Key California agency heads, IEMAC members to discuss cap-and-trade improvements next week
Two California environmental agency officials and a pair from an independent market watchdog group will discuss improvements to the state’s WCI-modelled cap-and-trade programme at a Senate oversight hearing next week, but some advocates are seeking to delay the meeting, regulatory sources said.
Read MoreNA Markets: RGGI prices rise as cold snap persists, while California allowances inch up ahead of Q1 sale
RGGI Allowance (RGA) prices climbed to a nearly three-week high this week on thin secondary market activity, as California Carbon Allowance (CCA) values edged further away from the annual WCI floor price ahead of next week’s quarterly sale.
Read MoreCalifornia senators to scrutinise role of cap-and-trade in climate fight
A California Senate committee will hold a cap-and-trade oversight hearing next week to examine ways to improve the WCI-linked programme and its role in achieving the state’s long-term climate plan, a legislative source told Carbon Pulse.
Read MoreRGGI Q4 transactions skyrocket as post-2020 changes spark price spike -report
RGGI’s impending Emissions Containment Reserve (ECR) trigger price spurred a rise in allowance prices throughout Q4 2020, as the volume of units transferred between unaffiliated parties surged over the final months of the compliance period, according to a report released Tuesday.
Read MoreCalifornia offset task force recommends issuance improvements as it advances past ideas
California regulator ARB should provide greater guidance and streamline its compliance offset issuance process, while also adopting new protocols, reducing the default invalidation period, and allowing for tradeable compliance limits, an expert group wrote Monday.
Read MoreRGGI compliance entity, startup register in Northeast US cap-and-trade market
Two additional participants opened RGGI CO2 Allowance Tracking System (COATS) accounts on Monday, aligning with a growing trend of existing regulated entities opening new accounts in the power sector carbon market, programme data showed.
Read MoreCanada’s 2050 net zero goal achievable with further investments in long-term solutions -report
Canada can meet its goal of economy-wide net zero emissions by 2050, but to do so the government will need to implement more stringent climate policies, push existing GHG-cutting technologies, and back a variety of innovations to accelerate CO2 abatement, a new report found.
Read MoreSpeculators hit 1-year high on CCA length, as emitters reduce short positions on V21s
Financial entities increased their California Carbon Allowance (CCA) holdings this week by the largest amount in nearly a year, while regulated entities’ length potentially grew from short positions rolling off in January, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MorePennsylvania Republicans refute legal analysis, claim RGGI regulation is illegal tax
Pennsylvania Republicans have pushed back against analysis by two state agencies and an independent group that claim the state has the legal authority to implement a RGGI-modelled cap-and-trade regulation without the legislature’s approval.
Read MoreUPDATE – RGGI adds six new general accounts, with four connected to compliance
Six entities have opened RGGI CO2 Allowance Tracking System (COATS) accounts over the past month as allowance prices skyrocketed to an all-time high in the carbon market before retracing much of those gains, data shows.
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