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US grid regulator signals willingness to consider state-led CO2 pricing efforts

Published 22:13 on October 15, 2020  /  Last updated at 22:47 on October 15, 2020  /  Americas, Carbon Taxes, US  /  No Comments

The US Federal Energy Regulatory Commission (FERC) on Thursday said it has the authority to consider subnational proposals to incorporate carbon prices into wholesale electricity markets, but called for input on how certain details could fall within the agency’s jurisdiction.

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Biden grid decarbonisation plan would cut emissions in RGGI, California carbon markets -analysts

Published 22:37 on October 14, 2020  /  Last updated at 23:43 on October 16, 2020  /  Americas, Canada, US  /  No Comments

US Democratic presidential nominee Joe Biden’s plan to eliminate the carbon footprint of the nation’s power sector by 2035 would slash emissions in the RGGI and California cap-and-trade programmes compared to a business-as-usual scenario, analysts said Wednesday.

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California aims to set post-2030 LCFS targets by 2024 or 2025

Published 22:19 on October 14, 2020  /  Last updated at 23:56 on October 16, 2020  /  Americas, RINs & LCFS, US  /  No Comments

California will finalise post-2030 carbon reduction targets for the Low Carbon Fuel Standard (LCFS) by the middle of this decade following the completion of the state’s next Scoping Plan update, an official from regulator ARB said Wednesday.

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California mints 1 mln compliance offsets across all four active protocols

Published 21:33 on October 14, 2020  /  Last updated at 23:45 on October 16, 2020  /  Americas, Canada, US  /  No Comments

California divvied out more than 1 million carbon offsets across 13 new and existing projects over the past two weeks, with nearly half of the credits featuring direct environmental benefits to the state (DEBs), according to data from state regulator ARB published Wednesday,

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Switzerland clinches framework deal with Peru to buy carbon offsets under Paris Agreement

Published 13:01 on October 14, 2020  /  Last updated at 13:25 on October 14, 2020  /  Americas, EMEA, International, New Market Mechanisms, South & Central, Switzerland  /  No Comments

Switzerland has clinched a bilateral agreement with Peru to purchase carbon offsets under the Paris Agreement’s Article 6, the parties announced on Wednesday.

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ANALYSIS: Federal recognition of Ontario large emitter programme complicates Canadian offset outlook

Published 22:07 on October 13, 2020  /  Last updated at 22:39 on October 13, 2020  /  Americas, Canada, Carbon Taxes, Voluntary Market  /  No Comments

Canadian carbon credit demand could skew lower following Ottawa’s approval of the Ontario Emissions Performance Standard (EPS) to replace the federal ‘backstop’ output-based pricing system (OBPS), while the decision may also erode support for the national offset programme under development, market stakeholders told Carbon Pulse.

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California’s revised post-2020 carbon allowance reserve tiers not accounted for in WCI data

Published 21:53 on October 13, 2020  /  Last updated at 21:53 on October 13, 2020  /  Americas, Canada, US  /  No Comments

California’s amended post-2020 allowance reserve tiers are not currently incorporated in the WCI cap-and-trade programme’s Compliance Instrument Tracking Service System (CITSS), meaning some carbon permits currently sitting in jurisdictional accounts will be moved in subsequent quarters, state regulator ARB confirmed.

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Greater US inflation rate pushes 2021 California carbon allowance floor price forecast up again

Published 14:20 on October 13, 2020  /  Last updated at 22:23 on October 13, 2020  /  Americas, Canada, US  /  No Comments

California’s carbon market floor price expectations inched higher for the fourth consecutive month as federal data showed US inflation continued its upward trend after the onset of the COVID-19 pandemic.

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Huge CO2 cuts needed promptly to hit net zero emissions by 2050 -IEA

Published 09:34 on October 13, 2020  /  Last updated at 18:22 on October 13, 2020  /  Africa, Americas, Asia Pacific, China, EMEA, International  /  No Comments

Global CO2 emissions must be reduced by around 45% over the next decade compared to a business-as-usual scenario to put the world on track to achieving net zero emissions by mid-century, according to the IEA.

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California offset task force ideas offer limited market benefit, say traders

Published 23:01 on October 12, 2020  /  Last updated at 00:50 on October 13, 2020  /  Americas, Canada, US  /  No Comments

California carbon market participants see offset task force recommendations for a reduced invalidation period and a tradeable limit as positives, but foresee few market impacts if those changes were implemented.

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