New banking regulations “unduly penalise” EU carbon trading, financial markets trade group warns
New European banking regulations could unduly hamper global carbon trading by assigning an excessive risk weighting and penalising allowance carry trades in the EU ETS, a major trade organisation representing financial market participants has warned.
Read MoreOil industry falls short of 1.5C goals, finds study that takes a hard line on offsets
The world’s oil and gas industry is set to vastly exceed emissions levels compatible with limiting global warming to the Paris Agreement’s 1.5C goal, according to a study that gave no weight to the sector’s massive offset buying spree.
Read MoreCalifornia natural gas generation rises in 2020 as power demand slumps
California electricity consumption declined to a near-term low in 2020 as a result of the COVID-19 pandemic, but natural gas-fired generation still increased over the past year due to a drop in hydroelectric capacity, according to state figures.
Read MoreNA Markets: CCA prices retrace further despite influx of V20 buying, RGGI stagnates on low demand
California Carbon Allowance (CCA) prices this week declined despite a surge in transacted volume, while RGGI Allowance (RGA) values edged down slightly across the week with limited buying interest.
Read MoreQuebec rejects LNG project over potential GHG impacts
The Quebec government declined to authorise a proposed natural gas liquefaction facility on Wednesday due to concerns that the project would not lead to a net reduction in global emissions.
Read MoreLCFS Market: California prices bounce back from 2.5-mth low as offers rise
California Low Carbon Fuel Standard (LCFS) credit values lifted off recent lows this week, though market participants reported large offers were backing up in light of the uptick.
Read MoreWashington fire torches second-largest California offset project
A wildfire in Washington state has lit up portions of a forestry offset project that has generated the second most credits to date under California’s WCI-linked cap-and-trade programme, according to data and sources.
Read MoreClimate Action Reserve proposes forecast carbon credit methodology for forest fuel treatments
Offset registry Climate Action Reserve (CAR) on Monday announced it is developing an ex-ante crediting methodology for fuel treatments, including prescribed burns, in order to reduce the severity of wildfires in the western US.
Read MoreDisheartened by existing voluntary carbon offerings, market veterans launch ‘fair and transparent’ offset service
Amid a global voluntary carbon market it says is hamstrung by profiteering, criminal activity, and a lack of regulation, a team of market veterans has launched a new carbon offset firm with the goal of providing for its customers a ‘genuine, fair, and transparent’ path to net zero.
Read MoreGlobal stimulus spending not enough to prevent record emissions by 2023 -IEA
The International Energy Agency (IEA) has warned that current government spending on post-COVID recovery measures isn’t targeting sufficiently clean energy investment, and that carbon emissions may climb to record levels by 2023 as a result.
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