Stakeholders flood ARB with LCFS 15-day notice feedback, warn of potential litigation
California ARB’s 15-day notice to stakeholders of revisions to the Low Carbon Fuels Standard (LCFS) rule that upended earlier drafts has roiled stakeholders – particularly over new biomass-based diesel limitations – with some entities warning of potential litigation due to insufficient time for feedback on significant changes to the rule, in comments submitted to the regulator at the end of August.
Read MoreCalifornia LCFS takes the spotlight during contentious environmental justice meeting
Discussions surrounding California’s cap-and-trade programme took a backseat as a joint meeting Thursday between regulator ARB and the Environmental Justice Advisory Committee (EJAC) focused largely on shortfalls in proposed changes to the state’s Low Carbon Fuel Standard (LCFS).
Read MoreSecond lowest clearance ever at Washington’s Q3 allowance sale
Washington’s Q3 current vintage auction settled nearly $3 below front-month futures prices in the secondary market the day prior to the sale, with buyers recoiling from the uncertainty surrounding the future of the state’s carbon market.
Read MoreSouth Carolina AG sides with oil industry in climate-related lawsuit
South Carolina’s Attorney General (AG) has backed oil and gas firms in a lawsuit brought by a city that seeks compensation from fossil fuel companies for the impacts of their alleged climate deception and environmental negligence.
Read MoreProducers slash holdings across North American carbon markets, financials build CCA and RGGI net length
Financial entities continued to boost V25 California Carbon Allowance (CCA) holdings at the expense of V24 net length, while emitters cut holdings across North American carbon markets over the week ahead of third quarterly RGGI and Washington permit sales, according to data from the US Commodity Futures Trading Commission (CFTC).
Read MoreUS forest management firm’s 2023 CO2 removals surpassed emissions by almost 600%
A US forest management company reported that its forests removed nearly seven times more CO2 than it emitted in 2023, although overall removals decreased in comparison to previous years.
Read MoreWCI Markets: Traders take profits in CCAs, WCAs ease post auction
California Carbon Allowance (CCA) prices gave back early week gains as options churn continues to drive short-term volatility, while Washington Carbon Allowances (WCA) slipped after this week’s third quarter auction.
Read MorePREVIEW: Washington’s Q3 auction forecasts clouded by programme uncertainty
Market participants maintained modest expectations for the upcoming Washington Carbon Allowance (WCA) auction on Wednesday in light of ongoing anxiety surrounding the fate of the state’s cap-and-trade scheme.
Read MoreScientist offers recommendations to strengthen Washington state’s offset protocol
A scientist from a US non-profit research group on Thursday detailed several suggestions to strengthen Washington’s offset protocol, including considerations for programme eligibility and definitions related to reversals.
Read MoreIowa regulators issue CO2 pipeline permit with conditions
The Iowa Utilities Board (IUB) this week issued a construction permit for a proposed CO2 pipeline, but laid out additional conditions that must be met before the controversial project can proceed.
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