Climate tech company outlines largest US-based forestry project with high-profile buyers
A climate tech company announced the creation of the largest US-based forest carbon project by acreage on Wednesday, with large corporates and voluntary emissions reduction (VER) procurement firms among the first buyers.
Read MoreVirginia industry group pushes back on RGGI auction switch, labels programme an illegal tax
An industry group claimed Virginia’s revised RGGI regulation failed to adhere to enacting legislation in shifting to state-run auctions, while the finalised cap-and-trade rule should be stuck down as an illegal tax, according to a brief filed this week.
Read MoreNorth Carolina committee to consider RGGI rulemaking petition in June
North Carolina’s Air Quality Committee (AQC) will consider a petition next month to join the RGGI cap-and-trade programme via regulatory channels, with green groups arguing the proposed rulemaking would help the state reach long-term climate goals.
Read MoreUS non-profit to fund CO2 removal technology through carbon allowance purchases
A new non-profit organisation is aiming to reduce carbon emissions by investing in North American cap-and-trade programmes, with allowance revenues funnelled back into commercialising CO2 removal technologies.
Read MoreCalifornia gasoline consumption slips in February for second straight month
California fuel consumption dropped year-on-year for the second consecutive month in February as the ongoing COVID-19 pandemic continued to cause a slump in Golden State demand, according to state data released Monday.
Read MoreFinancial firms’ CCA position nears all-time high as allowances prices soar before Q2 auction
Speculators’ California Carbon Allowance (CCA) length surged to near record levels over the past week as prices jumped on the secondary market, while emitters cut their carbon permit holdings just before the Q2 WCI sale, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreGreen group asks Virginia commissions to reject Dominion’s RGGI rate request
An environmental group has asked the Virginia State Corporation Commission (SCC) to reject utility Dominion Energy’s proposal to recover RGGI allowance costs due to the lack of a least-cost analysis or a prudent procurement strategy, according to documents filed this week.
Read MoreNA Markets: California allowances soar to near all-time highs, RGGI rises on speculator interest
California Carbon Allowance (CCA) prices rose to near all-time highs this week amid a flurry of speculative activity before the Q2 WCI auction, while RGGI allowances also rose on the secondary market on relatively thin demand.
Read MoreWashington legislators mull options after partial vetoes of climate bills, as WCI link uncertain
Washington legislators are exploring ways to reverse Governor Jay Inslee’s (D) partial vetoes of their carbon market and low-carbon fuel standard (LCFS) bills, while regulatory experts believe future prospects for a WCI cap-and-trade link could hinge how the final rules are drafted.
Read MorePREVIEW: Speculative-fuelled CCA rises lead traders to foresee large Q2 WCI auction discount
Traders anticipate a steep discount to occur at the May 19 quarterly WCI auction, as California Carbon Allowance (CCA) prices have surged to near all-time highs on the secondary market this spring amid a wave of speculative interest.
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