California watchdog discusses price uncertainty of cap-and-trade as formal rulemaking nears
Recent public workshops and literature published by California regulator ARB demonstrate significant uncertainty in the price pathway forward for the state’s cap-and-trade scheme, while legislative developments could also complicate programme extension, the state’s carbon market watchdog said Monday.
Read MoreVoluntary carbon project developer shuts down, lays off remaining staff -media
An ocean carbon removal project developer has shut down and abruptly laid off all remaining staff on Friday, local media reported, as the firm said it has suffered from a collapse in voluntary carbon prices.
Read MoreCalifornia Legislature passes 2024-25 budget, allocates $40 mln for carbon removal
The California Legislature passed its 2024 budget in the form of Assembly Bill 107 (AB 107) on Thursday, and now awaits the approval of Governor Gavin Newsom (D) to conduct a total of $293 billion in spending, including $40 million for carbon removal research and development.
Read MoreCanadian emissions and GDP higher in 2030 without carbon pricing -government data
Both Canada’s emissions and GDP would be higher in 2030 without carbon pricing, according to data made public Thursday by Environment and Climate Change Canada (ECCC).
Read MoreMajor Canadian banks will continue to finance oil and gas as part of the energy transition
Canada’s five major banks are committed to serving their oil and gas clients towards long-term net zero goals, executives said before a parliamentary committee on Thursday, as elected officials questioned the specifics of the firms’ climate goals.
Read MoreCF NORTH AMERICA: Voluntary carbon market grows interest in removals, panellists maintain role for reductions
Prominent buyers in the voluntary carbon market (VCM) have raised the profile of removals credits, but costs remain high and reductions credits still have a key role to play in achieving voluntary net zero targets, panellists told conference attendees this week.
Read MoreCF NORTH AMERICA: Companies may opt out of SBTi pending outcome of Scope 3 emissions policy
Companies’ desire to be “quick and flexible” in meeting net zero targets may opt out of the Science-Based Targets initiative (SBTi), following recent internal controversy regarding the eligibility of voluntary carbon credits in offset of Scope 3 emissions under SBTi targets, conference attendees heard Wednesday.
Read MoreCF NORTH AMERICA: Canadian regulators prepare offset protocols amid uncertain demand
Federal regulators are planning to roll out a number of offset protocols in the near future, though future Canadian carbon credit demand remains uncertain as several elections could threaten markets, a conference heard Tuesday.
Read MoreCF NORTH AMERICA: Canada announces second carbon credit offtake agreement for CCS tech
Canada’s C$15 billion ($10.9 bln) public investment vehicle will purchase up to 200,000 credits per annum over 15 years at an initial fixed price from an Alberta carbon capture and storage (CCS) project, but an expert criticised the bespoke nature of federal offtake agreements thus far as insufficient to meeting climate goals.
Read MoreFEATURE: Major carbon removal project in US Gulf Coast faces substantial storage challenges
Hundreds of millions of dollars in federal funding currently back a direct air capture (DAC) project in the US Gulf Coast, but the developers have yet to reach a final decision on storage of captured CO2, while academics and community members heed caution towards industry scale-up in the region.
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