Virginia court sets next hearing for industrial group’s RGGI challenge
A Virginia state court on Thursday set a hearing late this summer for a lawsuit filed by an industrial group that challenges the legality of the state’s RGGI-modelled cap-and-trade regulation, court records show.
Read MoreNA Markets: RGGI benchmark contract climbs back to $8, CCAs dip toward floor price
RGGI Allowance (RGA) values increased on thin secondary market volume this week to counteract some losses from earlier in March, while California Carbon Allowances (CCAs) edged closer to the WCI floor price amid rising Q2 auction volume.
Read MoreProposed Quebec LNG terminal may have limited long-term climate benefits -gov’t report
A proposed Quebec liquefied natural gas (LNG) terminal may provide few long-term climate benefits if constructed, with declining future foreign demand potentially making the facility redundant, according to a government report published Wednesday.
Read MoreRGGI may struggle to hold bankrupt entities accountable for CO2 obligations, sources say
RGGI states may struggle to find ways to insulate the scheme from bankruptcy filings, with New York aiming to examine all elements during the upcoming programme review process, regulatory sources told Carbon Pulse.
Read MoreCalifornia offset investigations sat in limbo after ARB discovered violations, documents show
California regulator ARB spent months evaluating whether to open offset investigations after discovering potential regulatory violations at two livestock projects, according to documents obtained by Carbon Pulse.
Read MoreAdditional permit allocations to lower RGGI auction supply for remaining 2021 sales
RGGI’s remaining auctions this year will see total volume decline by roughly 4% from the Q1 sale, after two member states set their allowance allocation levels following the power sector carbon market’s bank adjustment announcement last week, data showed.
Read MoreUtah legislature reapproves funding for lawsuit challenging California climate policies
Utah Republicans restored funding to challenge California’s cap-and-trade programme and emissions performance standing (EPS), with the lawsuit likely to progress this summer, state officials told Carbon Pulse.
Read MoreWCI emitters cut carbon holdings for sixth consecutive week, as speculators hold firm
WCI compliance entities slightly cut their California Carbon Allowance (CCA) holdings over the previous week, while speculators largely maintained their permits over the period, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreWCI auction volume for May sale surges 30% on higher consignment, unsold allowances
The California-Quebec Q2 cap-and-trade auction will include more allowance supply than the previous quarter due to the reintroduction of unsold carbon permits and higher consignment, according to an auction notice published Friday.
Read MoreNA Markets: RGGI prices retrace after bank adjustment announcement, while CCAs languish
RGGI Allowance (RGA) prices dropped on the secondary market this week after briefly rising following the programme’s five-year bank adjustment announcement, while California Carbon Allowances (CCAs) edged down as entities looked to shift positions out on the curve.
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