Early activation of Paris Agreement to boost confidence, if not targets

The Paris Agreement could come into effect in 2018, two years earlier than originally planned, according to UN climate chief Christiana Figueres, increasing the currently slim chances that nations will swiftly deepen their emission reduction pledges.

An early start to the Paris pact is possible because in the final text there was no reference to the deal coming into effect from 2020, Figueres said during a question-and-answer session after delivering a lecture in London late Monday, Bloomberg reported.

Read the full story here: Carbon Pulse 

Shanghai CO2 price fall continues even as fresh demand emerges

Shanghai CO2 allowances fell another 10% on Wednesday, the maximum allowed daily price movement, even as buyers stepped in to pick up permits at record low levels.

SHEAs ended Wednesday at a fresh record low of 4.20 yuan ($0.65), down half a yuan on the day, as smaller emitters continued to offload their annual allowance surplus.

The price has now dropped some 61% since Mar. 25.

Over 55,000 allowances traded Wednesday. That was well above the combined 60,000 units traded over the previous three sessions, which itself was well above the low turnover typically seen outside of the weeks running up to the June compliance deadline.

Read the full story here: Carbon Pulse