Canada sets green procurement standard for federal contracts
Canadian Prime Minister Justin Trudeau’s administration on Tuesday announced that major government suppliers will need to disclose their GHG emissions and implement science-based GHG reduction targets, mimicking a recent proposal south of the border.
Read MorePREVIEW: Uncertainty dominates market ahead of inaugural Washington cap-and-trade auction
Few traders have a firm grasp of where Washington state’s first WCI-modelled carbon market sale will settle on Tuesday, as ambiguity regarding entities’ ability and willingness to bid in the sale juxtaposes against potential support from the small volume on offer and potential future linkage to the California-Quebec programme.
Read MoreEmitters’ WCI, RGGI net long positions unravel amid January expiry, as publication of backlogged data starts
The US Commodity Futures Trading Commission (CFTC) on Friday began publishing delayed Commitments of Traders reports following a cyber attack on the agency’s third-party data provider several weeks ago, showing that compliance entities in the WCI and RGGI markets saw their net long positions unwind as the January contract went to delivery.
Read MoreWCI Markets: CCAs jolted by higher-than-expected Q1 auction results, as traders hone in on first Washington sale
California Carbon Allowance (CCA) prices meandered for much of the week before a higher-than-expected February auction settlement sent values upward, as traders began to examine several factors that could influence the clearing price in next week’s inaugural Washington Carbon Allowance (WCA) sale.
Read MoreWCI Q1 auction clears at highest price in three sales, slightly below secondary market
The February California-Quebec current vintage carbon auction settled at the highest price since last spring and at a slight discount to prevailing secondary market levels, according to government data published Thursday.
Read MoreCalifornia fuel sector emissions continue lagging on lower November sales
Both California gasoline and diesel consumption in November continued to trail year-ago levels, according to state data published Wednesday, suggesting the sector’s carbon market-covered emissions will slightly lag 2021 output.
Read MoreCalifornia discloses timeline to strengthen LCFS, as credit price rally proves short lived
California regulator ARB on Wednesday provided further details on its schedule for beginning a formal rulemaking to amend the Low Carbon Fuel Standard (LCFS), while credit prices plunged from a five-month high as traders digested the impact of the ARB hiking the programme’s carbon intensity (CI) reduction targets.
Read MoreCarbon contracts for difference can help Canada compete with US renewable incentives -report
The Canadian government should offer a carbon contract for differences (CCfD) programme to help level the playing field with the numerous clean energy tax credits provided in the US Inflation Reduction Act (IRA), according to a working paper published Tuesday.
Read MoreWashington state asks court to dismiss power producer’s cap-and-trade lawsuit
The Washington Department of Ecology (ECY) asked a federal court to throw out a lawsuit against the state’s WCI-modelled cap-and-trade programme, arguing a gas-fired power producer’s claims of discrimination under the regulation are fatally flawed.
Read MoreCalifornia signals support for stronger pre-2030 LCFS targets, RNG phase out
California regulator ARB on Tuesday said a near-term step change in the carbon intensity targets of the Low Carbon Fuel Standard (LCFS) may be necessary to ensure price support and drive climate ambition, while it seeks to move forward with phasing out the ability of renewable natural gas (RNG) to generate credits.
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