LCFS Market: California prices retreat amid drop in fuel demand, expectations for large credit build
California Low Carbon Fuel Standard (LCFS) credit values this week continued to sink towards 5.5-year lows as traders pointed to depressed short-term fuel consumption, strong credit generation expectations for the third quarter, and uncertainty regarding the programme’s revised 2030 climate target.
Read MoreUS carbon removals developer raises $21 mln to hasten tree planting efforts
A US-based climate biotech company on Tuesday announced it has completed a fundraising round that will accelerate the deployment of some 4 million photosynthesis-enhanced tree seedlings, with the firm’s CEO seeing a need for carbon removals-focused registries as its technological innovations continue.
Read MoreART programme lists Ethiopia REDD+ concept, approves Guyana monitoring period
The Architecture for REDD+ Transactions (ART) Program on late Friday afternoon announced it has approved a listing for Ethiopia under The REDD+ Environmental Excellency Standard (TREES), as well as a monitoring report for Guyana’s emissions reductions achieved in 2021.
Read MoreUS Carbon Markets and LCFS Roundup for week ending January 13, 2023
A summary of legislative, regulatory, and policy action on carbon and low-carbon fuel standard markets at the US federal and subnational levels this week, including a carbon offset and CCUS management proposal in Alaska, GHG reduction goal legislation in Colorado, and a constitutional amendment package for regulations in Pennsylvania.
Read MoreOcean-based CO2 removal firm secures $12 mln from Norwegian, Saudi oil majors
A California-based carbon removal company on Thursday announced it has raised $12 mln to accelerate its technology to sequester atmospheric CO2 directly from ocean water, for which tech giants have recently committed to pay nearly $1,000/tonne.
Read MoreClimate solutions platform Chooose nets $15 mln from Temasek, Ashton Kutcher-affiliated firm
Norway-based Chooose on Friday announced a $15 mln capital raise from several venture capital firms to expand its climate tech platform that provides access to carbon offsets, removals, and sustainable aviation fuels.
Read MoreICE to alter delivery method for California, nature-based carbon contracts
Exchange operator ICE in the coming months will change the delivery method for its California and nature-based carbon futures contracts, aligning its procedures with its Europe-based environmental products.
Read MoreVirginia to open RGGI repeal proposal to public comment this month
Virginia Governor Glenn Youngkin’s (R) administration on Wednesday said it will move to public comment this month its proposal to rescind the state’s RGGI-linked cap-and-trade regulation at the end of the year.
Read MoreVoluntary retirements of California compliance offsets spike by a third, as new issuances tick up
California regulator ARB began the year by issuing more compliance offsets than during the final two weeks of 2022, while entities voluntarily retired a large batch of credits over the previous three months, state data published Wednesday showed.
Read MoreCalifornia carbon market watchdog recommends tightening allowance supply, studying no-trade zones
California should consider numerous changes to its cap-and-trade programme that would ratchet down annual allowance supply to hit the state’s GHG reduction targets, and also study how no-trading zones could benefit air quality in disadvantaged communities, according to a watchdog report published Tuesday.
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