WCI Markets: Delayed implementation of ETS changes overshadows bullish takeaways from ARB rulemaking workshop

Published 01:27 on July 12, 2024  /  Last updated at 01:38 on July 12, 2024  / Allison Gacad /  Americas, Canada, US

California Carbon Allowance (CCA) prices struggled to register upside despite some clarity on ARB’s allowance budget cut plans at Wednesday’s rulemaking workshop, given the unexpected delay in implementation, pushed further to 2026.

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California’s LCFS may be increasing emissions beyond the state -report

Published 23:28 on July 11, 2024  /  Last updated at 03:13 on July 12, 2024  / Allison Gacad /  Americas, Asia Pacific, Other APAC, RINs & LCFS, South & Central, US, Voluntary

California’s Low Carbon Fuel Standard (LCFS) falls short in accounting for secondary effects, economists at the University of California said in a report Tuesday, as the recent boom in renewable diesel (RD) production has led to global agricultural land-use change not fully accounted for in the programme.

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South Dakota carbon pipeline law faces possible repeal in November

Published 01:19 on July 10, 2024  /  Last updated at 01:19 on July 10, 2024  / Allison Gacad /  Americas, US, Voluntary

A South Dakota carbon pipeline law faces a petition with tens of thousands of signatures that could send the measure to a vote in November, as a sustainable aviation fuel (SAF) industry-backed campaign has emerged to defend the regulation.

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Environmental non-profits urge RGGI states to provide Third Program Review update -media

Published 00:41 on July 10, 2024  /  Last updated at 00:39 on July 10, 2024  / Allison Gacad /  Americas, US

A coalition of green groups have signed letters to the 10 RGGI states, urging their environmental authorities to clarify the schedule of anticipated changes to the power sector carbon market, now six months overdue its targeted conclusion date.

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Road to compliance markets for carbon removals must address CDM -webinar

Published 01:01 on July 9, 2024  /  Last updated at 01:01 on July 9, 2024  / Allison Gacad /  Americas, Asia Pacific, Climate Talks, EMEA, International, Paris Article 6, US, Voluntary

The lack of an existing precedent for carbon removals under the UN Clean Development Mechanism (CDM) is “a blessing and a curse”, said a member of the Paris Agreement’s Article 6 Methodological Expert Panel during a webinar Monday, as market standards are yet to be developed under Article 6.

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US Forest Service defends timber targets in lawsuit for ignoring carbon emissions from logging

Published 22:51 on July 5, 2024  /  Last updated at 22:51 on July 5, 2024  / Allison Gacad /  Americas, US

The US Forest Service, responsible for stewardship of public forest acreage, defended its timber targets as part of its process to secure funding from Congress, and thus not subject to federal environmental law, in recent updates to a lawsuit filed by environmental groups against the agency.

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Quebec government advisory committee calls for cap-and-trade changes to increase cost of carbon

Published 23:20 on July 4, 2024  /  Last updated at 23:20 on July 4, 2024  / Allison Gacad /  Americas, Canada, US

The cost of a carbon allowance in Quebec’s carbon market is too low to limit global temperature increase to 2C, a government advisory committee said in a report published Wednesday, as they called for revisions to the province’s cap-and-trade programme to encourage further emissions reductions and increase the cost of carbon.

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FEATURE: Legal, scientific scrutiny before ocean carbon-remover Running Tide ran aground

Published 00:40 on July 4, 2024  /  Last updated at 02:25 on July 5, 2024  / Allison Gacad /  Americas, EMEA, US, Voluntary

Maine-headquartered Running Tide, the now-shuttered ocean carbon removal project developer, saw only a handful of early buyers and investors patient enough to see through the company’s delivery of voluntary carbon credits, as critics slate and executives defend its efforts to scale up.

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General Motors to retire nearly 50 mln GHG credits following federal investigation

Published 22:37 on July 3, 2024  /  Last updated at 22:37 on July 3, 2024  / Allison Gacad /  Americas, US

US auto manufacturer General Motors (GM) will retire approximately 50 million credits under the Environmental Protection Agency’s (EPA) greenhouse gas (GHG) programme, after the agency identified excess CO2 emissions from approximately 5.9 million GM vehicles.

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WCI Markets: CCAs rise amid workshop anticipation, WCAs up on low volumes

Published 20:27 on July 3, 2024  /  Last updated at 20:27 on July 3, 2024  / Allison Gacad /  Americas, Canada, US

California Carbon Allowance (CCA) prices moved higher as market participants positioned ahead of next week’s rulemaking workshop, while Washington Carbon Allowance (WCA) values were up, with volumes picking up momentarily in the otherwise muted market.

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