California LCFS Q4 net credit generation recedes, but bank grows past 15 mln
Q4 net credit generation in California’s Low Carbon Fuel Standard (LCFS) slightly backed off from recent highs, though substantial volumes of renewable diesel (RD) and electricity outweighed declines in biodiesel and ethanol to push the surplus bank to another all-time high, according to government data published Friday.
Read MoreVerra to streamline offset project review process with faster denials, support climate action in Zambia
Standards body Verra on Friday said it is implementing a new carbon credit project review process that will shorten evaluation requests, while the organisation separately announced an agreement to help foster climate action in Zambia.
Read MoreVerra to assist Panama with launching national carbon market
Panama’s environment ministry (MiAMBIENTE) and offset standards body Verra have signed a memorandum of understanding (MoU) to help develop a national voluntary carbon market in the Central American country, according to an announcement on Thursday.
Read MoreWashington conducting emergency rulemaking on carbon market allowance reserve language
The Washington Department on Ecology (ECY) announced Wednesday it is conducting an emergency rulemaking on the Allowance Price Containment Reserve (APCR) ahead of the Q2 cap-and-trade auction, as Washington Carbon Allowances (WCAs) on the secondary market continue to trade above the mechanism’s Tier 2 trigger price.
Read MoreCalifornia offset issuances inch higher, but still lag well behind 2022 totals
California Carbon Offset (CCO) issuances climbed for the second period in a row, though year-to-date levels continue to trail the same period in 2022, according to state data published Wednesday.
Read MoreColombian government pursuing offset regulations to evaluate additionality, safeguards
The Colombian environment ministry is developing new regulations covering additionality requirements, standards bodies, and community involvement for offsets under the country’s carbon tax, but the first draft of the rules has not been written after nearly a year of preliminary meetings, experts told Carbon Pulse.
Read MoreWashington outlines free allowance distribution for electric utilities through 2026
The Washington Department of Ecology (ECY) on Monday said it will distribute over 40 million free allowances to electrical utilities between 2023 and 2025 to mitigate the compliance cost exposure from the cap-and-trade system, while final allowance totals are still to be determined for 2026.
Read MoreUS Carbon Markets and LCFS Roundup for week ending Apr. 21, 2023
A summary of legislative, regulatory, and policy action on carbon, clean fuel standard, and clean energy markets at the US federal and subnational levels this week, including the advancement of several climate bills in the California Senate, a court decision on a Maine hydroelectricity line, Vermont’s Affordable Heat Act passing the House, and a carbon offsets bill in Texas.
Read MoreUS recommends $562 mln from Infrastructure Law for climate resilience
The US Department of Commerce is recommending $562 million from the Bipartisan Infrastructure Law be used to fund climate resilience projects across 30 states, Vice President Kamala Harris announced on Friday.
Read MoreUS climate NGO commits nearly $10 mln to Brazilian Indigenous carbon market training
A major US climate change-focused charity announced Thursday it is earmarking almost $10 mln for Indigenous associations in Brazil to ensure those communities benefit from carbon market investments generated from the Amazon rainforest.
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