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Eleven new California CITSS accounts opened in Q2 as allowances sunk beneath WCI floor

Published 22:42 on June 30, 2020  /  Last updated at 23:37 on June 30, 2020  /  Americas, Canada, US  /  No Comments

Eleven entities opened California-based Compliance Instrument Tracking System Service (CITSS) accounts to participate in the WCI carbon market during the second quarter of 2020 as five others closed theirs, data from state regulator ARB showed Tuesday.

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LCFS Market: California prices dip towards $200 ahead of PG&E sale

Published 21:13 on June 30, 2020  /  Last updated at 22:59 on June 30, 2020  /  Americas, RINs & LCFS, US  /  No Comments

California Low Carbon Fuel Standard (LCFS) credit values continued their downward trend on Tuesday ahead of utility Pacific Gas & Electric’s (PG&E) latest auction.

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Researchers flag concerns on additionality, perverse incentives in California’s offset programme

Published 18:25 on June 30, 2020  /  Last updated at 23:58 on June 30, 2020  /  Americas, Canada, US  /  No Comments

California’s compliance offset approach does not eliminate the risk of over crediting emissions reductions from approved protocols, but further analysis and changes could minimise that outcome, according to an updated research report.

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US House Democrats back CO2 pricing, national LCFS for 2050 net zero goal

Published 17:58 on June 30, 2020  /  Last updated at 00:07 on July 1, 2020  /  Americas, Carbon Taxes, US  /  No Comments

Democrats on a US House of Representatives climate committee unveiled a sweeping roadmap Tuesday to decarbonise the economy by mid-century, including through carbon pricing and transitioning the Renewable Fuel Standard (RFS) into a nationwide Low Carbon Fuel Standard (LCFS).

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California to begin tagging DEBs-eligible offsets, accept out-of-state project applications

Published 18:36 on June 29, 2020  /  Last updated at 00:34 on June 30, 2020  /  Americas, Canada, US  /  No Comments

California regulator ARB will begin tagging in-state offset credits that meet the requirements of yielding direct environmental benefits to the state (DEBs) in the coming weeks, with an application process also expected to potentially qualify out-of-state projects with that distinction.

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LCFS Market: California credits dither as price cap set to kick in

Published 16:27 on June 29, 2020  /  Last updated at 20:14 on June 29, 2020  /  Americas, RINs & LCFS, US  /  No Comments

California Low Carbon Fuel Standard (LCFS) values have sagged recently on a lack of demand, even as fuel production and vehicle miles travelled picks up and the transportation sector programme’s price ceiling takes effect later this week.

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California fuel sales collapse in March amid COVID-19 outbreak, larger cuts expected in April

Published 16:20 on June 29, 2020  /  Last updated at 00:18 on June 30, 2020  /  Americas, Canada, US  /  No Comments

California’s WCI-capped fuel consumption plummeted during March as a statewide ‘shelter-in-place’ order went into effect and stunted vehicle miles travelled across the Golden State, with federal data forecasting steeper drops in April.

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Virginia publishes revised RGGI regulation with state-run allowance sales

Published 22:33 on June 26, 2020  /  Last updated at 22:33 on June 26, 2020  /  Americas, US  /  No Comments

Virginia’s Department of Environmental Quality (DEQ) released a revised RGGI regulation on Friday that installs state-run auctions, cuts the 2020 CO2 budget and makes other technical changes ahead of its scheduled adoption later this summer.

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Low WCI allowance prices could reduce need for California refinery allocations -IEMAC

Published 22:30 on June 26, 2020  /  Last updated at 22:30 on June 26, 2020  /  Americas, Canada, US  /  No Comments

California should evaluate the future of refinery allocations under its WCI-linked carbon market if allowance prices are expected to remain near the floor price in the post-2020 period, a state watchdog said Friday, adding that regulators should also consider the impact of the supply surplus and possible auction changes.

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California offsets may have reached peak supply -developer

Published 22:15 on June 26, 2020  /  Last updated at 22:15 on June 26, 2020  /  Americas, Canada, US  /  No Comments

California carbon offset (CCO) supply may have topped out in recent years as protocol changes, manufacturing trends, and transitions to other climate programmes reduce future credit issuances, a project developer said Friday.

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