California hands out 2.2 mln offsets as forestry projects take lion’s share
California issued more than 2.2 million compliance offsets this week, with forestry projects located outside the Golden State bringing home the vast majority, according to data published by state regulator ARB on Wednesday.
Read MoreWCI current vintage auction sells out for second consecutive quarter
The Q1 California-Quebec current vintage auction cleared to enable unsold carbon permits to return next quarter, while the advance auction went fully subscribed for the first time since the WCI programme expanded to include the transportation fuel sector, according to results released Wednesday.
Read MoreNova Scotia targets 80% renewable energy by 2030
Nova Scotia is aiming to double its renewable energy target by the end of the decade, new Premier Iain Rankin announced Wednesday, in a move that could factor into the future trajectory of the Canadian province’s annual carbon market caps.
Read MoreCalifornia may fall short of 2030 GHG goal without steep fuel sector abatement, audit finds
California risks missing its 2030 climate goal unless it can drive faster emissions reductions from the transportation sector, while regulator ARB may be overstating carbon abatement resulting from incentive-based programmes and its economy-wide cap-and-trade scheme, a government audit found.
Read MoreLower demand, higher supply leading to wider California ‘Golden’ Offset premium
The premium for California Carbon Offsets financially backed against invalidation is rising amid increasing supply and lower demand during the COVID-19 pandemic, while participants continue to question whether an influx of buying will occur this year.
Read MoreQuebec organisation launches impact investment fund for forest carbon credits
Ecosystem restoration organisation Viridis Terra International launched a sustainable impact investment fund on Tuesday, targeting a 7% average annualised return on its initial batch of Peruvian forestry projects that will generate carbon credits and sustainable commodities.
Read MoreCalifornia diesel consumption rises YoY in November as gasoline sales slump again
California diesel consumption eclipsed 2019 levels in November amid heavy port activity in the Golden State, while gasoline sales continued to languish during the COVID-19 pandemic, according to state data published Monday.
Read MoreVCM Report: Market participants eye voluntary demand for California offsets
Voluntary emissions reduction (VER) values remained firm this week on persistent demand, while traders and project developers assessed whether more California compliance offset projects may seek higher values in the voluntary carbon market (VCM) going forward.
Read MoreFinancials add to CCA length before WCI auction as emitters hold steady
Speculators bolstered their California Carbon Allowance (CCA) holdings this week ahead of the first WCI auction of the year, as compliance entities kept their length mostly unchanged, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreCapital Power opts for TIER fund payments over offsets at Alberta coal unit
Electricity generator Capital Power is choosing to pay the excess emissions charge under Alberta’s Technology Innovation and Emissions Reduction (TIER) for one of its coal-fired units rather than surrender carbon credits for its 2020 obligations, the company said Friday.
Read More