#FUEL DRILLING PLANS UNDERMINE CLIMATE PLEDGES UPDATE#

Total holdings of NZUs in the national registry were up around 9% in the June quarter year-on-year as speculators continue to take up a growing space in a market whose historical permit surplus keeps growing, an update by New Zealand’s Environmental Protection Authority showed. Speculator NZU holdings increase by 14 mln year-on-year, as NZ ETS surplus continues to grow This year’s COP UN climate talks host Egypt has unveiled an updated NDC, setting an emissions goal that would still see its GHG output rise by 2030, a move that still represents a scale-up on its initial target-free pledge.ĪSIA PACIFIC CN Markets: China ETS sees slight rebound, but pessimism persistsĪllowances in China’s carbon market edged up over the past week, although the lack of policy direction continues to dampen market participants’ enthusiasm. COP hosts Egypt release beefed-up Paris Agreement pledge

#FUEL DRILLING PLANS UNDERMINE CLIMATE PLEDGES FREE#

France leads in latest 2022 EU carbon allowance allocationsĬountries including France made a tad more progress in June handing out this year’s free carbon permit allocations under the EU ETS, according to data from the European Commission.

Sustainable agriculture firm UPL on Friday announced the European leg of its plan to sequester 1 bln tonnes of CO2 through the generation of carbon offsets.

UPL launches European leg of ag-focused gigatonne carbon goal The UK has dished out £54 million across multiple carbon removal projects as the country looks to scale the technology to meet its mid-century net-zero target, the government announced Friday. UK pumps £54 mln into carbon removal tech projects Crypto carbon outfit promises 916,000% returns, targets EU ETSĪ new blockchain-based carbon venture that raised some $2.4 million in crypto coins in a recent launch will initially offer trade in tokenised EUAs and other compliance carbon units while promising a 916,474% first-year return for those investing in its governance token. Euro Markets: EU carbon dips amid weaker energy to notch 3.3% weekly dropĮU carbon posted its first five-day loss in a month on Friday, albeit amid modest volume and wide bid-offer spreads, while energy commodities also snapped their recent run of strong bullish performances amid speculation that gas flows from Russia could soon increase. EU adjustments to CO2 border measure risk further erosion of government aidĮU industries have another thing to worry about when it comes to the EU’s proposed carbon border adjustment mechanism (CBAM), and have moved on from campaigning against the removal of free allowances, to opposing the policy’s scope expansion, because of its knock-on effect for government handouts.

EU carbon the weakest H1 performer amid conflicting influences of reviving coal use and macro worriesĮU ETS prices ended H1 2022 nearly 12% higher than where they ended 2021, as soaring energy costs have raised the spectre of carbon demand destruction despite a steady bullish drumbeat coming from the revival in coal-fired power generation as Europe accelerates its switch away from Russian fossil fuels. TOP STORY Pennsylvania judge temporarily blocks RGGI regulation after seven-day linkageĪ Pennsylvania judge on Friday afternoon suspended the state from implementing its RGGI-linked cap-and-trade regulation just one week after the state entered the power sector carbon market, as Governor Tom Wolf’s (D) administration committed to appeal the ruling.ĮMEA EUA price of $300 in 2030 required for 1.5C warming and to avoid billions in financial losses -ECBĪ European carbon price of around $300 per tonne in 2030 is required to remain on an ‘orderly’ pathway to a Paris Agreement-aligned warming target, according to modelling in the European Central Bank’s first climate stress test published Friday that said stringent policy measures were urgently required to avoid billions of financial losses across euro zone banks.

#FUEL DRILLING PLANS UNDERMINE CLIMATE PLEDGES PLUS#

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Fuel drilling plans undermine climate pledges