RGGI Market: RGAs shrug off New Jersey clean power goal, while Chinese oil major opens account
RGGI Allowance (RGA) price volatility evaporated this week as market participants dismissed the near-term impacts of New Jersey accelerating its 100% clean electricity target, while a state-owned Chinese oil company opened a speculative account in the power sector carbon market.
Read MoreICE to launch three Washington state carbon allowance futures contracts in March
Exchange operator ICE on Friday announced it will list three Washington Carbon Allowance (WCA) futures contracts for trading in March, coming several months into the operation of the WCI-modelled cap-and-trade system.
Read MoreClimate financier Aspiration invests $21 mln in Kenyan agroforestry VER project
US-based climate finance company Aspiration on Wednesday announced it has partnered with a non-profit organisation to generate millions of carbon credits from sustainable agroforestry practices in Kenya.
Read MoreNew Brunswick to ditch provincial carbon levy, adopt federal ‘backstop’ charge
New Brunswick Premier Blaine Higgs on Thursday announced the province will halt implementation of its rising CO2 tax on fossil fuels and instead opt for the federal government’s revenue-neutral fee, a change made to align the jurisdiction with the rest of Atlantic Canada.
Read MoreBritish Columbia releases revised draft forest offset protocol after stakeholder pushback
The British Columbia Ministry of Environment and Climate Change Strategy (MECCS) on Thursday posted a new draft version of the province’s forest carbon offset protocol (FCOP), which incorporates feedback from the previous iteration that saw stakeholders blast its economic viability.
Read MoreICE posts record North American environmental markets volume in 2022 on strength of RECs, LCFS credits
Exchange operator ICE on Thursday announced record volume and participation in North American environmental markets last year, led by the company’s suite of Renewable Energy Certificates (RECs) and California Low Carbon Fuel Standard (LCFS) futures.
Read MoreUPDATE – US start-up raises $4 mln for fungal-based carbon removal credits
A Texas-headquartered company on Wednesday announced it has gained $4 million in seed funding to scale up carbon removals from belowground fungal biodiversity restoration to the tune of 3 billion tonnes by 2050.
Read MoreLCFS Market: California prices tick up from 5.5-year low ahead of rulemaking workshop
California Low Carbon Fuel Standard (LCFS) values increased slightly from 5.5-year lows this week as traders pointed to a forthcoming workshop that may provide more details on ratcheting up the transportation sector programme’s environmental ambition.
Read MoreRFS Market: RIN prices bounce back as refiners buy dip
US biofuel credit (RIN) prices rebounded from two-month lows after the past week, which traders attributed to refiners stepping back in after selling down the market.
Read MoreRGGI emitters ramp up holdings in Q4, shrinking compliance shortfall
Power generators boosted their holdings of RGGI Allowances (RGAs) in between the December auction and year-end in the lead up to the power sector carbon market’s interim compliance deadline, according to a report published Tuesday.
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