Road to compliance markets for carbon removals must address CDM -webinar
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.
Read MoreUS Forest Service defends timber targets in lawsuit for ignoring carbon emissions from logging
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.
Read MoreQuebec government advisory committee calls for cap-and-trade changes to increase cost of carbon
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.
Read MoreFEATURE: Legal, scientific scrutiny before ocean carbon-remover Running Tide ran aground
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.
Read MoreGeneral Motors to retire nearly 50 mln GHG credits following federal investigation
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.
Read MoreWCI Markets: CCAs rise amid workshop anticipation, WCAs up on low volumes
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.
Read MoreCanada modifies carbon intensity values of several feedstocks for Fuel Life Cycle Assessment Model
Canada has updated the carbon intensity values of various feedstocks used in the federal Fuel Life Cycle Assessment Model, including national and international grid electricity processes, fossil fuels, and crops.
Read MoreUS DOE announces $16 mln for CO2 conversion into new products
The US Department of Energy (DOE) announced Thursday that up to $16 million in funding will be available for large-scale conversion of CO2 emissions into carbon-based products.
Read MoreCanada announces first two-way carbon contract for difference
Canada’s C$15 billion ($10.9 bln) public investment vehicle has signed a carbon contract for difference (CCfD) with a municipal energy company at an initial strike price per tonne of CO2 for a 10-year term.
Read MoreTraders mostly shorten net length across North American carbon markets
Covered entities widened RGGI allowance (RGA) net length while traders mainly reduced holdings across California Carbon Allowances (CCAs), with muted activity in Washington Carbon Allowances (WCAs), according to weekly data from the US Commodity Futures Trading Commission (CFTC).
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