WCI speculative length hits new highs as compliance sinks further into the red
Speculators’ California Carbon Allowance (CCA) positions sailed higher this week, with financial firms taking additional length on future vintage allowances, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreNA Markets: California carbon eclipses all-time high on heels of more speculative buying
California Carbon Allowance (CCA) prices soared to a new all-time high on Friday morning, with traders attributing the gains to additional speculative demand coupled with few sellers on the secondary market.
Read MoreTwo more California offset projects chart LCFS pathways
A pair of Missouri-based dairy digesters previously registered under California’s compliance offset programme applied for fuel pathways under the Low Carbon Fuel Standard (LCFS), with only one having previously generated compliance-grade credits, according to documents published Thursday.
Read MoreUS Carbon Pricing and LCFS Roundup for week ending June 11, 2021
A summary of legislative and regulatory action on carbon pricing, clean fuel standards, and clean energy at the US subnational and federal level this week, including developments in Colorado, the New England Independent System Operator, and North Carolina.
Read MoreRFS Market: RIN prices crash on report of possible refiner compliance relief
US biofuel credits (RINs) careened as much as 15% on Friday morning after a news outlet reported that President Joe Biden’s administration is considering relief for Renewable Fuel Standard (RFS) obligated parties to alleviate continued record prices under the programme.
Read MoreNA Market: CCAs extend spring bull run with more speculative buying, as RGGI prices gain after auction
California Carbon Allowance (CCA) prices continued their months-long bullish trend on the secondary market amid further financial inflows, as RGGI Allowance (RGA) values also rose throughout the week after the Q2 auction settled close to the $8.00 mark.
Read MoreTCI-P makes minimal tweaks to fuel sector carbon market in final Model Rule
The four Transportation and Climate Initiative Programme (TCI-P) jurisdictions released a final Model Rule on Thursday for implementing the proposed regional US fuel sector cap-and-trade programme, making several changes to the scheme but keeping the overall regulatory structure largely intact from a previous draft.
Read MoreArgus set to bring back in-person US environmental markets conference, as others make plans
Price reporting agency Argus Media announced Thursday it will hold its Biofuels and LCFS Markets Summit in California this autumn, marking the first in-person environmental markets conference in the US since the COVID-19 crisis began last year.
Read MoreGlobal shipping’s R&D fund seen getting top billing over carbon pricing at UN talks
The UN’s International Maritime Organisation’s (IMO) will in the coming days attempt to advance negotiations around an industry-led proposal for a small fuel levy to finance shipping R&D, with observers expecting this effort to eclipse discussions on global carbon pricing measures for the sector.
Read MoreECOSYSTEM MARKETPLACE – Shades of REDD+: Corresponding Adjustments, Equity, and Climate Justice
The increasing commoditization of carbon markets makes us forget that behind these board room discussions, there is a real-world problem out there with the plight of real people at stake. While being an invention of the global north, carbon markets came with a great promise for us here in the South. The idea of backing voluntary claims with corresponding adjustments puts this promise at grave risk, writes Sandeep Roy Choudhury – Co-Founder of VNV Advisory Services, Co-Chair of the International Carbon Reduction and Offset Alliance (ICROA), and Director at the Carbon Initiative Forum.
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