CFTC: Specs trim carbon risk amid early year macro weakness
Producers added length while speculators took a step back from California Carbon Allowance (CCA), RGGI Allowance (RGA) holdings, while both groups made significant reductions to their Low Carbon Fuel Standard (LCFS) net length into start of year macro market weakness, according to delayed data released Monday from the US Commodity Futures Trading Commission (CFTC).
Read MoreNew US alumina production nabs $8.7 mln federal funds to reduce CO2 process emissions
A California-based company specialising in industrial materials has received nearly $8.7 mln from a federal cost share award towards set up of a commercial demonstration plant to reduce the carbon footprint of the aluminium production process.
Read MoreWCI Markets: Rocky start to the year for CCAs
Traders scrambled for reasons to explain the start of year weakness in California Carbon Allowances (CCA) as macro risk-off sentiment spread across broader markets.
Read MoreBusiness group challenges EPA approval of California’s stricter emission standards
A US business lobby group this week sued the US EPA over two waivers recently granted to California, one of which allows the state to adopt a set of regulations that would ban the sale of new gasoline vehicles by 2035.
Read MoreUS EPA hands out additional pollution waivers to California ahead of administration change
The US EPA on Monday issued final notices for its decision to grant California waivers from federal pollution regulations, allowing the state to enforce stricter emission standards under the Clean Air Act (CAA) before President-elect Donald Trump assumes office later this month.
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