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RGGI Q2 auction volume inches up to 16.3 mln

Published 18:24 on April 7, 2020  /  Last updated at 00:45 on April 7, 2020  /  Americas, US  /  No Comments

The Northeast US RGGI carbon market will offer 16.3 million allowances for sale at its June auction, the 10-state programme announced on Tuesday.

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Coronavirus-induced power trend likely to impact RGGI, GWSA allowance bank adjustments

Published 23:06 on April 6, 2020  /  Last updated at 23:36 on April 6, 2020  /  Americas, US  /  No Comments

Two Northeast US power sector carbon programmes may see higher future bank adjustments due to the effect of widespread ‘shelter-in-place’ orders to stem the COVID-19 outbreak, regulatory sources said.

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US judge delays hearing challenging WCI cap-and-trade linkage

Published 22:57 on April 6, 2020  /  Last updated at 23:40 on April 6, 2020  /  Americas, Canada, US  /  No Comments

A federal judge agreed on Monday to move a pre-trial conference for the US federal government’s Constitutional challenge to the California-Quebec ETS linkage as the Department of Justice (DOJ) considers an amendment to its complaint.

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RFS Market: RIN prices gap higher on greater refiner demand

Published 22:15 on April 6, 2020  /  Last updated at 23:00 on April 6, 2020  /  Americas, RINs & LCFS, US  /  No Comments

US biofuel credits (RINs) surged nearly 15% Monday on reported strong demand from obligated parties despite several uncertainties hanging over the Renewable Fuel Standard (RFS) market.

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Hawaii CO2 tax legislation faces uncertain future amid COVID-19 pandemic

Published 19:00 on April 6, 2020  /  Last updated at 23:45 on April 6, 2020  /  Americas, Aviation/CORSIA, Carbon Taxes, US, Voluntary Market  /  No Comments

Hawaii legislators’ plans to approve a carbon levy proposal this year are in doubt due to the COVID-19 pandemic, but the economic fallout from the virus outbreak could present an opportunity to raise critical revenue for the tourism-dependent US state, the bill sponsor told Carbon Pulse.

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WCI compliance holdings grow in Q1 as allowance surplus rises

Published 23:16 on April 3, 2020  /  Last updated at 01:12 on April 4, 2020  /  Americas, Canada, US  /  No Comments

A bulk of the Q1 WCI auction volume remained in entities’ general accounts amid uncertainty in the secondary market, while regulated parties continued to deposit allowances into compliance accounts for future obligations, according to the California-Quebec programme’s Compliance Instrument Tracking Service System (CITSS) report released on Friday.

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Speculators make further cuts to California carbon holdings, data shows

Published 23:14 on April 3, 2020  /  Last updated at 01:32 on April 4, 2020  /  Americas, Canada, US  /  No Comments

Speculators pared back their California Carbon Allowance (CCA) positions for a third straight week, as compliance entities also saw their holdings decrease amid the March contract expiry date, US Commodity Futures Trading Commission (CFTC) data showed Friday.

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NA Markets: California prices plummet to $12 on further volatility

Published 18:35 on April 3, 2020  /  Last updated at 02:05 on April 4, 2020  /  Americas, Canada, US  /  No Comments

California Carbon Allowance (CCA) cratered to $12.00 on Friday morning on more brisk selling, though bargain hunters quickly brought values back close to the previous day’s settlement.

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Washington’s Puget Sound suspends plan for regional LCFS

Published 16:00 on April 3, 2020  /  Last updated at 18:55 on April 3, 2020  /  Americas, RINs & LCFS, US  /  No Comments

Washington’s Puget Sound Clean Air Agency (PSCAA) will halt approval of a low-carbon fuel standard (LCFS) for the greater Seattle area, with the potential of reevaluating the draft clean fuels programme in the future, the regional body announced Thursday.

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COMMENT: Five massive drivers of future demand for offsets

Published 01:01 on April 3, 2020  /  Last updated at 22:36 on April 2, 2020  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, Canada, China, Conversations, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, Other APAC, REDD, South & Central, US, Views, Voluntary Market  /  No Comments

Prior to the onslaught of COVID-19, a quick scan of the news each day would reveal that climate change is on the minds of customers and corporates worldwide.  Warmer winters with rain where there was once snow, colder weather anomalies due to destabilization of the polar vortex, and summers punctuated by raging fires in both hemispheres make the topic impossible to ignore.  And, while new regulatory regimes are cropping up across the globe, voluntary action is on the rise.

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