US soil carbon startup doubles programme size
A US soil carbon startup is expanding to allow more farmers to earn payments for sequestering greenhouse gases.
Read MoreSpeculators scoop up V23 CCAs, producers reduce record length
Financial participants increased their California Carbon Allowance (CCA) futures-only holdings but reduced their combined futures and options holdings in the latest reporting period, while compliance entities offloaded allowances, according to US Commodity Futures Trading Commission (CFTC) data.
Read MoreLCFS Market: California LCFS prices consolidate amidst near-term challenges
Faced with a plethora of negative catalysts, California’s Low Carbon Fuel Standard (LCFS) credit prices appeared to consolidate as they approached early June lows this week, while some buyers remain.
Read MoreSenator key to passing US climate bill backs Biden
US Senator Kyrsten Sinema (D) is considered the final piece to the puzzle of passing a sweeping climate change, healthcare, and tax reform bill called the Inflation Reduction Act (IRA), and she’s signed on to vote in favour.
Read MoreANALYSIS: Energy, industrial, and aviation firms tend to pay below-average for carbon credits
Companies active in the energy, heavy industry, and aviation sectors tend to pay below-average for their carbon offsets, according to retirement data collated by a climate analytics firm, while car manufacturers and tech firms have historically purchased credits at a higher price than most others.
Read MoreChina suspends US climate talks after Pelosi Taiwan visit
China on Friday said it would cancel or suspend a number of bilateral processes with the US in response to Speaker of the House Nancy Pelosi’s visit to Taiwan this week, including the two nations’ cooperation on climate change issues.
Read MoreCalifornia’s 100-year forest offset reserve set aside for wildfires exhausted in less than a decade, research finds
Wildfires in the US have depleted at least 95% of California’s forest offset buffer pool in just one decade, a reserve mechanism used by the state’s forest carbon offsets programme, which is designed to protect against the risk of damage to forests from natural disasters for a period of 100 years, research has found.
Read MoreCanada rebuffs Koch in cap-and-trade legal dispute
The Canadian federal government has argued the carbon allowances Koch Industries purchased in the shuttered Ontario cap-and-trade system aren’t protected investments under the North American Free Trade Agreement (NAFTA), legal documents released Tuesday revealed, marking the latest development in a years long dispute.
Read MoreNA Markets: CCAs surge while RGAs stagnate in legal quagmire
California Carbon Allowance (CCA) prices climbed on purchases believed to be generated from funds along with an uptick in broader market sentiment, while RGGI Allowances (RGAs) were relatively flat this week, as Pennsylvania’s future in the 11-state cap-and-trade programme remains mired in uncertainty.
Read MoreGreen group sues Virginia over release of AG opinion on RGGI withdrawal
A green group has sued Virginia’s government to force it to release a document that the environmental organisation says contains an opinion from the state’s attorney general’s office indicating that Gov. Glenn Youngkin (R) cannot withdraw Virginia from RGGI.
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