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PG&E bondholders, wildfire victims submit $29 bln alternative bankruptcy proposal

Published 19:27 on October 18, 2019  /  Last updated at 19:27 on October 18, 2019  /  Americas, Canada, US  /  No Comments

Competitors’ bankruptcy proposal for Pacific Gas & Electric (PG&E) would funnel nearly $29 billion through two stock offerings to help cover the embattled California utility’s wildfire liabilities, according to a filing by bondholders and fire victims on Thursday.

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FEATURE: Canadian carbon markets, climate policy hinging on next week’s election

Published 02:26 on October 18, 2019  /  Last updated at 21:36 on October 18, 2019  /  Americas, Canada, Carbon Taxes, International, RINs & LCFS, US, Voluntary Market  /  No Comments

An erosion of Canadian voter support for the incumbent Liberals and poll-leading opposition Conservatives may open a range of minority government possibilities ahead of the national election on Monday, the outcome of which will have a significant impact on the country’s federal and provincial climate policies and environmental markets.

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NA Markets: California allowances climb on option activity, RGGI dips on thin volume

Published 22:24 on October 17, 2019  /  Last updated at 01:54 on October 18, 2019  /  Americas, Canada, US  /  No Comments

California Carbon Allowances (CCAs) reversed their recent downward trend as option activity and spread trading spurred higher prices this week, while RGGI allowance (RGAs) declined on thin volume on the secondary market.

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ANALYSIS: WCI regulated entities building length as California allowance prices dip

Published 19:13 on October 15, 2019  /  Last updated at 01:11 on October 16, 2019  /  Americas, Canada, US  /  No Comments

Regulated entities in the WCI-linked ETS are increasingly taking long positions in the programme as California Carbon Allowance (CCA) prices retreat from record highs, while also selling call options further out on the curve, according to US Commodity Futures Trading Commission (CFTC) data.

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Fuel, power must ramp up GHG reductions to hit California’s 2030 goal -BAML

Published 16:18 on October 14, 2019  /  Last updated at 16:18 on October 14, 2019  /  Americas, Canada, RINs & LCFS, US  /  No Comments

California’s transportation and electricity sectors will have to cut emissions faster in the post-2020 period to ensure the state reaches its 2030 goal, potentially putting bullish pressure on California Carbon Allowance (CCA) prices, according to analysis from Bank of America Merrill Lynch (BAML).

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California forestry offset protocol revisions may get bumped to 2020, sources say

Published 22:23 on October 11, 2019  /  Last updated at 23:13 on October 11, 2019  /  Americas, Canada, US  /  No Comments

California regulator ARB may not begin the process of updating its WCI forestry protocol until next year, as it completes work on various regulatory priorities in the final quarter of 2019, sources told Carbon Pulse.

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Ontario leader broke law in cancelling carbon market, court finds

Published 18:34 on October 11, 2019  /  Last updated at 23:07 on October 11, 2019  /  Americas, Canada, US  /  No Comments

Ontario Premier Doug Ford violated environmental law when he abruptly cancelled the Canadian jurisdiction’s WCI-linked ETS last summer, a provincial court said in a split ruling on Friday that will not have a material impact on the province’s current climate policy.

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Tax CO2 from largest emitters $75/t by 2030 to avoid 2C temperature rise, says IMF

Published 01:22 on October 11, 2019  /  Last updated at 01:38 on October 11, 2019  /  Africa, Americas, Asia Pacific, Australia, Aviation, Canada, Carbon Taxes, China, Climate Talks, EMEA, International, Japan, Mexico, Middle East, New Zealand, Other APAC, REDD, Shipping, South & Central, South Korea, Switzerland, US  /  No Comments

A global temperature rise of 2 degrees C could be avoided if large emitting countries collectively adopt a carbon tax of $75/tonne by 2030, as well as other ambitious actions, according to a report by the International Monetary Fund.

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NA Markets: RGGI prices rise after Pennsylvania ETS announcement, California allowances creep lower

Published 22:33 on October 10, 2019  /  Last updated at 23:54 on October 10, 2019  /  Americas, Canada, US  /  No Comments

RGGI allowance (RGA) prices rose by double digits this week after Pennsylvania announced plans to design an ETS compatible with the Northeast US carbon market, while California Carbon Allowances (CCAs) continued to decline on the secondary market.

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Ontario slow to implement climate plan -report

Published 22:20 on October 10, 2019  /  Last updated at 00:02 on October 11, 2019  /  Americas, Canada, Carbon Taxes, US  /  No Comments

Ontario’s Progressive Conservative government has dithered on rolling out the climate plan it unveiled nearly a year ago, with weaker industry carbon pricing standards and no progress on an emission reduction fund underscoring those delayed efforts, according to a report published Thursday.

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