World’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 MoreNZ Market: NZUs inch to new highs, but observers see volatility ahead
NZUs rose further on Wednesday to extend this week’s record high, but with secondary market prices now 16% above the 2019 Fixed Price Option level some market participants expect increased volatility in the next few months.
Read MoreNZ Market: NZUs hit NZ$29 on bullish surge following move to lift fixed price
New Zealand carbon allowances rose to fresh record highs in Tuesday trade as last month’s government proposal to raise the Fixed Price Option continued to dominate sentiment.
Read MoreNZ Market: NZUs skyrocket on price ceiling, cap news
New Zealand carbon allowances rose a massive 15% on Friday as yesterday’s news on the future market emissions cap and plans to lift the Fixed Price Option from next year pushed prices to record highs.
Read MoreNew Zealand outlines provisional carbon budget, ETS cap
New Zealand on Thursday released a draft provisional carbon budget for 2021-25 for public consultation, with specific proposals for its emissions trading scheme that would see the Fixed Price Option rise from next year and keep international units out of the market until at least 2026.
Read MoreCountries should consider pausing global carbon market talks -NZ minister
Disputes over the rules for the markets chapter of the Paris Agreement may not be reconcilable and countries should consider pressing pause on these talks for a few years, New Zealand’s climate minister James Shaw said Wednesday.
Read MoreNZ names Climate Change Commission members
New Zealand on Tuesday named the panel of experts that will make up the country’s newly-established Climate Change Commission.
Read MoreCOP25: Testing Article 6 talks delayed for second year after marathon UN climate summit
Marathon UN climate talks in Madrid finished on Sunday afternoon without agreeing rules for international emissions trade under the Paris Agreement’s Article 6, as beleaguered hosts Chile pushed the record-long summit to try to broker a deal on a handful of sticking points.
Read MoreCOP25: Roundup for Saturday and Sunday, Dec. 14-15
A marathon overnight session to develop an outcome for the UN climate summit was widely panned on Saturday morning, while negotiations on the highly contentious Article 6 rulebook for Paris-era international emissions trade continued.
Read MoreCOP25: Roundup for Friday, Dec. 13
New Article 6 text dropped well behind schedule at the UN climate summit on Friday, with numerous contentious issues still remaining on agreeing the rulebook to international emissions trading under the Paris Agreement.
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