Canada publishes first two draft protocols for federal offset system
The Canadian environment ministry this week released the first two draft protocols under the national carbon offset system, as it revealed further details on the delayed timelines for developing and finalising additional methodologies under the nascent programme.
Read MoreOffset policy can provide easier path to carbon market linking, report finds
Prospects for linking carbon markets could hinge on how closely jurisdictions make provisions for offset use, according to a report prepared for the regulatory authorities of the EU, California, Quebec, China, New Zealand and Switzerland carbon compliance markets.
Read MoreExxon snubs vast majority of emissions in aspirational 2050 net zero target
ExxonMobil on Tuesday announced it will hope to reach net zero GHG output from its operations by mid-century, though it continued the trend of American oil majors declining to cover emissions from their products within their climate strategies.
Read MoreANALYSIS: US oil companies lag in climate targets, avoid lifecycle commitments
The climate goals of US oil and gas companies are less ambitious compared with their European counterparts as they avoid firm commitments to address full lifecycle emissions and set targets that enable their absolute greenhouse gas output to rise.
Read MoreUN chief warns Davos on climate inaction, global risks
UN Secretary General Antonio Guterres told the World Economic Forum (WEF) on Monday that there is no sign that governments are planning to effectively manage climate risks, urging the private sector to step up efforts and avoid greenwashing well ahead of November’s COP27 UN climate talks in Egypt.
Read MoreVCM Report: Nature-based contract hits new heights while CORSIA units falter
Standardised nature-based voluntary emissions reductions (VER) prices found strength this week, while technology-based CORSIA-eligible credits and others generally flatlined or sank.
Read MoreVirginia Republican governor commences process to end RGGI-linked programme
Virginia Governor Glenn Youngkin (R) on Saturday issued an executive order to assess and ultimately sever the state’s RGGI-linked cap-and-trade regulation, though it is uncertain when or even if the new leader can end Old Dominion’s membership in the power sector carbon market without new legislation.
Read MoreFinancial players’ CCA length rises back towards 100 mln, emitters add to holdings
Speculators significantly increased their California Carbon Allowance (CCA) holding this week as prices dove, while compliance entities modestly decreased their net short position, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreQuebec free carbon allowance allocation inches down in 2022
Quebec’s initial free allowance distribution for 2022 slightly regressed from the previous year, even as the number of industrial cap-and-trade emitters receiving allocation increased, according to data published by the province’s environmental ministry.
Read MoreUS Carbon Pricing and LCFS Roundup for week ending Jan. 14, 2022
A summary of legislative and regulatory action on carbon pricing, clean fuel standards, and clean energy at the US subnational and federal level this week, including a market-based climate policy in New Mexico.
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