PG&E bondholders, wildfire victims submit $29 bln alternative bankruptcy proposal
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.
Read MoreFEATURE: Canadian carbon markets, climate policy hinging on next week’s election
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.
Read MoreNA Markets: California allowances climb on option activity, RGGI dips on thin volume
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.
Read MoreANALYSIS: WCI regulated entities building length as California allowance prices dip
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.
Read MoreFuel, power must ramp up GHG reductions to hit California’s 2030 goal -BAML
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).
Read MoreCalifornia forestry offset protocol revisions may get bumped to 2020, sources say
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.
Read MoreOntario leader broke law in cancelling carbon market, court finds
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.
Read MoreTax CO2 from largest emitters $75/t by 2030 to avoid 2C temperature rise, says IMF
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.
Read MoreNA Markets: RGGI prices rise after Pennsylvania ETS announcement, California allowances creep lower
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.
Read MoreOntario slow to implement climate plan -report
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.
Read More