Speculators jump back into California market, emitters take advantage of CCA price spike and reduce net holdings
Speculators raised their net holdings of California Carbon Allowances (CCAs) this week as producers took advantage of a steady price increase and reduced CCA net interest, but picked up RGGI Allowances (RGAs) despite a lack of momentum in the US Northeast power sector carbon market, data from the US Commodity Futures Trading Commission (CFTC) showed Friday.
Read MoreWCI current vintage auction size slightly reduced for Q3 sale
California and Quebec will offer slightly fewer carbon allowances at this August’s auction compared to the Q2 2023 sale last month, according to a government notice published Friday.
Read MoreWCI Markets: CCAs push higher from rulemaking workshop and into options expiry, Washington reserve sale size boosts secondary market
California Carbon Allowance (CCA) prices rallied through a packed week of activity including a cap-and-trade public workshop discussing plans to increase programme stringency, options expiry, and macro markets rallying after a pause in the US interest rate hiking cycle, while Washington Carbon Allowances (WCA) initially lurched higher on the announcement of a small reserve sale in August.
Read MoreCanada-based developer finalises $2.5 mln pre-sale of African reforestation credits to mystery buyer
A Sierra Leone rewilding project run by a Canadian company had $2.5 million (C$3.3 mln) of its yet-to-be generated carbon credits pre-purchased by a Fortune 100 company, the developer announced Thursday.
Read MoreCanada-based voluntary carbon project investor launches online credit marketplace
A Canadian-based voluntary carbon project investor has launched an online marketplace offering credits from its portfolio.
Read MoreGlobal steel industry has the mettle to decarbonise by early 2040s, say think-tanks
The global steel industry could achieve net zero emissions by the early 2040s without risking stranded assets from existing coal-based blast furnaces, according to a new study by two European think-tanks.
Read MoreQuebec awards more offsets than California, as ARB’s distribution craters
Quebec distributed more compliance offsets than WCI partner California this week, as a plunge in the Golden State’s issuances lined up with one of the few yearly allocations by La Belle Province, according to government data published Wednesday.
Read MoreCalifornia’s ARB reiterates greater cap-and-trade ambition, says formal rulemaking could begin this year
California regulator ARB discussed potential scenarios of raising the Allowance Price Containment Reserve (APCR) tiers and ceiling prices in addition to modelling increased stringency of the cap-and-trade programme at a webinar on Wednesday, adding that formal rulemaking could begin as early as this year.
Read MoreNova Scotia June cap-and-trade auction settles at floor with major utility absent
The Nova Scotia carbon auction this month sold all allowances at the scheme’s floor price, with the Canadian province’s largest utility not having qualified after receiving millions of extra free permits this spring, according to results published Wednesday.
Read MoreBritish Columbia reviews fuel switching offset protocol due to additionality risk
The British Columbia government on Tuesday put the province’s fuel switching offset protocol (FSOP) under review because emissions reductions under the methodology may no longer be additional to business-as-usual practice.
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