CN Markets: China carbon price edges down, as ETS challenges remain
The price for Chinese Carbon Emissions Allowances (CEAs) came down slightly over the past week, but the overall market situation remained the same as none of the regulatory and administrative uncertainties hanging over the market have been addressed.
Read MoreBig Asian power group to ditch coal by 2040, target net zero by 2050
CLP Group, one of the largest investor-owned power businesses in the Asia-Pacific, will phase-out its coal-fired power assets by 2040 and target net zero emissions by 2050, the company announced on Friday.
Read MoreGuangdong clean power auction attracts moderate interest, premium prices
China’s Guangdong province on Thursday held its first auction of clean power for which buyers will be issued green certificates, a new type of credit that could emerge as a competitor to offsets.
Read MoreCompanies announce China’s first “carbon neutral” crude oil deal
Three major Chinese companies on Wednesday announced they had used government-issued CCERs to offset a shipment of 30,000 tonnes of crude oil from extraction in Angola and every step of the way through the supply chain to consumption.
Read MoreHubei carbon market shrinks after power plant exit
China’s Hubei province has released the 2020 allocation for its pilot emissions trading scheme, with the number of allowances to be issued falling by almost 40% after regional coal-fired power plants exited the scheme to participate in the national market.
Read MoreChina to end overseas investment in coal plants in major shift
China will end funding for new coal-fired power plants abroad, President Xi Jinping announced at the UN General Assembly on Tuesday, signalling a massive shift for the world’s largest public financier of overseas coal.
Read MoreVoluntary offset taskforce names governance board, promises indigenous representation
The private sector Taskforce on Scaling Voluntary Carbon Markets (TSVCM) announced its governance body on Tuesday, adding that it was on track to deliver next year standardising tools being designed to help dramatically increase the volume of carbon credit transactions.
Read MoreVCM Report: Nature-based VER values lift past CORSIA-eligible units
Prices for exchange-traded, standardised voluntary emissions reductions (VERs) rose more quickly among nature-based products than CORSIA-qualified credits for the second straight week, reasserting a premium in the voluntary carbon market (VCM) that had evaporated earlier this month.
Read MoreUS, EU ink methane pact in push to help get COP26 climate summit back on track
The US and EU have jointly pledged to slash their methane emissions, in an internationally coordinated move seen as a significant step ahead of next month’s UN climate talks, which observers warn are at risk of faltering.
Read MoreCARBON FORWARD 2021: Amid global carbon credit boom, experts gather to discuss risks, opportunities
The sixth instalment of Carbon Forward – the premier annual environmental markets conference – is back, and it’s stacked with a first-class line-up of speakers to discuss the global boom in carbon credit prices, as well as government- and corporate-led efforts to scale up these markets.
Read More