California bill to adopt public cap-and-trade banking metrics fails, reforms planned for linkage proposal
California legislators on Thursday turned down a bill that would have added public banking metrics for compliance instruments in the WCI-linked carbon market, while lawmakers plan to further amend an act that would put offset usage underneath the state’s allowance budget in the event of future linkages.
Read MoreShell takes swipe at UK for sweetening oil and gas spending over renewables
Shell has taken a swipe at the UK government’s tax breaks for North Sea fossil fuel investment that accompanied Thursday’s news of a windfall levy on oil and gas profits by pointing out that the sweeteners do not extend to renewable energy.
Read MoreG7 energy ministers fail to set 2030 coal exit deadline, scale back carbon price ambitions
G7 energy ministers pledged on Friday to ditch coal-fired production but failed to set the hard 2030 deadline that hosts Germany had crafted in a draft agreement text.
Read MoreOil and gas firms could be barred from credible climate claims guidelines
Many of the world’s largest oil and gas companies have committed to mid-century net zero emissions targets, but initiatives looking into the credibility of climate claims are abstaining their support over fears of backing greenwashing.
Read MoreINTERVIEW: AirCarbon Exchange spies an opportunity after CBL rolled N-GEO vintage contracts
Division lines have been drawn in the battle to win market share in the voluntary carbon market (VCM) after AirCarbon Exchange (ACX) said Friday that it’s not going to follow the route followed by rival Xpansiv’s CBL and introduce a rolling contract for its nature-based standardised spot contract.
Read MoreEuro Markets: EUAs ease to thinly-traded marginal loss despite auction gaps
EUAs traded broadly sideways for most of Friday as traders initially consolidated the previous session’s gains on continued thin volume due to public holidays across Europe, before a late dip prior to the close saw the Dec-22 ease to a 56-cent daily loss.
Read MoreCN Markets: China CO2 price stable, but economic woes sour outlook
Allowance prices in China’s carbon market inched up over the past week, but market sentiment is turning bearish as participants expect mounting economic worries to hold back market development.
Read MoreANALYSIS: ‘Carbon neutral’ fuel trades go underground as oil majors fear criticism
Oil and gas players are continuing to strike ‘carbon neutral’ fuel deals despite a major drop off in announcements, observers told Carbon Pulse, with the firms believed to be making secretive trades involving millions of carbon credits to offset fossil fuel shipments even as they struggle to agree on how to report them.
Read MoreMalaysia’s Sarawak to develop statewide climate policy in follow-up to passage of forest carbon law
The state government in Malaysia’s Sarawak will prepare a climate change policy document in a follow up to last week’s passing in the legislative assembly of a law that laid out a framework for setting up a statewide forestry-based carbon market.
Read MoreExchange to impose temporary price controls on China’s green power trading market
The Beijing Power Exchange will impose initial price control measures in the emerging green power trading market to avoid price spikes, it said when laying out rules for the new scheme, a move tipped to lure away at least some participants from China’s carbon offset market.
Read More
