Euro Markets: EUAs trim losses after steady options-related selling, as UKAs fall 7.1% in 2 days
European carbon dropped by as much as 1.6% through to mid-afternoon on Tuesday before clawing back around a third of the decline as market participants eyed Wednesday’s expiry of the June options contract, while UK allowance prices fell heavily for a second session and have lost 7.1% in two days, after having come within nearly €10 of their EU counterpart late last week.
Read MoreLCAW26: Voluntary and compliance markets will continue to co-exist, with some linkages -registry
The widespread expectation that voluntary carbon markets will eventually fold into compliance is unfounded, according to the president of a removals registry, who instead sees both markets continuing to co-exist, with some linkages.
Read MoreINTERVIEW: Adding carbon removals to UK ETS will guarantee a market – but not demand
The UK’s planned route for integrating greenhouse gas removals (GGRs) into its Emissions Trading Scheme (ETS) would give project developers access to the compliance market – but it would not guarantee the buyers, a former UK government official told Carbon Pulse.
Read MoreCoal emissions soar above legal limits in Western Balkans, despite EU carbon pressure
The Western Balkans’ ageing coal plants are breaching legal pollution limits and operating beyond closure deadlines, despite pressure from the EU’s Carbon Border Adjustment Mechanism (CBAM), an NGO has warned.
Read MoreUK publishes shipping compliance guidance as maritime ETS entry nears
The British government has published detailed guidance for shipping companies on complying with the maritime expansion of the UK ETS, setting out monitoring, reporting, and allowance surrender requirements ahead of the sector’s entry into the carbon market from July 1.
Read MoreEU adjusts REPowerEU sales volumes after one component hits revenue target
EU Allowance auction volumes are to be adjusted downwards after the first of two fundraising mechanisms to help the European Union speed its transition away from Russian fossil fuels reached its revenue target on Monday, the European Commission said on Monday.
Read MoreLCAW26: Integrating removals is way of “future-proofing” UK ETS, official says
The forthcoming integration of domestic carbon removals (CDR) into the UK’s Emissions Trading Scheme (ETS) is a way of incentivising investment in the market and “future-proofing the ETS”, regardless of fluctuations in political appetite on net zero over time, a UK government official said at London Climate Action Week.
Read MoreGreen steelmakers urge EU to hold line on ETS as rivals seek carbon freeze
Green steelmakers have urged the European Union to resist calls for freezing the bloc’s Emissions Trading System (ETS), warning that weakening the carbon market would undermine investment in low-carbon steelmaking.
Read MoreEuro Markets: EUAs jump 1.2% amid options hedging while UKAs plunge as UK-EU summit postponed
European carbon allowance prices jumped by more than €1 late in the session as aggressive options hedging drove prices to their highest in more than four months, after the strongest auction result in two weeks signalled the completion of the first of two fund-raising efforts to smooth the EU’s transition away from Russian fossil fuels, while UKAs slumped on news that the long-anticipated EU-UK summit to discuss market linking would be postponed after the resignation of the British prime minister.
Read MoreEU ETS expansion would add less than 1% to some long-haul fares while raising billions for climate action -report
Extending the EU’s carbon market to cover all flights departing the European Economic Area (EEA) would have only a marginal impact on airfares and passenger demand, while generating billions of euros annually for climate action, according to a new study commissioned by Carbon Market Watch (CMW).
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