US Carbon Markets and LCFS Roundup for week ending Apr. 28, 2023
A summary of legislative, regulatory, and policy action on carbon, clean fuel standard, and clean energy markets at the US federal and subnational levels this week, including New York incorporating cap-and-trade in its “conceptual agreement” on the budget, the rescheduling of a hearing for a bill to strengthen California’s 2030 GHG target, and the Texas House of Representatives passing a carbon offsets bill.
Read MoreUS states request stronger federal guidance on VER additionality, carbon neutral claims
Over a dozen Democrat-led US states this week asked the US Federal Trade Commission (FTC) to shore up language regarding the environmental integrity of voluntary offsets and carbon neutrality claims in order to prevent greenwashing.
Read MoreCanada-based VER investor sees COO resign amid restructuring agreement
A Toronto-headquartered voluntary carbon financier on Thursday announced it has executed a restructuring agreement that will consolidate the ownership structure of its developer arm and see the firm’s COO resign.
Read MoreLCFS Market: California prices leave behind recent highs as traders ready for Q4 data release
California Low Carbon Fuel Standard (LCFS) credit values dropped from a six-month peak this week as a recent financial-led rally petered out and market participants prepared for another steep quarterly credit generation figure.
Read MoreLEAF Coalition selects two South American proposals for jurisdictional REDD credits
The public-private LEAF Coalition on Wednesday announced it has approved two jurisdictions in South America to supply REDD credits issued from a global offset standard, as it unveiled the next call for governments to submit proposals.
Read MoreUPDATE – California cap-and-trade review bill passes first legislative committee
A California Assembly committee on Monday sent along legislation that would direct the state government to evaluate certain areas of the state’s WCI-linked cap-and-trade regulation and mandate that any resulting reforms take effect by 2025.
Read MoreUS could require 2 bln tonnes of annual carbon capture to hit 2050 climate goal
The US may need to capture and store nearly 2 billion tonnes of CO2 per year in order to hit the country’s mid-century net zero emissions target, according to a government report published Monday.
Read MoreCalifornia transportation fuel consumption inches up in January
California gasoline sales increased year-on-year in January amid lower retail prices, while diesel consumption slid, according to state data published Monday.
Read MoreChile issues resolution to exempt renewables from carbon tax
The Chilean government this week published a resolution that will prevent renewable electricity providers from having to pay into the country’s $5/tonne carbon tax which subsidised fossil fuel-fired generation.
Read MoreCanada hikes social cost of carbon to C$261/tonne, on par with US proposal -report
The Canadian government has significantly ratcheted up the social cost of carbon (SCC) used to calculate climate damages to levels in line with a US EPA proposal last year, according to a federal minister and media report.
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