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California’s IEMAC pushes back timeline on 2020 carbon market recommendations

Published 21:28 on October 28, 2020  /  Last updated at 21:28 on October 28, 2020  /  Americas, Canada, US  /  No Comments

A California watchdog report to provide suggestions on improving the state’s WCI-linked cap-and-trade programme will be delayed, with no immediate timeline available for a revised publication, an official told Carbon Pulse.

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California issues 2.3 mln new carbon credits, marking fourth straight period above 1 mln

Published 20:49 on October 28, 2020  /  Last updated at 21:19 on October 28, 2020  /  Americas, Canada, US, Voluntary Market  /  No Comments

California granted more than 2.3 mln carbon offsets over the past two weeks, with an Alaska-based project accounting for the largest amount of the new credits, according to data from state regulator ARB published Wednesday.

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Brazilian biofuel credit prices, volumes spike in October

Published 20:49 on October 27, 2020  /  Last updated at 20:49 on October 27, 2020  /  Americas, RINs & LCFS, South & Central  /  No Comments

Brazilian carbon credit prices and transactions surged over the past month as fuel distributors look to comply with the country’s RenovaBio programme after its 2020 biofuel quotas were finalised in September.

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Utah lawsuit funding to challenge California’s climate policies stalls in legislature

Published 16:51 on October 27, 2020  /  Last updated at 16:51 on October 27, 2020  /  Americas, Canada, US  /  No Comments

The Utah legislature is unlikely to restore funding this year to challenge California’s cap-and-trade programme and emissions performance standards (EPS) due to budget constraints, though the issue may return next year, a state lawmaker told Carbon Pulse.

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COVID restrictions to save 2.5 years of emissions on faster clean energy shift -analysts

Published 12:37 on October 27, 2020  /  Last updated at 12:37 on October 27, 2020  /  Americas, Asia Pacific, EMEA, International  /  No Comments

The energy demand drop due to the coronavirus pandemic will remove some 2.5 years’ worth of global energy emissions through 2050, according to researchers, who nonetheless say that the world is still heading for 3.3C of global warming.

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BP to purchase voluntary carbon offsets from new Wisconsin forestry project

Published 20:54 on October 26, 2020  /  Last updated at 20:54 on October 26, 2020  /  Americas, US, Voluntary Market  /  No Comments

Oil major BP has agreed to buy carbon credits from a new forestry project in northern Wisconsin, adding to the company’s growing procurements of voluntary market offsets from US-based initiatives.

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Virginia will proceed with RGGI linkage as lawsuit churns in the courts

Published 19:06 on October 26, 2020  /  Last updated at 23:20 on October 26, 2020  /  Americas, US  /  No Comments

A lawsuit challenging Virginia’s cap-and-trade regulation is not expected to disrupt the state’s entrance into the Northeast US RGGI carbon market next year, according to regulatory and government sources.

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Brussels should not rush to design “tricky” carbon border measures -former EU trade boss

Published 19:00 on October 26, 2020  /  Last updated at 23:32 on October 26, 2020  /  Americas, Carbon Taxes, CBAM, EMEA, EU ETS, US  /  No Comments

The EU must be fully transparent when designing a carbon border adjustment mechanism (CBAM) and should join forces with other nations or it risks distancing itself from trade partners, a former EU trade commissioner said on Monday.

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Financial entities, emitters’ California carbon positions stagnate as prices hit 7-mth high

Published 22:16 on October 23, 2020  /  Last updated at 22:16 on October 23, 2020  /  Americas, Canada, US  /  No Comments

Speculators and compliance entities held their California Carbon Allowance (CCA) length mostly firm over the past week as neither side dramatically altered their positions, US Commodity Futures Trading Commission (CFTC) data showed Friday.

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Traders foresee limited near-term California LCFS price impacts from US election result

Published 22:06 on October 23, 2020  /  Last updated at 22:06 on October 23, 2020  /  Americas, RINs & LCFS, US  /  No Comments

Market participants do not anticipate California Low Carbon Fuel Standard (LCFS) credit prices to immediately react once the results of next month’s US presidential election are known, although a win by Democratic nominee Joe Biden coupled with other factors could have bearish implications in the long term.

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