RGGI Market: Virginia county circuit court judge rules RGGI repeal unlawful, RGAs soar 10%
A Virginia county circuit court judge ruled the state’s withdrawal from the RGGI carbon market to be unlawful, siding with a trade group that challenged last year’s programme exit, sending RGGI Allowances (RGAs) in the secondary market rocketing higher by as much as 10.3% on the day.
Read MorePREVIEW: ARB’s ETS rulemaking delays recast WCI Q4 auction sentiment lower, outsized ACP positions skew expectations
A larger cross-section of traders polled expect the last quarterly California-Quebec current vintage carbon allowance auction for 2024 to clear discounted to front-month California Carbon Allowance (CCA) prices after market sentiment soured with ARB delaying cap-and-trade regulatory updates, but unusual Auction Clearing Price (ACP) futures open interest (OI) could skew the outcome.
Read MoreCalifornia natural gas emissions spike in 2023 under cap-and-trade programme
Emissions from gas supplied rose year-on-year in 2023, even as overall GHG output under the California cap-and-trade programme continued a declining trend led by transportation, power, and industry sectors, according to data from the regulator.
Read MoreWCI Markets: CCA sentiment sours ahead of Q4 auction
California Carbon Allowances (CCA) futures sold off sharply through the week ahead of the last quarterly allowance sale – with traders concerned over the lack of movement on the regulatory front from ARB – diverting attention away from the increase in Washington Carbon Allowance (WCA) prices.
Read MoreARB’s latest two-week offset outlay offers under 10% of DEBs
California regulator ARB’s latest issuance of compliance-eligible offsets was the smallest since the end of June with slim pickings of this distribution having direct environmental benefits (DEBs) to the state, agency data released Wednesday showed.
Read MoreCanadian carbon project developer sells 10k offsets to RBC, Microsoft
A Montreal-based carbon removal project developer announced on Wednesday the sale of 10,000 CO2 removal (CDR) credits to its first buyers.
Read MoreCanada plans to tax the small business carbon tax rebate overdue for five years
The federal government plans to tax the carbon tax rebate still owed to small businesses five years into Canada’s federal carbon levy, a non-profit said Tuesday.
Read MoreCOP29: Canada unveils climate finance platform for vulnerable regions
Canada’s environment minister announced on Tuesday a new finance platform to mobilise climate-focused investments in vulnerable regions at the UN conference in Baku.
Read MoreRGGI Market: RGAs briefly recapture $24 through US election week, revert lower
RGGI Allowances (RGA) rallied briefly back above $24 post US election results last week, but gave back some gains as market focus returns to clarity on proposed programme changes.
Read MoreBRIEFING: ARB members green light California’s LCFS programme amendments
Members of California’s ARB approved the Low Carbon Fuel Standard (LCFS) programme changes on Friday after hearing hours of public testimony, followed by several hours of debate, and a failed motion that sought to tighten provisions for avoided methane crediting.
Read More