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*TOP STORY* EU Market: EUAs extend year-high to close in on €30 as ‘mystery’ buying continues
EUAs rose more than 6% on Monday, extending last week’s year-highs despite a weak auction as market participants grew more frustrated with the growing, speculator-fuelled disconnection between soaring prices and dimming fundamentals.
*EMEA* EU legislators must pass climate law quickly to speed ETS review -senior official
EU co-legislators must quickly reach an agreement on the bloc’s upgraded 2030 target as a subsequent ETS review “cannot afford any delays”, an advisor to European Commission President Ursula von der Leyen said on Monday. Eastern EU states could ramp up renewables at lower cost -report
Four EU nations could ramp up their renewables deployment through 2030 at a lower cost than current plans, while almost halving their power emissions, analysts said in a report published on Monday. EU lawmakers strike softer tone on gas funding in Just Transition vote
Lawmakers in the European Parliament on Monday opened the door to the EU’s €40 billion Just Transition Fund (JTF) being able to fund natural gas projects, setting up a potential clash with member states.
*AMERICAS* WCI emitters slow compliance account transfers as allowance surplus grows
WCI regulated entities pared back on shifting allowances into compliance accounts ahead of the cap-and-trade programme’s November partial compliance deadline, while total permit holdings incrementally rose due to May’s undersubscribed auction, according to California-Quebec data released Monday. California compliance entities increase allowance length as speculators maintain positions
WCI regulated parties bolstered their net long California Carbon Allowance (CCA) holdings at the end of the second quarter, while speculators’ long positions largely remained unchanged, according to US Commodity Futures Trading Commission (CFTC) data released Monday. Prince Edward Island climate committee recommends CO2 pricing overhaul
Prince Edward Island (PEI) should implement a more effective carbon pricing system to hit its GHG reduction target than the Canadian province’s current approach, a legislative committee said.
*ASIA PACIFIC* China coal data cut-off raises concerns over repercussions for carbon
Six of China’s biggest utilities have stopped submitting daily coal data to one of the country’s leading energy and economic indicators, creating expectations that coal prices might rise and add to the pushback against putting in place an effective carbon price. New Zealand coalition partner moves to limit forest carbon
The biggest of New Zealand’s government coalition partners has pledged to revise legislation to limit the conversion of productive farmland to forests if it remains in power after September’s election.
*PODCAST* CARBON PULSE CONVERSATIONS 014: MexiCO2
In the latest edition of our Carbon Pulse Conversations podcast, we chat with Eduardo Piquero, general director of Mexico City-based environmental consultancy MexiCO2, regarding carbon pricing developments at the national and subnational level in Mexico.
*Job listings this week*
– Value Chain Certification Officer, SustainCERT – US Remote
*Or click here
*BITE-SIZED UPDATES FROM AROUND THE WORLD*
*Build back better fossil – *Major nations including the US and Russia are throwing a lifeline to fossil fuel companies
*Forest fever -* Online climate news outlet DeSmog UK turns its focus to major oil companies’ interest in nature-based solutions
*Line ‘em up and knock ‘em down, part 1 –* The Dakota Access pipeline must shut down by Aug. 5
*Line ‘em up and knock ‘em down, part 2 –* Monday’s ruling on Dakota Access came just a day after utilities Dominion Energy and Duke Energy abandoned their $8-bln Atlantic Coast Pipeline
*In the mix – *The climate policy task force that US Democratic presidential nominees Joe Biden and Bernie Sanders created is slated to recommend that Biden seek a fully renewable electricity mix by 2035, the New York Times reports
*Hack for hire* – Democratic Senator Sheldon Whitehouse has written to Attorney General William Barr outlining his concerns about potential “political interference” by the Trump administration in an investigation of a private espionage firm that targeted environmental groups in the US. Last month Reuters reported that US law enforcement was investigating aspects of a seven-year-long hack-for-hire operation carried out by a New Delhi-based firm called BellTroX InfoTech Services on behalf of unknown clients. Whitehouse said the investigation was being carried out by prosecutors in New York and that unnamed sources had alerted his office that the Department of Justice has taken what he said was “an interest in this matter which seems inconsistent with ordinary procedure.” Whitehouse declined to provide details or identify his sources, saying only that they had “first-hand knowledge of the matters under investigation”. He added that the interest was inconsistent with the independence of the US attorney’s office in Manhattan and raised the possibility that the case “will fall victim to political pressure from Washington.”
*Summer school – *The Oregon Department of Environmental Quality (DEQ) submitted its final report
*And finally… Pink peaks – *Scientists in Italy are investigating
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