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NA Markets: California carbon allowances see steep drop, RGGI flattens on New Jersey finalisation

Published 22:57 on June 20, 2019  /  Last updated at 22:57 on June 20, 2019  /  Americas, Canada, US  /  No Comments

California Carbon Allowance (CCA) prices dropped significantly on the secondary market this week as aggressive sellers caused the first major retracement since this spring’s bull run began, while RGGI allowances (RGA) dipped slightly amid New Jersey finalising its regulations to join the nine-state ETS.

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New York legislature passes net-zero emissions legislation with offsetting

Published 22:44 on June 20, 2019  /  Last updated at 22:57 on June 20, 2019  /  Americas, Carbon Taxes, US  /  No Comments

The New York legislature late Wednesday passed an omnibus climate bill that will see the Empire State make deep emission cuts through 2050 with the possible use of some in-state offsets, though environmental justice groups lamented compromises made regarding the allocation of green project revenues.

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Oregon Senate Republicans evacuate state to protest ETS vote

Published 20:10 on June 20, 2019  /  Last updated at 22:32 on June 20, 2019  /  Americas, Canada, US  /  No Comments

Oregon Senate Republicans fled the state on Thursday in protest of a scheduled final vote of a cap-and-trade bill, leaving Democrats without a quorum to conduct any business in the interim.

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Ontario’s Ford appoints new environment minister in cabinet reshuffle

Published 16:29 on June 20, 2019  /  Last updated at 16:29 on June 20, 2019  /  Americas, Canada, Carbon Taxes  /  No Comments

Ontario Premier Doug Ford has appointed a new environment minister to replace Rod Phillips, who was shifted to the finance file in a major cabinet reshuffle on Thursday.

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CORRECTION – Canadian Conservative climate plan to eliminate CO2 tax, may count exports for Paris target

Published 01:15 on June 20, 2019  /  Last updated at 18:53 on June 20, 2019  /  Americas, Canada, Carbon Taxes, International, New Market Mechanisms  /  No Comments

Poll-leading Canadian Conservative Party leader Andrew Scheer said Wednesday that he would eliminate the ruling Liberals’ ‘backstop’ carbon tax and alter its output-based pricing system (OBPS) if elected as prime minister this fall, while potentially exploring the use of low-carbon exports to claim emission reductions towards the country’s Paris Agreement GHG target.

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Oregon Senate slated to vote on ETS bill Thursday

Published 20:49 on June 19, 2019  /  Last updated at 11:28 on June 20, 2019  /  Americas, Canada, US  /  No Comments

Oregon’s WCI-modelled cap-and-trade bill is expected to face a Senate vote later this week, despite Republicans threatening to explore various options to halt the proposal.

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California fuel consumption dips for second straight month, as power emissions decline

Published 19:58 on June 19, 2019  /  Last updated at 19:58 on June 19, 2019  /  Americas, Canada, US  /  No Comments

California’s fuel consumption continued to fall below prior years early in 2019, while greater hydro generation is also reducing ETS-covered emissions from the state’s electric grid, according to government data.

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Fund Climate Trust Capital begins monetising California offsets, eyes second investment vehicle

Published 19:52 on June 19, 2019  /  Last updated at 19:52 on June 19, 2019  /  Americas, Canada, US  /  No Comments

US-based fund Climate Trust Capital (CTC) is beginning to sell California Carbon Offsets (CCOs) generated through its first round of project investments, and it is targeting the launch of a second fund by early next year.

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US EPA finalises ACE rule as weaker Clean Power Plan replacement, bans trading

Published 19:44 on June 19, 2019  /  Last updated at 21:22 on June 19, 2019  /  Americas, US  /  No Comments

The US EPA finalised its Affordable Clean Energy (ACE) rule on Wednesday to replace the stayed Obama-era Clean Power Plan (CPP), with trading and biomass co-firing barred as compliance options and Democrat-led states already lining up to sue the agency.

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Pennsylvania to perform external analysis on economy-wide ETS, extending timeline to 2020

Published 19:17 on June 18, 2019  /  Last updated at 10:47 on June 19, 2019  /  Americas, US  /  No Comments

Pennsylvania’s Department of Environmental Protection (DEP) will partner with outside consultants to model the economic effects of implementing an economy-wide carbon market in the state, likely extending the decision on whether the agency will advance a green group-backed ETS petition to at least 2020, a source told Carbon Pulse.

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