CF 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.
Read MoreSpeculators close V24 holdings in California and RGGI, traders remain short in Washington
Speculators reduced their net length in V24 California Carbon Allowances (CCAs) and RGGI Allowances (RGAs), while both managed money and emitters widened their net short position in Washington Carbon Allowance (WCA) holdings, according to weekly data from the US Commodity Futures Trading Commission (CFTC).
Read MoreWCI Markets: Traders temper expectations for California ETS workshop, WCA activity up a notch
California Carbon Allowance (CCA) prices gradually edged higher through a busy week of both Q2 WCI auction results and a cap-and-trade workshop, while Washington Carbon Allowance (WCA) prices also increased with a pick up in weekly transacted volumes.
Read MoreUS DOE funds $1.2 mln across 24 carbon removal project developers
The US Department of Energy (DOE), which will ultimately purchase $35 million worth of carbon dioxide removal (CDR) credits from project developers, announced the 24 awardees selected in its first phase of funding on Tuesday.
Read MoreUS Policy Roundup: Illinois advances regulation of carbon capture and storage
A carbon capture and storage (CCS) bill awaits Illinois Governor Jay Pritzker’s (D) signature to become law, and appears to have adopted language from a slew of CCS bills covering pore space ownership, emergency management, and sequestration fees.
Read MoreUS CO2 pipeline developer accused of ignoring North Dakota landowners in ongoing permit hearing
A CO2 pipeline developer was accused of a lack of communication from landowners during a North Dakota Public Service Commission (PSC) hearing Friday, in its second attempt to secure construction permits, local media reported.
Read More