US pledges $1.5 bln investment in climate funds, global cooperation on non-CO2 pollutants
US President Joe Biden on Thursday promised a total of $1.5 billion to two international climate funds, along with accelerated global action to address emissions of methane and hydrofluorocarbons (HFCs).
Read MoreCalifornia LCFS bill to restrict dairy digester crediting passes first committee
A California bill that would impose limits on the ability of dairy digester biogas projects to generate Low Carbon Fuel Standard (LCFS) credits received approval by a Senate committee on Wednesday, but drew pushback from Republicans and the renewable natural gas industry.
Read MoreRGGI Market: RGAs dither as programme review yields near-term uncertainty, long-term opportunity
RGGI Allowance (RGA) values remained rangebound over the course of the week, leaving traders to speculate on a potential catalyst from the power sector cap-and-trade system’s programme review and New York’s upcoming economy-wide carbon pricing system.
Read MoreCompliance entities pare back CCA net length, speculators hold steady across markets
Regulated entities trimmed their net length in California Carbon Allowances (CCAs) while building slightly in RGGI, as speculators did not significantly alter their positions across the two North American cap-and-trade systems, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreWCI Markets: California carbon heads higher, but WCAs lead as $70 approaches
California Carbon Allowance (CCA) prices climbed this week as traders pointed to a continued supportive macro environment and options activity, as well as the influence of surging Washington Carbon Allowance (WCA) values that stepped past the new scheme’s second reserve price trigger.
Read MoreRGGI states increase allowance volume for Q2 sale
Auction volumes offered at RGGI’s Q2 auction will increase slightly after dropping for the previous two quarters, the power sector cap-and-trade scheme’s notice showed Tuesday.
Read MoreAlberta TIER credit price heads down towards national excess emissions charge
The Alberta Technology Innovation and Emissions Reduction (TIER) carbon credit price fell over the January to March period after trading well above Canada’s ‘backstop’ excess emissions charge, with one investor purchasing units amid the dip in value, according to a data analysis firm.
Read MoreSpeculators and emitters significantly lengthen CCA holdings, compliance shortens in RGGI
Financial players continued to widen their California Carbon Allowance (CCA) net long position this week to reach the highest level since early last year, while compliance entities slashed their net short position in the WCI market and net long in RGGI as the March contract expired, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreWCI Markets: CCAs meander on macro fluctuations, WCAs spike again
California Carbon Allowance (CCA) prices fell following an up and down week driven by macroeconomic sentiment, while Washington Carbon Allowance (WCA) values continued to set new record highs due to limited supply.
Read MoreWCI Q1 surplus expands on offset issuances, as allowance glut dwindles
The WCI compliance instrument surplus bank expanded only slightly in the first quarter as offset issuances outweighed allowance retirements, according to programme data published Wednesday.
Read More