Carbon Pulse

The second quarterly WCI auction of 2018 cleared above the floor price with buyers again purchasing all current units available, countering worries that political uncertainty in Ontario would lead to an under-subscribed result.

European carbon prices held around €16 and within sight of recent highs despite two fairly weak auction results on Wednesday.

The slower-than-planned uptake of forest-based carbon offsetting in the US could be buoyed by a reverse auction system that provides cost certainty and flexibility for landowners, according to experts.

The European Roundtable on Climate Change and Sustainable Transition in Brussels, which is under the umbrella of International Institute for Trade and Sustainable Development (ICTSD), is seeking an Research Assistant to work for 6 months starting in June/July 2018, with a possibility for extending the contract.

Australia’s Energy Security Board backs a limit of around 10% on banking emissions over-achievement under the proposed National Energy Guarantee (NEG), but it has posed a number of questions regarding the use of flexibility options to stakeholders while leaving the use of offsets up to the government.

The Japan Electric Power Exchange (JEPX) has held its first auction of non-fossil fuel power certificates, which some observers say might spark more interest in using market-based tools to meet carbon targets.

China will for the first time include environmental capacity and economic return as factors in restricting new investment in coal-fired power generation, according to a leaked note from the National Energy Administration (NEA).

The council in Shenzhen’s richest city district has extended a funding scheme for local emitters based on how many CO2 permits remain unused when complying with the Chinese city's pilot emissions trading scheme.

South Korean carbon permits rose to their highest level of 2018 on Wednesday as many traders remain concerned whether supply will be sufficient for everyone to comply by the annual June 30 deadline.

A daily summary of our news plus bite-sized updates from around the world.

The Canadian Parliamentary Budget Office (PBO) released an expanded assessment on Tuesday to support its recent forecast of how a federal carbon levy will impact the country’s GDP, though the analysis appeared somewhat extreme and binary in nature and did not account for a number of realities across Canada's existing pricing patchwork.

The largest organised labour group in Washington came up short of formally backing the state’s carbon tax ballot initiative, signalling a potential gap in support ahead of the July filing deadline.

European carbon extended the previous session’s seven-year high on Tuesday, crossing the €16 mark for the first time since June 2011 following a strong auction, though some traders are growing increasingly concerned that the large gains will lead to a sudden price collapse.

EU nations such as France are moving in the right direction in their efforts to impose a carbon price floor in addition to the ETS because recent price rises still leave the market and other mechanisms insufficient for tackling climate change, according to World Bank climate chief John Roome.

The future of emissions trading globally rests on whether China’s carbon market is deemed a success by the international community.

A daily summary of our news plus bite-sized updates from around the world.

IFC’s Climate Business Department (CBD) has a vacancy for a Senior Operations Officer in the Climate Finance & Policy Unit, which supports action leadership on topics such as carbon pricing, climate risk, and impact measurement, as well as upstream climate business-related markets development and development of the innovative low-carbon financial instruments to mobilize more private capital. The position will be based in Washington, DC and the incumbent will report to the Manager of the Unit.

Michigan’s two largest utilities will aim to source at least 50% of their energy from clean sources in 2030 after forging an agreement with an environmental group campaigning for stricter standards.

Peru’s government has agreed to ‘nest’ two REDD projects financed by fund Althelia, claiming a global first that enables the developers to sell carbon credits abroad while later integrating with the government’s Paris emission pledge.

EU carbon prices scaled a new seven-year high above €15.50 on Monday, as a continental European holiday kept volumes low and an auction off the calendar.