SK Market: Korean CO2 prices plunge as govt moves to solve hoarding issue
South Korean CO2 allowances fell nearly 6% in Monday trade as the government moves to impose restrictions on allowance banking, forcing supply to come to market over the next six weeks.
Read MoreNZ Market: NZUs drop to 3-mth lows on lingering fixed price uncertainty
New Zealand carbon allowances fell to their lowest levels since mid-February on Monday as last week’s government ETS announcement continued to dominate sentiment.
Read MoreSurprise Coalition election win ends push for tougher Australian climate policy
Australia’s right-wing Coalition government pulled off a surprise win in Saturday’s federal election, remaining in office to put an end to opposition plans to increase the nation’s emissions reduction ambitions and set up a CO2 baseline-and-crediting scheme for major emitters.
Read MoreAustralia’s weekly offset issuance drops to 145k
Australia’s Clean Energy Regulator issued 145,319 carbon credits to 10 different projects this week.
Read MoreNZ Market: New Zealand’s carbon price falters on cap confusion
NZUs slipped on Friday as traders were left confused by government plans to remove the market’s de-facto price cap, raising the prospect of a price correction and even inadvertently triggering substantial government demand for international credits.
Read MoreTokyo extends post-2020 ETS emission targets to near current levels
The Tokyo municipal government will require facilities covered by its emissions trading scheme to cut CO2 emissions 25-27% below their baseline levels over the next five years, although most of the market participants have already achieved reductions in that range.
Read MoreNew Zealand to drop ETS fixed price option no later than 2022
New Zealand on Thursday released a new batch of ETS reform proposals, saying it would drop the fixed price option in 2022 at the latest, but offered no clarity on whether the marker would remain at NZ$25/t until then.
Read MoreAustralia rejects cement firm’s carbon secrecy plea
Australia’s Clean Energy Regulator on Tuesday published CO2 caps for four installations operated by the nation’s biggest cement producer, rejecting the firm’s application to withhold the information and revealing that the plants have been granted the right to emit far more than they currently do.
Read MoreNZ Market: Arbitrage trade helps keep lid on New Zealand CO2 prices
A steady flow of supply from emitters looking to raise cash to pay the NZ$25 fixed price option ahead of this month’s compliance deadline is keeping New Zealand carbon prices in check.
Read MoreECOSYSTEM MARKETPLACE: How carbon markets can boost biodiversity and slow climate change
We must take advantage of natural climate solutions if we are to avoid the worst effects of climate change. Yet setbacks – such as an incomplete Paris Rulebook – have raised concerns amongst stakeholders, worried that without UN guidance on carbon markets, they cannot confidently scale up the required policies and programs. The Nature Conservancy has released a new guide that highlights why many are already taking action to make use of markets in funding NCS, and how businesses can thoughtfully take similar steps today amidst a developing regulatory landscape.
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