Carbon Pulse

Australia’s biggest oil and gas exploration company has initiated the environmental approval process for a new LNG project that would emit up to 7 MtCO2e per year, enough to erase around a third of the carbon output saved through the Emissions Reduction Fund (ERF).

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

California regulator ARB on Friday postponed a decision until next spring on whether to approve the Tropical Forest Standard (TFS) that could allow jurisdictions to link their sector-based offset programmes to the state’s carbon market, with stakeholders warning of the standard's environmental and social ramifications.

EU carbon prices ended above €19 on Friday as the UK government stuck to its efforts to pass a Brexit deal, while a huge drop in coal prices boosted the prospects for coal generators to ramp up EUA buying.

Nodal Exchange and IncubEx launched their first tranche of environmental products in North American carbon, renewable energy, and other environmental markets on Friday, adding another player offering futures contracts in the market.

EU carbon prices will soon rise to levels that will force the closure of a number of German coal plants, according to a member of an industry association represented on the country’s coal exit commission.

While EU carbon futures prices are increasingly seen as driving fossil fuel forward prices, researchers have found a looser relationship in the spot market and differing ones when it comes to the inverse, namely how each fuel affects EUAs.

China Southern Power Grid Co. on Friday auctioned off a small batch of offsets eligible for use in the Guangdong ETS that cleared nearly 40% above the secondary market price for allowances.

Closing prices, ranges and volumes for China's regional pilot carbon markets this week.

New Zealand carbon allowances suffered a third straight day of losses on Friday, with the increasing gap to the de facto price ceiling  spurring sellers to come forward after months of near-zero trading.

Australia’s Clean Energy Regulator this week issued 246,157 offsets to six projects that are all under contract with the government’s Emissions Reduction Fund (ERF).

The EU has ordered Romania to recover over €60 million from utility CE Hunedoara, deeming illegal the government loans given to help the company meet its EU carbon market obligations.

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

California Carbon Allowances (CCAs) rose this week as the market received more clarity on next year’s price floor and ahead of the final 2018 auction, while RGGI prices slid on thin activity.

Ontario will eliminate the province’s environmental watchdog next year, the government announced Thursday, after the independent body raised numerous concerns with Premier Doug Ford’s decision to roll back various green programmes including cap-and-trade.

Germany should cancel EUAs to avoid damping the EU ETS carbon price signal from a coal phase-out due to start next year, the country’s coal commission has reportedly recommended.

California regulator ARB may revert back to its original plan to approve cap-and-trade amendments in December rather than January, while also proposing slight changes to its mechanism for accounting for indirect emissions, according to a presentation released Thursday.

EUAs plunged to near €18 on Thursday as a number of UK ministers resigned over the Brexit deal agreed by British and EU negotiators late Wednesday, prompting fears that it will collapse and prompt emitters to sell surplus carbon units before they are locked out of the scheme next year.

China will launch its mandatory renewable energy certificate (REC) scheme next year, the National Energy Administration (NEA) said as it this week rolled out updated draft rules for what will be the first of several planned national market mechanisms to cut carbon emissions and reduce energy use.

The Climate Governance Manager will become a key member of C40 City Diplomacy team, contributing to shape its global diplomatic strategy towards national governments and other stakeholders, in support of the Paris Agreement and C40 mission.