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 MoreKorean developers lukewarm about China CDM opportunities
Major South Korean carbon project developers are dubious to opportunities in China, amid efforts to drum up Korean interest in earning carbon credits from China-based N2O projects.
Read MoreFalling emissions could ease pressure on Korean CO2 prices -analysts
Falling energy-related emissions and increased offset supply in 2019 and 2020 could shift the South Korean emissions market back to a net surplus later this year and ease pressure on near-record high CO2 allowances, analysts said Friday.
Read MoreSK Market: KAU auction sells out above secondary market
South Korea’s first monthly CO2 permit auction of the year sold out above secondary market prices, but it cleared well below last month’s record high.
Read MoreSK Market: Prices shed a fifth amid bearish fundamentals, intervention rumours
South Korean carbon prices have dropped nearly 20% over the past two weeks amid rumours of government intervention, with market participants saying the decrease has come against bearish market fundamentals.
Read MoreSK Market: Govt on the defensive as KAUs notch new record highs daily
South Korean CO2 allowances hit record levels again on Thursday, as they have almost every day recently albeit on small volumes, leading concerned industry to pile pressure on the government to intervene.
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: Amid record high carbon prices, South Korea pins hopes on UN solution
South Korean negotiators play a far more active role than usual at this year’s UN climate negotiations in Madrid, hoping to push through rules that would allow Korean ETS firms to buy up to 55-60 million international carbon credits annually throughout the 2020s in a bid to avoid runaway domestic CO2 prices.
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.
Read More