UPDATE – RGGI Market: Q2 allowance sale settles sub-$20, along market expectations

Published 15:36 on June 6, 2025 / Last updated at 22:22 on June 6, 2025 / and / Americas, US

The second RGGI cap-and-trade auction of 2025 settled in line with RGGI Allowances (RGAs) in the secondary market the day before the sale, and below $20 as many market participants had expected.

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WCI Markets: CCAs subdued amidst subsurface churn

Published 00:04 on June 6, 2025 / Last updated at 00:04 on June 6, 2025 / and / Americas, Canada, US

California Carbon Allowances (CCA) held steady despite heavy futures and options volumes as the market awaits resolution of federal and regulatory risks, while Washington Carbon Allowance (WCA) prices declined into the Q2 auction.

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Large hedge fund parts ways with North American environmental products head

Published 22:23 on June 5, 2025 / Last updated at 22:23 on June 5, 2025 / / Americas, Bavardage, Canada, RINs & LCFS, US

The North American head of an environmental trading desk with a US-headquartered multinational hedge fund has left the firm, Carbon Pulse has learned.

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US Transportation department puts California’s high-speed rail on notice of potential loss of $4 bln federal funding

Published 22:07 on June 4, 2025 / Last updated at 22:29 on June 4, 2025 / / Americas, Canada, US

The US Department of Transportation (DOT) released a report Wednesday finding California’s high-speed rail project to be in default of the terms of two federal grants totalling roughly $4 billion.

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PREVIEW: Traders expect settlement around front-month futures, analysts foresee reserve release at Q2 Washington auction

Published 00:46 on June 4, 2025 / Last updated at 00:56 on June 4, 2025 / and / Americas, US

Traders said they expected the Q2 sale on Wednesday to clear within a $1-2 range of front-month Washington Carbon Allowances (WCAs), while most analysts projected the potential for a higher settle that would release reserve volumes.

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PREVIEW: Federal risks, programme fundamentals shape RGGI Q2 auction outlook

Published 00:17 on June 4, 2025 / Last updated at 00:17 on June 4, 2025 / and / Americas, US

A majority of the traders expected the Q2 RGGI carbon permit auction on Wednesday to clear close to secondary market levels, with few anticipating a discount, as observers considered a mix of federal threats, regulatory delays, and programme fundamentals that could shape the outcome.

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White House budgetary office proposes over 50% in budget cuts to EPA for 2026

Published 23:53 on June 2, 2025 / Last updated at 23:58 on June 2, 2025 / / Americas, US, Voluntary

The White House released supplementary details of plans to slash spending in 2026 as the US Senate debates the fiscal year 2025 budget reconciliation package.

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California infrastructure coalition outlines priorities as tussle for cap-and-trade revenues heats up

Published 14:56 on June 1, 2025 / Last updated at 14:56 on June 1, 2025 / / Americas, Canada, US

A recently formed coalition of California infrastructure businesses and labour union groups laid out their funding priorities from cap-and-trade auction revenues as lawmakers work on programme re-authorisation.

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CFTC: Investors cautiously reduce exposure in V25 CCA, RGGI, LCFS as futures prices weaken

Published 01:29 on May 31, 2025 / Last updated at 01:29 on May 31, 2025 / and / Americas, Canada, RINs & LCFS, US

Investors pared down net length in V25 California Carbon Allowances (CCAs) to November levels in wake of tempered expectations for the Q2 auction, while closing out their RGGI Allowance (RGA) and Low Carbon Fuel Standard (LCFS) long holdings in the face of regulatory uncertainty, according to US Commodity Trading Futures Commission’s (CFTC) data published Friday.

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WCI Markets: First undersubscribed auction in nearly 5 years hits the floor in Q2

Published 20:58 on May 29, 2025 / Last updated at 00:21 on May 30, 2025 / and / Americas, Canada, US

The Q2 California-Quebec current vintage carbon auction settled at the floor price in line with secondary market prices and tempered market expectations, as California Carbon Allowance (CCA) futures have weakened through May in the face of unresolved federal risks and prolonged reauthorisation negotiations with state lawmakers.

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