Traders 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).
Read MoreWCI Markets: Impatience grows in CCAs, WCAs up on low volumes
California Carbon Allowance (CCA) prices moved lower as market participants looked for direction from California regulator ARB, while Washington Carbon Allowance (WCA) prices picked up on steady offers.
Read MoreCanadian emissions cap would curtail oil and gas production, reduce GDP by C$282 bln over 10 years
Under a Canadian emissions cap, oil and gas producers would reduce output rather than invest in carbon capture and sequestration (CCS), resulting in a C$282 billion ($205 billion) decline in GDP over the next 10 years, according to a report commissioned by the province of Alberta.
Read MoreCanadian project developer to generate voluntary carbon credits with British Columbia First Nation
An agreement signed between a northwestern British Columbia First Nation and a Vancouver-based project developer will see the generation of voluntary carbon offsets via improvement of 1.1 million hectares (2.7 million acres) of forest, the duo announced Tuesday.
Read MoreCanadian think tank looks to support first-time voluntary carbon removal buyers
The first-time purchase of CO2 removal (CDR) credits by a Canadian innovation hub offers key learnings for other new buyers, according to a case study published Tuesday.
Read MoreCalifornia 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.
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