Carbon Pulse

EU lawmaker proposals to strengthen ETS price controls are still unlikely to trigger an injection of additional EUAs into the market, while adjoining ideas will likely mean supply tightens in later years, analysts said on Thursday.

Franco-Dutch airline group Air France-KLM expects passenger demand recovery to continue at a similar rate in Q1 2022 to that seen in Q4 2021, it said in financial results published on Thursday, that still projected figures well below pre-pandemic levels.

China’s environment ministry has ordered provincial regulators to collect and publish a list of companies that failed to surrender permits in time under the 2019 and 2020 compliance cycle of the national emissions trading scheme.

EUAs slumped on Thursday amid reports that member states have begun issuing free allowances to industrial installations for 2022, while participants also continued to digest proposals to relax the parameters to trigger additional supply if prices rise too sharply.

The spot price for Australian carbon credits has come down a little further over the past week with available supply on the upswing, while two more projects have completed contracts with the government to supply a combined 1.1 million offsets.

Crypto outfit Klima DAO on Thursday launched a carbon neutral and climate positive service for emitters that it hopes will boost liquidity in blockchain-based carbon markets as well as help its struggling KLIMA token rebound from recent lows.

Australian power and gas company Origin Energy on Thursday announced the early closure of the 2.9 GW Eraring black coal plant, which emits around 13 million tonnes of CO2 annually.

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

A California state senator will host a legislative hearing next week regarding a watchdog group’s recent report on the WCI linked cap-and-trade programme, which argued intervention was necessary to address the market’s allowance glut.

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Greater zero-emissions vehicle adoption and renewable diesel penetration will lead to an even larger WCI allowance surplus by the end of the decade, though California Carbon Allowance (CCA) prices will still increase compared to previous forecasts, analysts said.

The unprecedented speed at which Brussels is moving to enact its Fit for 55 climate policy package will have significant costs on EU households, panellists said at a virtual event on Wednesday, arguing that policymakers should be clearer about what this could mean for average consumers.

Opposition against a proposed second EU carbon market for buildings and transport is hardening among lawmakers, with measures seeking to kill the idea featuring strongly among the 1,600 amendments submitted ahead of a deadline on Wednesday.