UPDATE – Five RGGI generators fail to meet March full compliance deadline
Five RGGI facilities failed to comply at the Mar. 1 deadline for the power sector carbon market’s 2018-20 compliance period, according to preliminary CO2 Allowance Tracking System (COATS) data.
Read MoreCalifornia offset task force completes final report with few changes
A California task force finalised recommendations on Tuesday to increase the supply of compliance offsets with a direct environmental benefit to the state (DEBs), with state regulator ARB slated to examine whether to proceed with the suggestions.
Read MoreUS to push countries for more ambitious Paris NDCs at April climate summit
US President Joe Biden’s (D) administration will urge nations to set more ambitious climate pledges during its spring climate summit, while the US will lay out its own revised nationally-determined contribution (NDC), Special Presidential Envoy for Climate John Kerry said at CERAWeek by IHS Markit on Tuesday.
Read MoreFour TCI jurisdictions release draft Model Rule with similarities to RGGI
Four US jurisdictions unveiled a draft Model Rule for the Transportation & Climate Initiative (TCI) cap-and-trade programme on Monday to regulate on-road diesel and gasoline emissions, with the proposal including several mechanisms from the RGGI carbon market.
Read MoreClimate impacts highlight need for credible near-term path to net zero targets, panellists say
The US and other countries will need to shift from emissions reduction planning to tangible policies and regulatory structures to drive those GHG cuts, panelists said at CERAWeek by IHS Markit.
Read MoreUtah power plant to analyse hydrogen storage for electricity decarbonisation
A Utah-based power plant that supplies electricity to California cap-and-trade emitters will be part of a study evaluating the cost effectiveness and efficiency of hydrogen energy storage, two companies announced Monday.
Read MoreEmitters and financials hold WCI positions firm before Q1 auction results
California cap-and-trade regulated entities and speculators kept positions largely unchanged on the secondary market over the past week as they waited for the results of the first WCI auction of the year, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreDeveloper dismisses need for California ODS protocol expansion, as stakeholders back controversial revisions
A leading ozone-depleting substance (ODS) developer has opposed the expansion of California’s compliance offset protocol, while many stakeholders backed a task force’s recommendations to reduce the invalidation period for credits and enable cap-and-trade emitters to transact their unused utilisation limits, according to public comments.
Read MoreNA Markets: CCA prices rise on Q1 auction sell out, RGGI drops ahead of quarterly sale
California Carbon Allowance (CCA) prices rose on the secondary market this week on the heels of the second consecutive WCI auction selling out, as RGGI allowance (RGA) values slipped ahead of the programme’s own quarterly sale next week.
Read MoreWCI current vintage auction sells out for second consecutive quarter
The Q1 California-Quebec current vintage auction cleared to enable unsold carbon permits to return next quarter, while the advance auction went fully subscribed for the first time since the WCI programme expanded to include the transportation fuel sector, according to results released Wednesday.
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