Mine methane capture credits now second-largest offset category in California
California issued some 100,000 offsets in the last two weeks to mine methane capture (MMC) projects, overtaking total ozone depleting substance offsets (ODS) issued by the state, according to data published on Wednesday.
Read MoreWCI compliance instrument surplus builds in Q1
The WCI compliance instrument surplus built in Q1 as the market entered the final year of the fifth compliance period, state data showed.
Read MoreBRIEFING: Analysts cautiously optimistic on California ISOR timeline, expect 2028 for Washington linkageĀ
CarbonĀ market analysts offered broadly positive outlooks on theĀ formalisationĀ of planned updates to the California cap-and-investĀ programmeĀ via theĀ Initial Statement of Reasons (ISOR)Ā but said they expected linkage with Washington to occurĀ inĀ 2028 at the earliest during a workshop hostedĀ last weekĀ by Carbon Pulse.
Read MoreQ2 RGGI auction to offer highest number of allowances since 2023
The Q2 RGGI carbon auction will offer a slightly higher number of allowances than the first sale of the year, as well as the most since 2023, according to a notice published Tuesday.
Read MoreCFTC: Managed money reverses RGA net short, cuts CCA length
Financial players reversed their RGGI Allowance (RGA) net short position for the first time this year, while trimming their California Carbon Allowance (CCA) net length, according to latest data from the US Commodity Futures Trading Commission (CFTC).
Read MoreUPDATE – RGGI Market: RGAs rally to record highs around $30
RGGI Allowance (RGA) futures rallied in recent days to historic highs around the $30 mark as Virginia detailed its planned timeline for rejoining the programme in the coming months.
Read MoreNACW26: BRIEFING – Climate superfund suits potential “roadmap” for DOJ challenge to California ETS, but seen unlikely to succeed
The Trump administration’s ongoing lawsuits against other states’ climate superfund lawsuits could reveal a āroadmapā for a potential legal challenge against Californiaās cap-and-invest programme, according to a legal expert, while others agreed any challenge against the ETS would be unlikely to succeed.
Read MoreWCI Markets: CCAs dip to multi-month lows
California Carbon Allowances (CCA) have dipped to multiple month lows below $29 over the past week as uncertainty continues to plague the market on multiple fronts.
Read MoreAllowances on offer at Q2 Washington auction drop over 7% to record low
The Q2 sale for Washington’s cap-and-invest programme will offer 7.5% fewer allowances than the previous quarterly sale, representing another record low, according to a notice published Friday.
Read MoreCalifornia-based WCI accounts dip in Q1
Total California-registered accounts under the state’s Quebec-linked compliance carbon market dipped below 820 in Q1, state data published this week showed.
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