Speculators’ CCA net length hits 12-mth high, producers keep steady in WCI and RGGI
Financial players this week saw their California Carbon Allowance (CCA) net long position reach the highest since last March, while compliance entities modestly added to their holdings across North American carbon markets, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreUS Carbon Markets and LCFS Roundup for week ending March 31, 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 North Carolina House budget language to block a RGGI-modelled cap-and-trade regulation and the advancement of a carbon offset bill in Washington state.
Read MoreAnother US court suspends EPA denial of RFS compliance relief, pending review
A US federal court on Thursday issued a stay on the EPA’s move to reject small refiners’ request for compliance relief under the Renewable Fuel Standard (RFS), building on several other moves by appellate judges this year.
Read MoreCORRECTION – California carbon market registration backlog nearly quadruples over past six months
The number of entities awaiting approval by California regulator ARB to take delivery of allowances or offsets in the state’s cap-and-trade programme jumped further in Q1, according to Carbon Pulse analysis of state data, with the few new participants coming from financial players.
Read MoreWCI Markets: CCAs tick up as macro correlation holds, WCAs head towards $60
California Carbon Allowance (CCA) prices rose in tandem with a more supportive macroeconomic environment this week as recent volatility calmed, while Washington Carbon Allowance (WCA) values set new record highs as compliance entities were heard buying.
Read MoreUPDATE – California-registered offset project likely set for termination after wildfire-induced carbon losses
An Oregon-based forestry offset project registered under California’s cap-and-trade programme will be cancelled after a wildfire caused a significant reversal in carbon stocks, according to a verifier report.
Read MoreICAO Council greenlights two offset programmes for next CORSIA phase, sets vintage range
Two existing CORSIA programmes have received re-eligibility from the ICAO Council to supply carbon credits under the next phase of the global aviation offset scheme, as the UN body also advanced the vintage range for units during this period, according to a recent decision.
Read MoreCanada budget proposes carbon contracts for difference, new clean energy tax credits
Canadian Prime Minister Justin Trudeau’s 2023 budget released Tuesday said it will consult on a carbon contracts for difference (CCfD) programme to de-risk private sector investments in GHG mitigation projects, as well as launch new investment tax credits or expand existing ones related to clean energy and carbon capture.
Read MoreWashington approves two registries to issue offsets for cap-and-trade compliance
Washington will accept offsets issued from two US-based carbon registries under the state’s WCI-modelled cap-and-trade system, the state’s environmental agency announced Monday, though it is unclear when compliance-eligible credit generation may commence.
Read MoreUS Carbon Markets and LCFS Roundup for week ending Mar. 24, 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 the failure of several state low-carbon fuel standard (LCFS) bills and a discussion of how California’s programme might be negatively influencing these proposals.
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