LCFS Market: California prices lift up to 8% after state reveals plans to strengthen regulation
California Low Carbon Fuel Standard (LCFS) credit values jumped on Monday morning after state regulator ARB published its plans to strengthen the environmental performance of the transportation sector climate programme, though some market participants are unsure about how bullish the proposed changes really are.
Read MoreLCFS Market: California prices wane to 6-wk low before state reveals more ambitious CI benchmarks
California Low Carbon Fuel Standard (LCFS) values slid on Friday to levels not seen since late July as market participants reported compliance entities were keen to sit back, though they spiked late in the day after the state published a document detailing its forthcoming rulemaking to strengthen the programme’s carbon intensity (CI) benchmarks.
Read MoreBrazil’s Goias state to use carbon market to hit 2050 CO2 neutrality
The central Brazilian state of Goias on Wednesday announced it will soon unveil a plan to zero out its GHG emissions by mid-century, in part through a jurisdictional REDD+ crediting system.
Read MorePanama clarifies reforestation projects can participate in global voluntary carbon markets
The Panama environment ministry on Wednesday released a statement noting that private reforestation projects are eligible to sell offsets into the voluntary carbon market (VCM), so long as they meet requirements under the country’s climate policies.
Read MorePREVIEW: Traders foresee stronger Q3 RGGI auction settlement, but remain divided on discount
Market participants believe the September RGGI auction clearing price will jump compared to recent sales and may even flirt with an all-time high, though uncertainty remains as to whether the sale will come in at a slim or moderate discount to the secondary market allowance price.
Read MoreCalifornia legislative committee advances GHG disclosure, climate risk bills to final stage
A California Assembly committee on Friday endorsed a pair of bills that would require Scope 1-3 emissions reporting and climate-related financial risk disclosures from companies, sending the proposals to await a final floor vote.
Read MoreCalifornia legislature passes bill to clarify state funding for offset projects, as climate disclosure proposal faces business lobby pushback
The California Senate on Thursday approved legislation to clarify the eligibility of state-funded projects to generate carbon offsets, while a large business lobby ramped up its opposition to a bill that would mandate Scope 1-3 GHG reporting requirements within the state.
Read MoreOregon proposes different method for distributing compliance instruments under climate programme
The Oregon Department of Environmental Quality (DEQ) on Wednesday proposed amendments to its market-based Climate Protection Program (CPP) that would overhaul the methodology used to distribute compliance instruments to fuel suppliers, as well as calculate holding limit reductions.
Read MoreCalifornia compliance offset issuance stays nearly 30% above 2022 levels through August
The number of California Carbon Offsets (CCOs) distributed this week fell compared to earlier this month, but still remained well above year-ago levels through the first two-thirds of 2023, according to state data published Wednesday.
Read MoreRGGI compliance entities boost allowance holdings after Q2 auction
Emitters in the power sector RGGI carbon market added to their allowance positions in the time between the June auction and end of the second quarter, while traded volumes overall declined during the spring period, according to a report published Tuesday.
Read More