UK proceeds with technical ETS changes aimed at transparency, simplification
The UK ETS Authority intends to move forward with proposed technical and operational changes to the market, aimed at creating more transparency, maintaining parallels with the EU ETS, and simplifying compliance, it announced on Thursday evening.
Read MoreEuro Markets: EUAs retreat after setting 15-month high, as analysts highlight retracement potential
European carbon allowance prices reached a new 15-month high on Thursday morning, before giving back the gains as EUAs cut loose from their recent correlation with TTF natural gas and German power in the afternoon amid a pick-up in selling activity, with analysts pointing to growing potential for a price retracement.
Read MoreUK has high potential for energy-from-waste with carbon capture removals, finds paper
Energy-from-waste (EfW), when combined with carbon capture and storage (CCS), could generate high quality removal credits in the UK, a new paper has found.
Read MoreUPDATE – UK could use ITMOs as last resort to hit ambitious climate target in 2035
The UK could use international carbon credits to meet its climate targets under the Paris Agreement, although only as a last resort if domestic mitigation policies struggle, the government announced Thursday.
Read MorePOLL: Analysts retain bearish near-term outlook for UK Allowances on policy uncertainty, oversupply
Analysts have kept their bearish UK Allowance outlook for the year ahead due to the policy uncertainty and oversupply that continue to hang over the market, revising down forecasts for benchmark futures prices by around 5% compared to previous polling.
Read MoreEuro Markets: EUAs maintain upward momentum to new 15-month high as investors build more length
European carbon allowance prices rose to new 15-month highs on Wednesday, boosted by stronger power and gas prices and continued speculator buying, supported by a weekly Commitment of Traders report that showed investment funds had again increased their long position to the most in more than three years.
Read MoreEU CBAM could cost Northern Ireland up to £200 mln per year -report
The EU’s Carbon Border Adjustment Mechanism (CBAM) may be costly and disruptive for Northern Ireland, requiring payments of up to £200 million a year — unless the bloc and UK decide to link their emissions trading schemes, a new report warned on Wednesday.
Read MoreUK clears Heathrow expansion for take-off, promises plans will stick to carbon budgets
The UK government threw its weight behind the controversial expansion of Heathrow Airport on Wednesday, going against recommendations from its independent advisor on how to stick to the country’s legally binding carbon budgets, with any emissions impact to fall within the scope of the country’s carbon market and operators’ CORSIA obligations.
Read MoreEuro Markets: Bulls drive late spike in EUA prices to erase early losses, defend positions ahead of auction pause
European carbon prices jumped late in the session on Tuesday as bullish traders drove prices higher ahead of the settlement window to defend the recent rally in the face of growing bearish sentiment, while UKAs gained by the most in the market’s history after the Financial Times reported that the British government has asked for relinking to the EU ETS to be added to the agenda of an upcoming summit in Brussels.
Read MoreUPDATE – BRIEFING: Experts warn of double, triple counting in California CDR
California’s accounting practices for emissions reductions and carbon removal claims have come under fire from experts, who point to loopholes opening the door to double and even triple counting.
Read More