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RGGI states sold all 14.9 million spot allowances offered in this week’s quarterly auction for $4.54 each, the market’s operator announced Friday, as speculators returned to the market but overall bidding interest declined.
Europe’s highest court has rebuffed an effort by Swedish companies to be allocated more free carbon units, re-affirming its earlier decision to order the European Commission to recalculate the handouts to 2020.
China approved a record number of carbon offset projects in August as developers flock to get their projects registered before an expected rule change might cut their access to the national emissions trading scheme.
EU carbon didn’t budge on Friday to end a week of consolidation that has kept carbon within reach of a three-year low.
California-based Climate Action Reserve has been awarded a tender to help Ontario develop a suite of carbon offset protocols for use in the province and neighbouring Quebec.
The UNFCCC has banned Ukraine from participating in its market mechanisms after ruling that the country failed to comply under the Kyoto Protocol’s first commitment period (CP1).
China’s Guangdong will hold the first of four planned CO2 auctions for 2016 on Sep. 21, the Guangzhou Emissions Exchange said Friday.
If China’s national emissions trading scheme is to be a success, regulators must design trading rules that help – not hinder – market liquidity and ensure transparency.
Closing prices, ranges and volumes for China’s regional pilot carbon markets this week.
Carbon pricing initiatives are marching rapidly across the globe but mostly at levels far too low to keep 195 countries to their climate change commitments under the Paris Agreement.
BITE-SIZED UPDATES FROM AROUND THE WORLD
EU inches deeper on efficiency – The EU Commission is poised to make good on its long-touted pledge to propose next month a 30% 2030 energy efficiency goal, Reuters reports, citing a draft document. It proposes going deeper than the 27% target EU leaders signed-off on in 2014 alongside other 2030 goals.
***Read Carbon Pulse’s take on how the higher EU energy efficiency target could knock more than €3 off the Commission’s €25 carbon price projection for the next decade while also ensuring the bloc beats its emission goals massively***
Japanese electronics – Japan’s carbon registry will be offline for maintenance from 0900 UTC on Sep. 9 to 0100 UTC on Sep. 23, the UNFCCC announced. During this time, accountholders will be unable to process transactions or receive CERs from the CDM Registry.
And finally … China’s car scam clampdown – China has accused more than 20 additional carmakers, including Nissan and Hyundai, of breaking rules on green car subsidies, according to a state media report, widening a scandal over a $4.5 billion annual payout program that has already seen Beijing punish at least five car makers, accusing them of cheating its program to subsidize electric and plug-in hybrid vehicles, receiving roughly 1 billion yuan ($150m) in illegal subsidies. (Reuters)
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