Oregon details final considerations for policy changes to its clean fuels programme
Oregon’s Clean Fuels Program (OCFP) revisions will include an insurance mechanism for carbon capture and sequestration (CCS) projects, validation mandates, and changes to third party verification provisions, in addition to carbon intensity (CI) model updates, the regulator confirmed Wednesday.
Read MoreWashington state court’s ruling against lawsuits blocking cap-and-invest repeal reaching November ballot raises transparency concerns
The Washington Supreme Court rejected challenges by non-profits against certification of recent initiatives, including one to repeal the state’s ETS, with the initiatives’ sponsor bewailing lack of transparency on complaints filed.
Read MoreSpeculators continue to bag V25 CCAs, while producers stack on RGGI length
Financial entities continued to add new length to their long-dated California Carbon Allowance (CCA) holdings while reducing net positions in other North American carbon markets over the week, while producers continued to stack on RGGI Allowance (RGA) length, according to weekly data from the US Commodity Futures Trading Commission (CFTC).
Read MoreWCI Markets: CCAs rebound from YTD lows, but continue to trail WCA prices
California Carbon Allowance (CCA) prices reversed course from year-to-date lows this week, but remained below Washington Carbon Allowance (WCA) figures amid the ongoing WCI market bearishness due to programme reform implementation delay.
Read MoreCalifornia watchdog hears CCS deployment concerns, discusses revenues under proposed cap-and-trade changes
Carbon management projects currently lack oversight and need improved guardrails for implementation, panellists at a session held by California’s carbon market watchdog said Wednesday, while others detailed their input on ARB’s considerations for allowance budget removals in the most recent rulemaking workshop.
Read MoreEmitters, green groups flag concerns over draft Oregon CPP rules
Oregon’s recently proposed Climate Protection Program (CPP) rulemaking could potentially create emissions leakage, according to stakeholder comments in a public consultation process, which also raised concerns over cap adjustment and the impact of compliance costs.
Read MoreBRIEFING: Kamala Harris picks Minnesota Governor Tim Walz as her running mate
US Vice President Kamala Harris, the Democratic presidential nominee, on Tuesday selected Minnesota Governor Tim Walz (D) as her vice presidential candidate, garnering support from green groups that have commended the state leader’s climate efforts since he took office in 2019.
Read MoreAnalysts reduce CCA price estimates following rulemaking delay, call WCAs overvalued
Analysts have once again lowered their California Carbon Allowance (CCA) price forecasts to account for the extended rulemaking timeline, and expect Washington Carbon Allowance (WCA) prices to remain steady despite being “overvalued” due to the ongoing threat of a repeal.
Read MoreSpeculators realise profits as RGAs peak, build CCA net length
Financial entities have closed out of their long positions in the RGGI Allowance (RGA) futures and options market as prices recorded new all-time highs, and instead boosted their California Carbon Allowance (CCA) holdings, while producers shed their CCAs in favour of RGAs, according to weekly data from the US Commodity Futures Trading Commission (CFTC).
Read MoreOCFP net credit generation in Q1 trails last quarter’s record high
Net credit generation under Oregon’s Clean Fuels Program (OCFP) in Q1 receded from the previous quarter on lower biodiesel and ethanol contributions, although cumulative surplus rose to nearly 1.3 million on record renewable diesel net credit output.
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