California may fall short of 2030 GHG goal without steep fuel sector abatement, audit finds
California risks missing its 2030 climate goal unless it can drive faster emissions reductions from the transportation sector, while regulator ARB may be overstating carbon abatement resulting from incentive-based programmes and its economy-wide cap-and-trade scheme, a government audit found.
Read MoreLower demand, higher supply leading to wider California ‘Golden’ Offset premium
The premium for California Carbon Offsets financially backed against invalidation is rising amid increasing supply and lower demand during the COVID-19 pandemic, while participants continue to question whether an influx of buying will occur this year.
Read MoreCalifornia diesel consumption rises YoY in November as gasoline sales slump again
California diesel consumption eclipsed 2019 levels in November amid heavy port activity in the Golden State, while gasoline sales continued to languish during the COVID-19 pandemic, according to state data published Monday.
Read MorePennsylvania will advance RGGI regulation despite commission’s call for delay
Pennsylvania’s Department of Environmental Protection (DEP) will continue to advance its RGGI-modelled cap-and-trade regulation this year despite a state committee last week recommending that the agency delay the finalisation by one year.
Read MoreFinancials add to CCA length before WCI auction as emitters hold steady
Speculators bolstered their California Carbon Allowance (CCA) holdings this week ahead of the first WCI auction of the year, as compliance entities kept their length mostly unchanged, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreWashington lawmakers alter GHG baseline, remove fuel supplier phase-in for cap-and-trade proposal
Washington state lawmakers tweaked the emissions baseline, offset utilisation limits, and phase-in of fuel suppliers in an amended WCI-modelled cap-and-trade bill this week, while making additional changes to address environmental justice and equity concerns.
Read MoreUPDATED — California power sector emissions fall in 2020, as fuel consumption dips in December
California electricity sector emissions declined in 2020 due to lower overall consumption amid the COVID-19 pandemic, while federal data showed significant gasoline consumption reductions across the state in December.
Read MoreNA Markets: RGGI edges up on low liquidity, as CCAs sink before Q1 auction results
RGGI Allowance (RGA) prices inched up on the secondary market this week on thin volume, as California Carbon Allowance (CCA) values dipped slightly as traders expected Wednesday’s Q1 auction to settle at this year’s WCI floor price.
Read MoreUS fuel supplier hires Houston-based environmental trader
A Texas-based environmental trader has joined a Tennessee-based fuel supplier with obligations in the WCI cap-and-trade market, Carbon Pulse has learned.
Read MoreWCI speculators add current vintage length in front of February auction
Financial entities continued to ramp up their California Carbon Allowance (CCA) holdings ahead of next week’s WCI auction, as regulated entities cut their holdings amid rising secondary market prices, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
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