Canadian PM Trudeau resigns amid carbon policy disputes, US tariff threats
Prime Minister Justin Trudeau announced on Monday his resignation from leading the Liberal Party of Canada, kicking off a process through which he will be replaced as prime minister, citing internal party battles and the need for a new leader ahead of an upcoming election.
Read MoreUS Treasury finalises hydrogen production tax credit rules
The US Department of Treasury (DOT) and the Internal Revenue Service (IRS) released on Friday final federal guidance on eligibility for income tax credits in the production of hydrogen established by the Inflation Reduction Act (IRA).
Read MoreWCI Markets: CCA, WCA activity thins through holidays
Secondary market California Carbon Allowances (CCA) and Washington Carbon Allowances (WCA) futures and options transaction volumes declined over the Christmas and New Year holidays, with traders expecting activity to pick up early next week.
Read MoreWCI Markets: Battle into year-end drives CCA volatility, WCAs stagnate
A battle for year-end positions in a thinning market heading into Christmas holidays pushed around California Carbon Allowances (CCA) futures through option expiry earlier in the week, while traders mostly expect Washington Carbon Allowances (WCA) to stagnate until the start of 2025.
Read MoreUPDATE – US pledges new 2035 emissions reduction NDC target
The White House released plans Thursday to reduce economy-wide emissions 61-66% by 2035 as part of its updated nationally determined contribution (NDC), in accordance with the Paris Agreement.
Read MoreUS DOE estimates LNG exports raising global emissions 0.05% over 30 years
US DOE released a highly anticipated study listing potential environment and community effects of its LNG exports estimated at increasing global emissions by 0.05% from 2020-50, without an explicit recommendation to extend the temporary pause of pending and future project approvals.
Read MoreRatings agency integrates safeguards scoring in voluntary carbon project risk assessments
A voluntary carbon market (VCM) ratings agency has introduced environment and social safeguards as part of a project’s risk assessment criteria, it announced Tuesday.
Read MoreRGGI Market: RGAs “squeezed” higher above $23
RGGI Allowances (RGA) in the secondary market continued to rebound from a weak Q4 auction over the week, with traders deliberating reasons behind unexpected strength into year end.
Read MoreUPDATE – Canadian finance, deputy PM resigns in sudden move before annual fiscal update
Chrystia Freeland, Canadian finance and deputy prime minister, resigned from her cabinet post on Monday just hours before tabling of the national fall fiscal update, citing differences with Prime Minister Justin Trudeau about the best path forward for the country as reasons for her departure.
Read MoreCFTC: Traders continue to shift focus to 2025 for CCA, RGGI
Traders closed out V24 open interest (OI) in favour of V25 California Carbon Allowance (CCA) and RGGI Allowance (RGA) holdings, while reducing Washington Carbon Allowance (WCA) OI ahead of results from a stunning Q4 permit sale, according to data released Friday from the US Commodity Futures Trading Commission (CFTC).
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