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COP29: Countries on cusp of historic Article 6 deal in Baku as final texts land
Negotiators from nearly 200 countries could be on the verge of a historic agreement on international carbon markets at COP29, after presidency proposal texts were published late on Friday and multiple sources said that consensus may now be present on the key outstanding technicalities of international carbon trade under Article 6. Read MoreTop
COP29: New climate finance goal proposal offers $250 bln by 2035
A new climate finance goal of $250 billion by 2035 was proposed in a draft presidency text published on Friday at COP29, falling well below the $1.3 trillion figure requested by developing nations, while provisions that would encourage carbon markets were deleted. Read MoreTop
COP29: Backslide in Baku as 1.5C wiped from mitigation text
A late-stage presidency text for the Mitigation Work Programme (MWP) has eliminated any mention of the Paris Agreement's global warming limit goals, and repeated its exclusion of ‘fossil fuels’ or ‘renewables’ language, reversing course on last year’s landmark COP28 Global Stocktake (GST). Read MoreTop
BRIEFING: GB Energy will be open to risk-taking and innovation - but other aspects remain unclear
Great British Energy, the UK government-owned company being set up to spearhead the country's energy transition, will make investments in risky technologies that governments usually avoid, a conference heard this week. Read MoreTop
Compliance entities fall short RGGI permits in Q3 as prices rocketed to records -report
RGGI compliance entities hold a permit shortfall in Q3 from an earlier surplus through the prior quarter, while RGGI credit prices in the secondary market rose to new records, according to the latest market monitor report. Read MoreTop
Maine updates climate action plan to increase 2030 EV goal, support clean energy jobs
Maine released an updated plan for the state's climate priorities on Thursday, teeing up a number of proposals for consideration in the next state legislative session. Read MoreTop
COP29: India “in talks” with Singapore, South Korea for ITMO deals -sources
India is in talks with the governments of South Korea and Singapore to sign agreements on a framework for the transaction of Internationally Transferred Mitigation Outcomes (ITMOs) under Article 6 of the Paris Agreement, sources have told Carbon Pulse on the sidelines of COP29 in Baku. Read MoreTop
BRIEFING: UK could face hefty export tax on electricity under EU's CBAM
The UK risks facing a tax on electricity exports to the EU in the range of £40-50 (€43-55) per megawatt-hour under the bloc's Carbon Border Adjustment Mechanism (CBAM), experts told a webinar Friday about the UK's need for electricity market reform. Read MoreTop
CFTC: CCA investors flock to V25 as prices spiral lower, RGGI traders quietly add net length
Financial entities continued to trim V24 California Carbon Allowance (CCA) exposure and build V25 length this week as futures prices spiralled lower into the Q4 WCI allowance sale after sentiment soured with news of regulatory delays, while traders added to RGGI Allowance (RGA) net length even as price action stalled, according to data released Friday from the US Commodity Futures Trading Commission (CFTC). Read MoreTop
Mexican state launches biodiversity, carbon credit programme
A Mexican state has partnered with a Franco-Mexican environmental credit company to kickstart a programme aimed at advancing the local biodiversity and carbon market. Read MoreTop
Euro Markets: EUAs post 1.9% weekly gain despite Friday's gas-fuelled sell-off, as coal takes pole position
European carbon prices posted a 1.9% weekly gain despite a steady decline on Friday amid some end-of-week profit taking that also pushed natural gas prices down, and shrugging off an ongoing shift in plant economics that analysts said puts coal ahead of gas for power generation over the next three months. Read MoreTop
COP29: US DOE deputy chief "confident" rulemaking on certain IRA tax credits will finish before Trump
Ongoing work to finalise outstanding rules for certain tax credits within the Inflation Reduction Act (IRA) will be completed before the end of President Biden's term, a top US Department of Energy (DOE) official said this week, although work on final rules for other credits may be left in the hands of the new Trump administration. Read MoreTop
CN Markets: CEA price remains stable, weekly trading volume jumps
CO2 allowance prices in China’s carbon market remained stable over the past week, with a surge in the weekly trading volume as compliance demand continues to grow. Read MoreTop
COP29: German govt announces over €1 bln in annual biodiversity funding
Germany plans to ringfence an annual €1.1 billion to fund biodiversity conservation starting next year, a government official announced at the ongoing COP29 UN climate summit in Azerbaijan. Read MoreTop
