CDM hits dual milestones ahead of UN carbon offset scheme’s potential conclusion
The UN’s Clean Development Mechanism (CDM) passed two noteworthy milestones this month, as countries prepare to determine whether to wind up the project-based carbon finance programme.
Read MoreCalifornia forestry offset protocol revisions may get bumped to 2020, sources say
California regulator ARB may not begin the process of updating its WCI forestry protocol until next year, as it completes work on various regulatory priorities in the final quarter of 2019, sources told Carbon Pulse.
Read MoreOntario leader broke law in cancelling carbon market, court finds
Ontario Premier Doug Ford violated environmental law when he abruptly cancelled the Canadian jurisdiction’s WCI-linked ETS last summer, a provincial court said in a split ruling on Friday that will not have a material impact on the province’s current climate policy.
Read MoreTax CO2 from largest emitters $75/t by 2030 to avoid 2C temperature rise, says IMF
A global temperature rise of 2 degrees C could be avoided if large emitting countries collectively adopt a carbon tax of $75/tonne by 2030, as well as other ambitious actions, according to a report by the International Monetary Fund.
Read MoreNA Markets: RGGI prices rise after Pennsylvania ETS announcement, California allowances creep lower
RGGI allowance (RGA) prices rose by double digits this week after Pennsylvania announced plans to design an ETS compatible with the Northeast US carbon market, while California Carbon Allowances (CCAs) continued to decline on the secondary market.
Read MoreOntario slow to implement climate plan -report
Ontario’s Progressive Conservative government has dithered on rolling out the climate plan it unveiled nearly a year ago, with weaker industry carbon pricing standards and no progress on an emission reduction fund underscoring those delayed efforts, according to a report published Thursday.
Read MoreSmells like clean spirit: Washington’s Puget Sound releases ambitious draft LCFS rule
Washington state’s Puget Sound Clean Air Agency (PSCAA) published a draft low-carbon fuel standard (LCFS) regulation on Wednesday, with the four-county region proposing the most ambitious carbon intensity (CI) reductions of any North American clean fuels programme.
Read MoreWCI carbon floor price holding for 2020, but could drop further
Static year-on-year inflation kept the WCI cap-and-trade programme’s price floor on track for $16.67 next year, but a direct comparison with the Oct. 2018 rate suggests the price could slide further, according to US federal data released Thursday.
Read MoreShell expands carbon neutral driving offer to UK with land offsets
Oil major Shell will offer British drivers the chance to offset their carbon footprint, it said on Thursday, expanding from its Dutch initiative as part of a global commitment to invest $300 million in land-based emissions-curbing initiatives.
Read MoreJudge to consider competing PG&E bankruptcy proposal
A US federal judge threw out California utility Pacific Gas & Electric’s bankruptcy exclusivity claims on Wednesday and will allow bondholders and wildfire victims to submit a competing reorganisation plan.
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