Carbon Pulse

The basis for an international emissions trading system under the Paris Agreement’s Article 6 became clearer on late Thursday, though some worried that the requirements could prove onerous for investors.

European carbon prices climbed to a fresh two-month high on Thursday, as bulls felt empowered after yesterday’s options expiry saw a huge rally rather than the sell-off that some had foretold.

Switzerland and Peru have agreed to formalise a process expected to lead to the European nation buying some of the first carbon credits generated under the Paris Agreement framework.

German energy exchange EEX on Thursday published the Polish EUA auction calendar for 2019.

Chile could add the use of offsets as a compliance option for its $5/tonne carbon charge and expand its coverage to more sectors, though a timeline for those revisions remains uncertain, an official told Carbon Pulse on Thursday.

The EU and its non-EU neighbours Norway and Iceland on Thursday reached an agreement on joint fulfilment of their Paris Agreement climate targets that will allow the countries to trade more of their emissions.

Negotiations over a Paris rulebook in Katowice are nearing the end as ministers have reported on the status of the talks to the Polish presidency, though delegates are readying themselves for an extended stay as chances of reaching a deal appear slim.

RGGI allowances (RGAs) saw mixed price reactions and increased activity following the Dec. 5 auction result, while California Carbon Allowances (CCAs) rose slightly over the past week on thin volume.

British Environment Minister Claire Perry on Thursday announced that the UK is vying to host the annual UN climate summit in 2020.

New Zealand carbon allowances fell nearly 4% from record highs on Thursday as the highly anticipated government ETS reform package failed to clarify the near-term fate of the NZ$25 fixed price option.

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

California reduced the invalidation period on more than 11.1 million existing credits, marking the second straight issuance with multi-million CCO-3 issuances, regulatory data shows.

European carbon prices rallied by nearly 10% on Wednesday ahead of the expiry of hundreds of millions of options contracts after market close.

If we’re to prevent global temperatures from rising to a level more than 1.5ºC (2.7ºF) above pre-industrial levels, we must dramatically improve the way we manage our forests, farms, and fields.

California regulator ARB is expected to approve the cap-and-trade amendments up for discussion at Thursday’s board meeting, with little chance of changing its position on the major elements of the proposal, sources said.

With negotiators struggling to break deadlock over an increasingly complex Paris Agreement rulebook text, the Polish presidency on Wednesday announced it was taking more direct control over the COP24 talks in Katowice.

Five countries have committed to curb N2O emissions nationwide from 2021 in return for Germany buying and cancelling carbon credits from their emission-cutting projects until that year.

Fifteen international organisations and development banks pledged Wednesday to make their operations carbon neutral in part through offsets, but they did not specify a target year or detail any of their potential demand for credits.

The Carbon Tracker Initiative’s managing director and head of research has resigned to take up a position at the asset management arm of French bank BNP Paribas.

California power utilities are poised to emit more CO2 in 2018 as hydroelectric power continues to decline and natural gas-fired generation rises, according to state and federal data.