Policy reform needed to mitigate carbon price impact on California energy costs, state watchdog says
While California’s cap-and-trade programme raised energy costs in 2023, lawmakers have a number of policy options to use revenues to better support consumers through the energy transition, the state’s carbon market watchdog said Thursday.
Read MoreNew York court dismisses city’s climate lawsuit against fossil fuel companies
The City of New York has effectively lost its lawsuit against several oil giants, failing to prove their claim that the companies misled consumers in marketing of climate-friendly practices, according to a decision filed in state court on Tuesday.
Read MoreUSDA invests $180 mln in biofuels, clean energy projects
The US Department of Agriculture (USDA) announced $180 million in funding on Wednesday for nearly 600 projects to support rural low-emission energy projects and expand access to biofuels.
Read MoreUS regulator publishes updated CO2 pipeline rules
A new proposal by a US regulator means CO2 pipelines could face new regulatory requirements as the industry prepares for nationwide expansion.
Read MoreCalifornia watchdog recommends changes to offsets, allowance allocation in state cap-and-trade programme
California’s carbon market watchdog proposed several options on Tuesday to revise the design of compliance instruments under the state’s cap-and-trade programme, including potential changes to offsets and allocation of allowances.
Read MoreCanadian CCS project threatened by cost challenges -report
An Alberta-based carbon capture and storage (CCS) project faces rising costs and weak revenue potential, jeopardising the viability of bringing the oilsands CO2 storage hub to fruition, a think-tank published Thursday.
Read MoreOil and gas emissions cap unconstitutional, Alberta asserts in public consultations
Alberta is doubling down on threats to take the Canadian federal government to court over its proposed fossil fuel extraction emissions cap, the provincial government said during a public comment period for the federal policy.
Read MoreClimate finance alliance announces CEO-led restructuring
The UN-launched financial alliance announced its restructuring on Friday along with a shift in focus to address barriers to mobilising capital.
Read MoreSeveral countries to use international carbon markets to achieve Paris goals, while others keep options open
A handful of mostly developing countries said they intend to use the Article 6 carbon markets to help finance their Paris Agreement climate plans by 2030 — or are keeping open the option to do so, according to the first round of transparency reports to be submitted to the UN every two years.
Read MoreCalifornia CCS project developer receives state’s first permits for CO2 storage
A subsidiary of a California oil and gas company received the state’s first permits authorising CO2 storage on Tuesday from the EPA, enabling the developer to move forward with construction of its carbon capture and sequestration (CCS) project, despite an outstanding legal challenge from environmental groups.
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