EU Market: EUAs fade after weak auction for 4.2% weekly loss
EUA prices were poised to end Friday more than a euro below last week’s close, as a weak auction stifled prospects of a recovery while traders remain preoccupied with when the UK will finally be able to sell its backdated units.
Read MoreSwitzerland sets dates for first EU-linked CO2 auction, warns on low price trend
Switzerland has announced dates for its first carbon allowance auction since linking to the EU ETS, but it warned that the sale could be cancelled if the current trend of excessively low clearing prices continues.
Read MoreNew Spanish government raises climate ambition as Brussels readies member state scrutiny
Spain’s new government plans to ratchet down its 2030 emissions goal by a further two percentage points, in a move likely to get firm approval by Brussels this month.
Read MoreEU Market: EUAs slip back below €25 as China virus worries markets
EUAs slipped 1% on Wednesday as the energy complex weakened while wider financial markets fretted about the spread of a flu-like virus in China and elsewhere.
Read MoreWorld’s carbon markets grow 34% in value to $215 billion in 2019 -report
Global carbon markets grew by 34% in 2019 to hit €194 billion ($215.1 bln) in value, according to analysts at Refinitiv, marking a third straight year of growth and a nearly fivefold increase in two years.
Read MoreEU chief warns on CO2 border measures, praises California, China
European Commission president Ursula von der Leyen warned on Wednesday that the EU will press ahead with border carbon adjustment plans to protect its industry and workers, but she praised California and China’s carbon pricing efforts that could mean the measures are never needed.
Read MoreEU Market: EUAs lift above €25, though lose most early gains
EUA prices lifted back above €25 on Wednesday, though much of the early gains made in the auction-free session were given back later on.
Read MoreEU Market: EUAs slip below €25 amid tepid auction demand
EUAs dipped below €25 early on Tuesday as auction demand continued to be lacklustre even as Germany gave further clarity about efforts to ensure its coal power phaseout won’t dampen demand.
Read MoreIndependent advisors to guide German EUA cancellations from coal phaseout
Germany will seek independent advice annually to guide EU carbon permit retirements linked to its coal phaseout, with each cancellation cycle taking around two years, according to draft legislation seen by Carbon Pulse.
Read MoreEU nations to aim for June sign-off on 2050 net zero law
EU member states will be asked in June to endorse a law to bind the bloc to a 2050 net zero emission goal, fast-tracking a process that kicks off a wide-ranging Brussels plan to green its economy.
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