Exchange ICE to relocate EU carbon trading to Netherlands over Brexit limitations
Exchange operator ICE will relocate its EU carbon allowance trading from its London-based hub to the Netherlands in Q2 of this year due to Brexit-related limitations, it announced Monday.
Read MoreMacquarie carbon and power boss to join Goldman Sachs
Investment bank Macquarie’s head of environmental products and continental power in London has been hired by rival Goldman Sachs, Carbon Pulse has learned.
Read MoreAbsence of EU carbon market link “biggest risk” facing UK energy sector
Linking the UK’s new emissions trading scheme to the EU carbon market is the single most important issue facing Britain’s energy industry, sector representatives told lawmakers, warning that it presents the largest threat in terms of raising costs for consumers and preventing utilities from managing risk.
Read MoreANALYSIS: SSE’s hedging pause highlights uncertainty, differing strategies for emitters under new UK ETS
UK utility SSE expects to pause its forward hedging of thermal generation until the UK carbon market starts issuing units, it said on Tuesday, in contrast to other British operators continuing to use EU Allowances to hedge their post-Brexit production.
Read MoreWorld’s compliance carbon markets increased 19% in value to $279 bln in 2020 -report
Global compliance-based carbon markets increased in value by nearly a fifth in 2020 to €229 billion ($279 bln), according to analysts at Refinitiv, flagging a fourth consecutive annual rise and a fivefold jump within three years as the programmes shrugged off the effects of the COVID-19 pandemic.
Read MoreAfter Brexit ‘divorce’, UK-EU carbon market linkage will take time -academic
Linking the UK’s recently established carbon market with the EU ETS will take time, with post-Brexit politics rather than technical or design issues likely to stand in the way, an environmental economics professor has told Carbon Pulse.
Read MoreUK government reshuffles climate ministers with an eye on COP26 summit
The UK government shuffled its climate ministers on Friday, with Business Secretary Alok Sharma stepping down from that post to focus full time on his role as president of the upcoming UN climate summit.
Read MoreEU carbon prices hit new record of €33.50 after Brexit trade deal clinched
European carbon prices rose to a new all-time high on Monday after the EU and UK reached a post-Brexit trade deal late last week, and as colder weather and limited allowance supply provided support.
Read MoreCOMMENT: The UK ETS – It’s (officially) a thing
So it’s official – the UK will launch its own emissions trading system in 2021. Of course, it won’t actually begin on January 1, as the Department for Business, Energy and Industrial Strategy – the regulator – has yet to work out what the free allocations should be, how many UK Allowances (are we OK with UKA as an abbreviation?) will be auctioned, etc etc. But we know a few things…
Read MoreICE Futures Europe appointed auction host for UK ETS
ICE Futures Europe has been appointed to host carbon allowance auctions under the UK’s new emissions trading scheme, the London-based exchange announced Thursday.
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