California needs to begin cap-and-trade rulemaking soon to achieve long-term goals -panel
California should start a cap-and-trade rulemaking concurrently with its Scoping Plan update to ensure long-term climate goals are met, while Canadian provinces could look at other carbon pricing options to comply with the federal ‘backstop’ mandate, panelists said at the North American Carbon World (NACW) conference on Thursday.
Read MoreWCI allowance prices likely to rise in latter half of decade as emissions outpace CO2 caps -analysis
California and Quebec emissions will outpace WCI cumulative CO2 caps towards the latter half of the decade, with annual shortages anticipated as early as two years from now, analysts said at the North American Carbon World conference Thursday.
Read MoreNA Markets: California allowances continue bullish surge as RGGI edges down on thin volume
California Carbon Allowance (CCA) prices rose on the secondary market amid increased speculative demand and continued bullish floor price outlooks, while RGGI Allowances (RGA) sunk amid relatively thin volume.
Read MoreUS DOJ, California agree to dismiss WCI linkage lawsuit
A federal court dismissed a US Department of Justice (DOJ) appeal on Wednesday that challenged the constitutionality of the California-Quebec WCI cap-and-trade programme linkage, according to court documents.
Read MoreArticle 6 clarity this year could bolster investor confidence in low-carbon initiatives -panel
Further clarity this fall on the Paris Agreement’s rules for international emissions trade could incentivise additional financing in low-carbon initiatives to reach long-term GHG goals, while some sectors are seeing rising competition in the voluntary offset space, a panel heard Wednesday.
Read MoreCalifornia gasoline consumption hits 3-mth high as demand remains below 2020 levels
California gasoline consumption rose in February over the prior month as Governor Gavin Newsom eased COVID-19 restrictions, but demand continues to remain below pre-pandemic levels, according to federal data released Tuesday.
Read MoreUS bolstering climate resiliency as Biden administration eyes ambitious NDC
President Joe Biden’s administration intends to advance climate resiliency strategies across the federal government as the US is set to lay out a more ambitious Nationally Determined Contribution (NDC) to the Paris Agreement this week, panelists said Tuesday.
Read MoreOffset developers, registries must bring higher-integrity protocols to market -report
Voluntary carbon market (VCM) participants and registries need to quickly scale-up high integrity offset protocols amid rising corporate demand, while also making tweaks to existing protocols to account for inadequacies, according to a white paper published Monday.
Read MoreNYISO continuing work with state officials after US FERC statement on carbon pricing
Grid operator New York Independent System Operator (NYISO) is working with state officials to support its carbon pricing proposal for the wholesale power market after the US Federal Energy Regulatory Commission (FERC) concluded the agency has jurisdiction over the matter.
Read MoreUS FERC finalises electricity sector carbon pricing statement
The US Federal Energy Regulatory Commission (FERC) finalised a carbon pricing policy statement on Thursday to inform future market rules for regional grid operators, with the agency concluding that incorporating a CO2 price on wholesale power markets was within its purview.
Read More