WCI offset usage slips to just under 4% in 2021-23, compliance data shows
Emitters in California’s carbon market more than halved their use of offsets during the 2021-23 compliance period, driving overall utilisation under the scheme to below 4% despite an uptick in WCI partner Quebec, government data published Friday showed.
Read MoreBRIEFING: EPA defends power plant emissions rules before DC circuit
The US EPA’s power plant emissions rules were tested Friday before a three-judge panel as attorneys representing Republican states argued that the rules didn’t properly consider the costs of carbon capture and storage (CCS) technology and that the EPA overstepped in its rulemaking authority.
Read MoreINTERVIEW: Research group says “CDR optimisation” needs clear distinction between removed, avoided CO2
So-called “CDR optimisation” projects that build on pre-existing practices need to improve accounting techniques to distinguish between removed and avoided emissions in order to ensure integrity in the crediting process, representatives from a California-based research group told Carbon Pulse.
Read MoreWCI Markets: CCAs sell-off ahead of option expiry, Q4 auction shapes WCA direction
California Carbon Allowance (CCA) future prices dropped over the past week as market participants positioned themselves ahead of option expiry, while Washington Carbon Allowances (WCAs) continued their decline heading into the final carbon permit auction of the year.
Read MoreCalifornia power emissions drop YoY in October despite renewables receding, natural gas demand rising
California electricity sector emissions fell year-on-year (YoY) in October even as the share of renewable energy declined and natural gas rose, according to data published Monday by the state’s grid operator.
Read MoreCFTC: Traders bulk holdings in V25s across WCI, RGGI carbon markets
Both emitters and financial players continued to move their holdings in California Carbon Allowances (CCAs) and RGGI Allowances (RGAs) into 2025 at the expense of 2024, delayed data from the US Thanksgiving holiday published Monday by the US Commodity Futures Trading Commission (CFTC) showed.
Read MoreEuropean country donates up to $21 mln to Brazil’s Amazon Fund
Brazil’s national development bank announced Friday that a European nation has donated up to $21.1 million to the Amazon Fund, aiming to help combat deforestation and promote sustainable development.
Read MoreINTERVIEW: US non-profit to launch Ethiopian methane carbon credit project
A North Carolina-based research non-profit is set to launch a carbon credit project in Ethiopia with a US development agency, aiming to expand its approach for reducing enteric methane emissions from small farmers’ livestock in the developing world, representatives of the organisation told Carbon Pulse on the sidelines of COP29.
Read MoreANALYSIS: International carbon markets now “open for business” but patience needed before scale hits
UN-approved international carbon markets are now ready to fully operationalise, following the landmark decision to finalise Article 6 in Baku, but questions over demand, and a robust methodological work programme scheduled for 2025, means it may take years until the planned implementation produces credit transactions at scale.
Read MoreCOP29: Baku closes with frustration over new $300 bln climate finance goal, omission of fossil fuels
Wealthy countries will aim to shore up $300 billion per year of climate finance by 2035, as the core part of a global annual economy-wide target of $1.3 trillion, under a contentious agreement struck early Sunday morning at the close of COP29.
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