Provinces cite cap-and-trade, COVID-19 response as arguments against Canadian CO2 pricing regime
Supreme Court oral arguments against the Canadian government’s ‘backstop’ carbon pricing system entered the second and final day on Wednesday, as Quebec contended the federal system threatens its ability to implement its WCI-linked ETS, while New Brunswick offered Ottawa’s response to the coronavirus pandemic as a better model of cooperative federalism.
Read MoreCalifornia grants five-month high in offsets as total supply breaks 200 mln
California Carbon Offset (CCO) issuances hit a five-month high this week, boosted by two large forestry projects receiving more than 8 million credits, as the total number of credits distributed by state regulator to date ARB topped 200 mln.
Read MoreSpecified source emissions spike in Ontario during truncated final year of WCI participation
Ontario’s GHG emissions rose year-on-year in 2018 from specified sources as Premier Doug Ford yanked the province out of the WCI-linked ETS midway through the year, according to recent government data.
Read MoreOregon wildfires trigger unintentional reversal in California offset programme
An Oregon-based forestry project registered under California’s compliance offset programme appears to have been affected by devastating wildfires in the American West, potentially triggering the WCI-linked cap-and-trade scheme’s credit buffer pool.
Read MoreCalifornia governor announces ban on gas-powered vehicle sales by 2035
California will require all new vehicles sold to be zero-emissions by 2035, a move that will slash the state’s GHG emissions by an estimated 35%, according to an executive order signed by Governor Gavin Newsom (D) on Wednesday.
Read MoreCanadian provinces, Ottawa square off on federal CO2 pricing system in Supreme Court
Three conservative-led Canadian provinces argued before the country’s highest court on Tuesday that the federal government lacks Constitutional authority to impose its ‘backstop’ CO2 levy and output-based pricing system (OBPS) on recalcitrant jurisdictions, while Ottawa and British Columbia contended that climate change is a matter of national concern that necessitates minimum national standards of GHG pricing.
Read MoreFinancial interest in RGGI continues to grow as 12th new speculator registers
The 12th new speculator of the year opened a RGGI CO2 Allowance Tracking System (COATS) account this week, continuing the flood of financial entities into the Northeast US power sector carbon market in 2020.
Read MoreCalifornia gasoline sales trend toward historic levels in July, though pace eases
California fuel consumption continued to skew towards historic norms in July after hitting record lows in April during the onset of the COVID-19 pandemic, though the rate of increase has eased, according to federal data released this week.
Read MoreCO2 neutrality pledges build among corporates and subnational govts, though inconsistencies remain -report
Net zero emissions pledges are ramping up but in subnational jurisdictions and among companies, but the ultimate scope of these efforts could determine their long-term effectiveness in reducing GHG, according to new analysis published Monday.
Read MoreCanada accepts weaker Ontario and New Brunswick large emitter programmes to replace federal OBPS
The Canadian government approved Ontario and New Brunswick’s output-based pricing systems (OBPS) under the federal carbon pricing framework on Monday, despite Ottawa’s own admission that both programmes in the conservative-led jurisdictions will achieve fewer GHG reductions than the national ‘backstop’ mechanism.
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