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Newsflash

China to have world's 2nd largest carbon trading scheme by 2014

24th January, 2013

China will have the world's second largest carbon trading scheme by 2014, or twice as big as Australia's regime, a latest report showed Thursday.

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Carbon price of $29 'not implausible', says Blair Comley

20th January, 2013

THE head of the federal climate change department says it is "not implausible" the European carbon price could rise to $29 a tonne by mid-2015, when Australia's emissions trading scheme begins.

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California won’t hand out more free CO2 permits before auction

Despite pressure from industry, California will not increase the number of free permits it gives to its biggest carbon emitters prior to the state cap-and-trade system's Nov. 14 auction, the top air regulator said last week. Oil refiners and manufacturers have complained they will be put at a competitive disadvantage to out-of-state businesses by being forced to purchase 10% of the allowances they need to meet California's mandatory carbon emission limits.

“At this point, the only way we could free up more allowances or change the shape of the auction would be through a rule change,” Mary Nichols, chair of the Air Resources Board (ARB), told reporters. “So as of this point, I think the auction will go forward with the roughly 10% of allowances,” she said. California will put about 61.3 million carbon allowances for sale on Nov. 14 at its inaugural auction. Under the cap-and-trade program's rules, allowances must be sold for at least $10 each, the auction floor price.