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South Korea to Increase Emissions Cap

South Korea is expected to introduce a carbon trading scheme that is about 3 percent larger than it had previously announced, according to Reuters. The South Korean government said last Thursday that it would distribute 1.687 billion metric tons of carbon-equivalent emission permits from 2015-17 as part of its trading … Read more »

Carbomap Completes Costa Rica Survey

Carbomap says the actual carbon content of a Costa Rican forest it surveyed is 22 percent higher than published values using traditional satellite methods of measuring forest carbon. The environmental survey company completed a three-dimensional carbon map of a forested region in Costa Rica to value the asset for trading. … Read more »

Carbon Futures Climbing

Carbon futures hit 13-month highs as traders reacted to the European Commission’s plan to postpone sales of some allowances. The move is fueling speculation that factories and utilities will buy more of the pollution credits. Permits for December jumped as much as 3.6 percent to the highest since Dec. 28, … Read more »

Europeans Face Carbon Permit Shortfall

Dow Chemical, Heidelberg Cement and other manufacturers face carbon permit shortages as the European Commission tries again to curb a record glut. The glut has accumulated since 2008, driving carbon permits to a record low, threatening the viability of the world’s largest emissions market. Higher permit prices would discourage fossil … Read more »

Cap-and-Trade Starts in China

This week takes us from the lows to the highs of Chinese environmental policy. Yesterday we reported on the introduction of the death penalty as a possible punishment for polluters. But on the positive side, China’s first carbon market opened this week in Shenzhen. It is one of seven pilot projects … Read more »

EU Carbon Prices Plunge to Record Lows

Carbon prices hit record lows today after the European Parliament rejected an emergency plan to boost the ailing EU carbon market. In a 334-315 vote, with more than 60 abstentions, lawmakers rejected a proposal to postpone — or backload — the auctioning of 900 million EU Emissions Trading Scheme allowances … Read more »

UN Emission Credits Surge 38%

Emission credits issued by the United Nations increased 38 percent this month, Bloomberg reports. The surge came amid speculation that developers are buying up the contracts — which are sold by the UN in a bid to encourage investment in climate-friendly projects — to meet commitments with buyers to deliver … Read more »

Calif. to Auction Fewer Carbon Allowances

California’s next carbon auction, on February 19, will offer 12,924,822 current vintage allowances – a little over half as many as were offered in the last auction in November – with a reserve price set 71 cents higher, at $10.71 per metric ton. The price increase is in line with … Read more »

RGGI Investments Cut 12m Tons of CO2

RGGI Investments Cut 12m Tons of CO2

Investments made between 2009 and 2011 using proceeds from the allowance auctions of The Regional Greenhouse Gas Initiative – a cap-and-trade system for power plants in certain northeast and mid-Atlantic states – will help avoid the emission of 12 million short tons of carbon dioxide pollution, according to a report … Read more »

Global Carbon Markets Plummet

Global Carbon Markets Plummet

The value of the world’s carbon markets declined by 21 percent over the last quarter, despite trading volumes above the historical average, according to analysis from Bloomberg New Energy Finance. Global carbon markets fell to €14.2bn ($19.2bn) over Q1 2012, according to Bloomberg. This was 41 percent less than in … Read more »

Offset Supply to Drive Western Climate Initiative, Analysts Say

Offset supply will be the main long-term allowance price driver after California and Quebec link their emissions trading programs next year to form the Western Climate Initiative single carbon market, according to market intelligence service Thomson Reuters Point Carbon. Both the California and Quebec electricity sectors have relatively low emissions. … Read more »

Policy & Enforcement Briefing: PTC, China Solar Tariffs, Chemical Reporting, India and ETS

New bipartisan legislation seeks an extension to the production tax credit for wind energy under the American Energy and Job Promotion Act, after the measure dropped out of the payroll tax bill and the transportation bill. The new bill also would extend the renewable energy tax credits for biomass, geothermal, … Read more »

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