EU nations urged to allocate ETS revenues towards climate goals
The European Union should invest earnings from the carbon market more efficiently towards climate goals, according to a collective call.
Read MoreRGGI Market: RGAs slip further towards 2025 CCR
RGGI Allowances (RGA) in the secondary market continued their descent over the week as prices adjusted in response to programme updates from the administrator, with traders largely projecting the 2025 Cost Containment Reserve (CCR) value as the near-term level of support.
Read MoreUS EPA’s own data negates power plant rules’ CCS feasibility -intervenor briefs SCOTUS
An intervenor on behalf of one of the US states enjoined in an emergency petition to stay the US Environmental Protection Agency’s (EPA) power plant rules drew the attention of the Supreme Court to analyses from the agency showing carbon capture and storage (CCS) technology limitations.
Read More85% of banks worldwide still open to financing new coal -report
Some 85% of banks are open to financing new coal projects, and only 8% of banks are committed to ending project financing of new oil and gas fields, according to research published on Tuesday.
Read MoreSCOTUS seeks input from US federal official on merit of fossil fuel lawsuits
The US Supreme Court is asking the Solicitor General to comment on a challenge from Alabama and 18 other conservative states trying to quash Democrat-led states’ lawsuits against oil and gas producers, according to a request made on Monday.
Read MoreBRIEFING: Article 6 needs streamlining and specifics, fewer constraints, says carbon industry
UN negotiators should facilitate private sector involvement in Article 6 through measures designed to streamline deal-making, authorisation, and transaction, but should not over-emphasise central infrastructure or interpret the Paris Agreement to preclude REDD projects, according to a carbon trading industry body.
Read MoreAdvisory group urges Brussels to ensure holistic and long-lasting carbon removals in CRCF
The European Commission needs to take a holistic approach to the emissions covered in its industrial carbon management policy, extending its oversight to indirect emissions within company’s assets, as well as the energy used from carbon management technologies, among other areas, according to recommendations from an advisory group.
Read MoreVCM MONTHLY DATA: Shell leads retirees in September as issuances soar to three-year high
Issuances in the voluntary carbon market (VCM) soared to their highest level in September for three years, while oil major Shell was the largest retiree of credits, according to new analysis of registry data from Carbon Pulse.
Read MoreVCM Report: Resurfacing fraud charges undermine confidence, thin liquidity continues
The integrity of the voluntary carbon market came under the spotlight again last week after charges of fraud were unsealed by US authorities against Ken Newcombe, the former CEO of project developer CQC Impact Investors LLC (CQC), as well as the company’s ex-COO and a former managing director, Tridip Goswami, among others.
Read MoreEuro Markets: EUAs erase early plunge to six-month low in heavy trading as gas rebounds on geopolitics
European carbon prices dropped sharply from the opening on Monday, reaching a new six-month low early in the afternoon – just above a key psychological and technical level – before then clawing back all their losses in the busiest day the ICE exchange has seen since early 2022, after gas prices staged a bounce-back on bullish news reports.
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