NZ Market: NZUs soar to fresh highs as climate commission doubles down on higher auction price settings
New Zealand carbon allowances soared past NZ$40 ($28.81) to new record high levels on Wednesday, following the release of the independent Climate Change Commission’s final advice to the government on the country’s carbon budgets out to 2035.
Read MoreNZ Market: NZUs climb to 11-wk high as FPO becomes history
New Zealand allowances on Friday closed above NZ$38 ($27.18) for the first time since before the March auction, rising after ETS participants earlier this week finalised 2020 compliance and the NZ$35 fixed price option became a thing of the past.
Read MoreWorld sees 18% increase in global carbon pricing revenue in 2020 -World Bank
Government revenue from global carbon pricing instruments swelled by almost a fifth last year as programmes largely withstood the impact of the coronavirus crisis, according to an annual report released Tuesday by the World Bank.
Read MoreNew Zealand commits to reinvesting NZU auction revenue in carbon-cutting projects
New Zealand will use future revenue from its quarterly sales of carbon allowances under its emissions trading scheme towards investing in projects that will further cut greenhouse gases, the government said Thursday as part of its annual budget.
Read MoreCOMMENT: Financing carbon dioxide removals – what role for ETS in the race to net zero?
Carbon pricing and specifically emissions trading systems can play an important role in incentivising removals necessary for achieving Paris Agreement emissions targets, according to the ICAP Secretariat.
Read MoreUK plans for in-person COP26 climate summit, explores COVID safeguards
The UK is planning on host the COP26 UN climate negotiations as an in-person summit in Glasgow in November and is considering various ways of ensuring protection against the coronavirus pandemic, the meeting’s president Alok Sharma said on Friday.
Read MoreNZ Market: NZUs slip to three-week low amid FPO’s last dance
New Zealand carbon allowances have slid to a three-week low as demand slumps in the run-up to the May 31 compliance deadline, emitters’ last ever chance to take advantage of the fixed price option (FPO).
Read MoreIncubEx fundraise values environmental markets platform at $161 mln ahead of London IPO
Environmental markets platform IncubEx has raised $11.7 million in its latest fundraising round, valuing the company at $161 mln ahead of an expected IPO in London later this year.
Read MoreNew Paris climate pledges to help cut projected warming to 2.4C -scientists
The new climate pledges announced during April’s US-led climate summit are projected to put the world on track for global warming of 2.4C above pre-industrial levels, a report published Tuesday showed, reflecting a drop from 2.6C previously but still far off the Paris Agreement’s 1.5-2C goals.
Read MoreGermany, Russia sign MoU to ship hydrogen via controversial gas pipeline
Germany and Russia have signed a €2 billion memorandum of understanding (MoU) to leverage the controversial gas pipeline Nord Stream 2 for the eventual distribution of hydrogen, even as the European Parliament called for the project to be halted due to rising tensions with Moscow.
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