Carbon Pulse

The US Congress will include bipartisan energy-related proposals to reduce potent HFC gases and incentivise research and deployment of energy efficiency and CCUS in a $1.4 trillion government funding package set for release as early as Tuesday, according to numerous media reports.

A Virginia generator opened a RGGI account this week ahead of the state’s entrance in the Northeast US emissions trading scheme next month, joining at least two other entities from the jurisdiction.

The EU will not rush to introduce a carbon removals certification system because it wants to minimise the potential for errors, a senior European Commission official said Tuesday.

UK utility Drax has struck a deal to sell four gas power plants to energy trader Vitol, shedding its carbon allowance demand and intending to focus on its biomass-based route to negative emissions.

The EU's emissions trading registry will be temporarily suspended at the turn of the year to allow for technical maintenance and a software upgrade, the European Commission announced Tuesday, adding that it has wiped an undisclosed amount of personal data from the ETS transaction log.

Australia’s Clean Energy Regulator issued well over 500,000 new carbon credits over the past week and a half, according to data released on Tuesday that showed the units were awarded to 41 projects. 

Year-end demand from state-owned power companies pushed KAUs up by 10% on Tuesday with more upside expected in the next couple of weeks, according to market participants.

South Korea is shifting from a BAU-based 2030 emissions reduction target to an absolute one, though without promising deeper cuts, it confirmed on Tuesday while laying out priorities for where the effort will be made.

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

EU nations are divided over the role of gas and nuclear as ‘transition technologies’ in the production of hydrogen, Germany’s economy minister acknowledged on Monday following a ministerial meeting.

There is little risk that ships would make port calls in non-EU ports to evade compliance under an extended EU cap-and-trade system, according to an NGO report released on Monday.

Alberta Environment and Parks (AEP) withdrew the province’s conservation cropping protocol on Monday after a department review found the methodology no longer produces emissions reductions that are additional to business-as-usual practice.

Indonesia and Costa Rica last week inked agreements with the World Bank Forest Carbon Partnership Facility (FCPF) to reduce deforestation-related emissions, while the other tropical forest nations with outstanding arrangements will receive additional time to sign the deals seen as a possible base of international carbon trading.

A RGGI compliance entity is expected to outline an agreement later this week to settle past CO2 obligations under the Northeast US power sector cap-and-trade scheme for two facilities in ongoing bankruptcy proceedings, a lawyer involved in the case said.

EUA ended near record highs on Monday as bullish sentiment persists at the onset of an auction drought, with carbon also supported by energy and higher climate ambition from politicians.

UN officials agreed on Monday “temporary measures” intended to maintain the CDM into 2021 and serve as a stopgap until countries can decide whether the offset mechanism can transition into the Paris Agreement era.

The first ever auction of Swiss aviation carbon allowances has sold out, the government announced Monday.

Two project developers have secured more than two-thirds of the funds from the Queensland government Land Restoration Fund’s first investment round.

The UK will have its own ETS starting from January to replace the EU’s carbon market as the Brexit transition period comes to an end, the government confirmed Monday in a press release.

NZX has created a new role to head up and develop its new emissions trading platform.