Carbon Pulse

Australia’s carbon price could more than double by 2030 as the weak CO2 target for electricity generation will force higher costs on other sectors, analysts said Wednesday.

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New Zealand carbon allowances rose to an all-time high on Wednesday as sellers were reluctant to satisfy demand amid expectations of higher prices in future.

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A California Assembly committee on Tuesday approved a bill that would increase the state’s Renewable Portfolio Standard (RPS) in 2030 and set a goal for 100% renewable energy by mid-century.

Ontario entities saw access to their cap-and-trade accounts restricted on Tuesday as new Premier Doug Ford officially cancelled the province’s carbon market.

EU carbon prices inched higher for a second day on Tuesday, buoyed by record high power prices that overshadowed the bearish impact of a weak auction.

China has officially withdrawn its intention to participate in the UN’s CORSIA aviation offsetting scheme, Carbon Pulse has learned, dealing a massive blow to efforts to rein in the sector’s rising emissions.

Power sector emissions in California surpassed 2017 levels over the first four months of the year, though fuel consumption for both gasoline and diesel fell simultaneously to possibly counteract the overall impact on cap-and-trade emissions.

China outlined new air pollution targets in its extended anti-air-pollution action plan on Tuesday, according to a State Council statement that includes restrictions on industrial projects in heavily polluted cities that would also curb greenhouse gas emissions.

A US project developer has introduced a new bundled offset product designed for voluntary market buyers looking for offsets “a little more tangible” than current offerings.

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Companies are increasingly looking to carbon ‘insetting’ to blend corporate-set climate targets with an attention to resiliency and co-benefits, according to two European-based entities speaking at a webinar on Monday.

EU carbon allowances crawled back above €15 on Monday, helped higher by a bullish auction result, as wider European energy prices flirted with new multi-year highs.

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EU carbon allowances are expected to vault higher over the next few months, analysts said, after prices weathered a bearish event last month and consolidated at elevated levels within sight of their recent seven-year high.

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The Colombian Senate approved a climate bill this week that provides for the creation of an emissions trading scheme, but the country’s recent presidential election has cast uncertainty on when the carbon market would launch.

EU carbon prices ended just below the €15 level they have been straddling all week, posting a 0.9% weekly decline but staying just within positive territory for June.

Fears are mounting that ICAO’s international aviation offsetting mechanism could collapse well before its 2021 start as China backtracks and other nations resist, while the scheme’s rules get severely weakened or delayed by infighting.