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COMMENT: The EU’s MSR sale proposal – “Ooooh! Look at that cookie jar!”

Published 04:04 on May 26, 2022  /  Last updated at 04:04 on May 26, 2022  /  Conversations, EMEA, EU ETS, Views  /  No Comments

The European Commission’s plan to bring roughly 200-250 million EUAs out of the Market Stability Reserve (MSR) and auction them to raise €20 billion to fund the bloc’s shift away from Russian energy has jolted the EU ETS, igniting “trust” concerns by market participants who liken the move to Brussels raising the EU’s climate cookie jar.

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UK govt issues £27 mln in EU ETS non-compliance fines

Published 23:26 on May 25, 2022  /  Last updated at 04:55 on May 26, 2022  /  EMEA, EU ETS, UK ETS  /  No Comments

The UK government has levied more than £27 million in new environmental fines, with the bulk related to compliance breaches under the EU ETS.

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Euro Markets: EUAs little changed in thin trade as scarce buyers fail to retake technical level

Published 17:36 on May 25, 2022  /  Last updated at 17:36 on May 25, 2022  /  EMEA, EU ETS, UK ETS  /  No Comments

EUA prices consolidated their gains from Tuesday after early strength, but failed to re-take a key technical level amid thin trading as participants eyed public holidays across much of Europe in the coming few days.

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Progressive MEPs fear REPowerEU will scupper chances of higher ETS ambition

Published 22:05 on May 24, 2022  /  Last updated at 22:05 on May 24, 2022  /  EMEA, EU ETS  /  No Comments

A European Parliament compromise on the EU ETS reform might lose relevance in the run-up to a vote by the full assembly next month in the wake of proposed changes to the supply-managing MSR via the REPowerEU strategy.

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Green groups push tropical forest VER buyers towards jurisdictional, reduction-based credits

Published 21:29 on May 24, 2022  /  Last updated at 21:29 on May 24, 2022  /  Americas, Asia Pacific, EMEA, International, Nature-based, Paris Article 6, Voluntary Market  /  No Comments

A coalition of eight environmental and Indigenous NGOs on Tuesday released a new set of guidelines for purchasing tropical forest voluntary emissions reductions (VERs), arguing companies should favour initiatives that span entire jurisdictions and prioritise emissions reductions over removals. 

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EEX Group to feature vintage-specific nature-based offsets, removals among voluntary product suite

Published 19:59 on May 24, 2022  /  Last updated at 20:00 on May 24, 2022  /  Americas, Aviation/CORSIA, EMEA, International, Nature-based, US, Voluntary Market  /  No Comments

Germany’s European Energy Exchange (EEX) Group on Tuesday announced the launch schedule of a voluntary carbon market (VCM) product suite, with vintage-differentiated nature-based units and removals-focused credits among the four standardised contracts offered across multiple time zones.

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INTERVIEW: Speculator curbs a far greater risk to EU carbon market than MSR sale plan, warns ETS architect

Published 18:27 on May 24, 2022  /  Last updated at 18:27 on May 24, 2022  /  EMEA, EU ETS  /  No Comments

The EU carbon market is overreacting to a proposal to sell up to €20 billion in allowances over four years to fund the bloc’s move away from Russian energy, one of the fathers of the ETS told Carbon Pulse Tuesday, adding that he’s far more worried about efforts to limit speculators.

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Less than 4% of global GHGs covered by a sufficient carbon price to meet 2030 goals

Published 17:24 on May 24, 2022  /  Last updated at 17:25 on May 24, 2022  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, China, China's Offset Market, EMEA, EU ETS, International, Nature-based, New Zealand, Paris Article 6, US, Voluntary Market  /  No Comments

Despite direct carbon price instruments covering almost one quarter of global greenhouse gas (GHG) emissions bringing in $84 billion in 2021, less than 4% are within a system with a sufficient price to meet Paris Agreement-aligned 2030 climate goals, a report from the World Bank said Tuesday.

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Euro Markets: Carbon wipes out Monday losses amid short covering and options pull

Published 17:24 on May 24, 2022  /  Last updated at 17:53 on May 24, 2022  /  EMEA, EU ETS, UK ETS  /  No Comments

European carbon held on to early gains on Tuesday to wipe out Monday’s losses as options hedging and short covering in a thinly traded market drove prices back above €80, while an EU official said that proposed sales of EUAs from the market stability reserve would be evenly spread over four years.

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UPDATE – Market needs reassurance that “taboo” EU carbon MSR sale is a one-off

Published 10:47 on May 24, 2022  /  Last updated at 16:32 on May 24, 2022  /  EMEA, EU ETS  /  No Comments

The European carbon market requires assurances that the proposed sale of EUAs from the Market Stability Reserve (MSR) is an exceptional circumstance and will not be repeated, in order to avoid undermining the functioning of the EU ETS, stakeholders told a conference Tuesday.

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