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British Steel gets £100m government loan to pay carbon bill

British Steel has secured a £100m loan from the government to pay its EU carbon bill, a source close to the company has said. The money means the private equity-owned firm will avoid a steep EU fine. The firm said earlier this month it needed the funds to settle its 2018 pollution bill due at the end of April.... An excerpt from...

Members of the European Parliament urge California to exclude REDD from its cap and trade scheme: “Adopting the Tropical Forest Standard would water down climate ambition in California, the...

Last week, six Members of the European Parliament wrote to the California Air Resources Board urging the ARB to reject the proposed California Tropical Forest Standard. In November 2018, the ARB held a public meeting about the proposed Tropical Forest Standard. But the Board failed to reach a decision at that meeting. The EU has never allowed forest credits in...

California defends decision to maintain post-2020 ETS caps as it confirms surplus volume

California regulator ARB defended its decision to maintain the current emissions cap trajectory of its WCI-linked ETS to 2030, despite confirming that there were more than 218 million surplus compliance units at the end of the market’s second compliance period, according to a letter sent to legislators Tuesday.... An excerpt from Carbon Pulse

Guangdong carbon market closes higher

Carbon emissions allowances closed at 22.49 yuan (3.35 U.S. dollars) per tonne on Wednesday, 0.13 percent up from Tuesday, at the China Emissions Exchange (Guangzhou), the largest local carbon market in China. The allowances, officially known as Guangdong Emissions Allowances (GDEA).. Since its opening in December 2013, the market has traded 112.13 million tonnes of GDEA, with a total turnover...

Virginia completes rule to allow trading with RGGI

Virginia air regulators have finalized a regulation that imposes a declining cap on carbon emissions from the state's utilities and is intended to allow trading with the Regional Greenhouse Gas Initiative (RGGI) cap-and-trade program in the Northeast and Mid-Atlantic. However, Gov. Ralph Northam (D) is facing pressure to issue a line-item veto of a GOP-authored provision in the state...

‘Unrelenting and unhedgeable’: the EU’s largest emitter on Brexit’s carbon trading risks

The risks presented by Brexit to the largest emitting company in the EU ETS are unrelenting and unhedgeable, according to RWE Supply and Trading’s head of regulatory affairs....An excerpt from Carbon Pulse

Nova Scotia ETS kicks off as first allowances distributed

"Nova Scotia allocated its first cap-and-trade permits on Monday following the start of its ETS on Jan. 1, though several design elements of the Canadian province’s programme are still to be determined over the coming year.... An excerpt from Carbon Pulse"

British Steel Seeks £100 Million Government Loan After Being Left Out Of EU Scheme

British Steel is seeking a £100 million Government loan after failure to pass a Brexit deal left it out of an EU-wide carbon trading scheme, according to reports.British Steel is understood to be seeking the loan because of the EU’s decision to suspend usual permits for UK-based companies, under its carbon emissions trading system....An excerpt from Huffpost

UK pushes EU ETS compliance deadline back to April 30

The UK government has pushed back the compliance deadline for EU ETS installations to April 30, following the EU’s decision to grant a six-month extension to the Article 50 deadline this week....An excerpt from Montel

EU states dole out another 62 mln free EUAs, bringing 2019 completion rate to near 80%

A handful of EU member states doled out another 61.7 million free carbon allowances in the past two weeks, with laggards Italy and Spain making big steps towards completing their 2019 allocations....An excerpt from Carbon Pulse

Climate Change Minister James Shaw snubs two-tier Emissions Trading Schemes

Climate Change Minister Minister James Shaw has snubbed recommendations from the environment watchdog for two separate Emissions Trading Schemes — one for fossil fuels and one for farming and forestry. Shaw and Forestry Minister Shane Jones later announced a change to the ETS that will change how forest owners are paid for the carbon their trees absorb from 2021. The...

World first soil carbon project a giant leap for humankind

The Grounds Keeping Project sequestered 11t CO2-e/ha on farm land between baseline and second round soil sampling over a period of 1 year. This level of sequestration is equivalent to what might be expected from an environmental plantings project in the same region. Furthermore, it is not taking land out of food production, meaning it is agriculture plus carbon...

UPDATE 1-China expects first trade in national emissions scheme in 2020

China expects to make the first trade on the long-awaited national emission trading scheme in 2020, a senior climate official said on Saturday, as part of Beijing’s efforts to fulfill its commitment to reducing greenhouse gas emission. “China will speed up construction of the national carbon trading scheme this year and aim to carry out the first trade among coal-fired...

Manufacturers Have Trouble Securing Carbon Credits Due to Sharp Decline in Trading

As no carbon emission permits have been put up for sale for a while despite high prices, there has been no emission permit transaction in the market. As a result, companies which have failed to secure carbon credits are facing a crisis. They want to buy emission permits even with high prices, but they cannot get them and are...

ETS revamp: averaging accounting for forests

Forestry Minister Shane Jones and Climate Change Minister James Shaw have today announced a second set of changes to the Emission Trading Scheme (ETS) as part of broader reforms to make the scheme fit-for-purpose. “The timing of this decision – as the 2019 planting season is about to get under way – is important for forest owners. They can now...

Emissions Trading announcement is incentive for farmers

Forest owners believe the just announced reform of the Emissions Trading Scheme will encourage farm foresters and hill country pastoral farmers to plant more trees. Farm Forestry Association Chair, Neil Cullen, says carbon average accounting, where a forester is not penalised for harvesting so long as they replant, will encourage farmers to plant out land in forests, without a concern...

Linking of the Swiss and EU emissions trading systems: CO2 Ordinance revision enters consultation phase

On 25 March 2019, the Federal Department of the Environment, Transport, Energy and Communications (DETEC) opened the consultation on the partial revision of the current CO2 Ordinance. The amendment is needed so that the Swiss and EU emissions trading schemes (ETS) can be linked. From 2020, emissions from civil aviation and fossil power plants will be included in the...

South Carolina forestland owners’ willingness to accept compensations for carbon sequestration

This study investigated South Carolina forestland owners’ willingness to generate and sell carbon credits to California’s cap-and-trade program. We used a sample of 784 private forestland owners’ responses to a contingent valuation survey in SC. As part of the main objectives of this study, our estimated average willingness to accept (WTA) in order to supply carbon credits to California’s...

[Australia] Labor edges away from using Kyoto credits to reach Paris target

Bill Shorten has signalled Labor is highly unlikely to use carryover credits from the Kyoto protocol as part of its climate change policy, which will be unveiled over the coming weeks. Labor has already released its policy for reducing emissions in the electricity sector. Shortly the opposition will unveil the rest of its policy measures, expected to include a trading...

UK further postpones EU ETS compliance deadline

The UK government has again pushed back its deadline for firms to surrender EU emissions trading system (ETS) allowances to cover their emissions from the 2018 calendar year, following the EU's decision to delay the UK's EU exit.... An excerpt from Argusmedia