LCFS Market: California prices retreat amid drop in fuel demand, expectations for large credit build

Published 19:11 on January 18, 2023  /  Last updated at 19:11 on January 18, 2023  / /  Americas, RINs & LCFS, US

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 More

US carbon removals developer raises $21 mln to hasten tree planting efforts

Published 23:19 on January 17, 2023  /  Last updated at 23:19 on January 17, 2023  / /  Americas, Nature-based, US, Voluntary

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 More

ART programme lists Ethiopia REDD+ concept, approves Guyana monitoring period

Published 23:49 on January 13, 2023  /  Last updated at 23:49 on January 13, 2023  / /  Africa, Americas, EMEA, International, Nature-based, South & Central, Voluntary

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 More

US Carbon Markets and LCFS Roundup for week ending January 13, 2023

Published 20:44 on January 13, 2023  /  Last updated at 20:44 on January 13, 2023  / /  Americas, Nature-based, RINs & LCFS, US, Voluntary

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 More

Ocean-based CO2 removal firm secures $12 mln from Norwegian, Saudi oil majors

Published 19:05 on January 13, 2023  /  Last updated at 19:05 on January 13, 2023  / /  Americas, US, Voluntary

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 More

Climate solutions platform Chooose nets $15 mln from Temasek, Ashton Kutcher-affiliated firm

Published 16:25 on January 13, 2023  /  Last updated at 16:25 on January 13, 2023  / /  EMEA, Voluntary

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 More

ICE to alter delivery method for California, nature-based carbon contracts

Published 22:14 on January 12, 2023  /  Last updated at 22:30 on January 12, 2023  / /  Americas, Canada, Nature-based, US, Voluntary

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 More

Virginia to open RGGI repeal proposal to public comment this month

Published 21:07 on January 12, 2023  /  Last updated at 21:07 on January 12, 2023  / /  Americas, US

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 More

Voluntary retirements of California compliance offsets spike by a third, as new issuances tick up

Published 00:13 on January 12, 2023  /  Last updated at 00:13 on January 12, 2023  / /  Americas, Canada, Nature-based, US, Voluntary

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 More

California carbon market watchdog recommends tightening allowance supply, studying no-trade zones

Published 21:19 on January 11, 2023  /  Last updated at 21:19 on January 11, 2023  / /  Americas, Canada, US

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.

Read More