Position adjustments ahead for top carbon ETF after tracked index rebalances
The world’s largest carbon allowance ETF is expected to adjust its holdings – currently valued at almost $1.4 billion – in the coming days after the index it tracks announced a major rebalancing and new market weightings.
Read MoreEmitters, speculators cut California carbon positions before Q4 auction results
Both regulated entities and financial players shed their California Carbon Allowance (CCA) holdings last week prior to the release of the November WCI auction results, according to US Commodity Futures Trading Commission data published Monday.
Read MoreNA Markets: CCAs pare back losses after auction surprise, RGGI levels near $13
California Carbon Allowance (CCA) prices recovered nearly half their losses in recent days after the Q4 WCI auction settled at a massive discount to the secondary market, while RGGI Allowances (RGAs) rebounded slightly from their own retracement just before this week’s quarterly sale.
Read MoreVCM Report: VER price hike slows near record levels amid post-COP lull
Voluntary emissions reduction (VER) prices edged to new heights in some standardised contracts this week, while others slipped back amid subdued holiday-interrupted trade following the COP26 UN climate talks earlier in the month.
Read MoreEU lawmakers seek changes to CO2 border measures that could ease impact on US emitters
The European Parliament’s cross-party trade committee is seeking changes to the EU’s proposed Carbon Border Adjustment Mechanism (CBAM) that could substantially lower costs faced by US emitters, according to a draft report published this week.
Read MoreCampaigners cheer small victory for Arctic at UN’s shipping climate talks
A voluntary measure to reduce shipping’s black carbon emissions in the Arctic was adopted at the UN’s International Maritime Organisation (IMO) negotiations on Friday, a move welcomed by green groups as a modest step while other climate decisions for the sector were deferred.
Read MoreANALYSIS: Switzerland touts model for international emissions trade, voluntary market
Switzerland sealed its fifth and sixth bilateral crediting agreements on the sidelines of the Glasgow UN climate talks this month, touting the deals as a model of Paris Agreement-era emissions trade for countries as well as for companies in the voluntary carbon market.
Read MoreIMO climate talks slog along with another blockade to climate action, this time on black carbon
Climate progress under the UN’s International Maritime Organisation (IMO) faced another roadblock Thursday, as a handful of countries moved to block a resolution to reduce black carbon emissions in the Arctic – even though these were voluntary, non-binding measures.
Read MoreCalifornia dishes out 1.7 mln offset as prices retreat from record highs
California doled out 1.7 mln compliance offsets this week while CCO prices receded from recent record highs.
Read MorePermit prices tumble despite record result at WCI Q4 auction
California carbon allowance prices tumbled by as much as 14% after the oversubscribed Q4 Western Climate Initiative (WCI) auction cleared at a record but well below the secondary market.
Read More