Low WCI allowance prices could reduce need for California refinery allocations -IEMAC
California should evaluate the future of refinery allocations under its WCI-linked carbon market if allowance prices are expected to remain near the floor price in the post-2020 period, a state watchdog said Friday, adding that regulators should also consider the impact of the supply surplus and possible auction changes.
Read MoreCalifornia offsets may have reached peak supply -developer
California carbon offset (CCO) supply may have topped out in recent years as protocol changes, manufacturing trends, and transitions to other climate programmes reduce future credit issuances, a project developer said Friday.
Read MoreUS threatens CORSIA exit if GHG baseline decision not made next week
The US will opt out of the first three years of the CORSIA offset mechanism for global air travel if other countries do not agree to alter the programme’s emissions baseline next week, with other nations potentially following suit, a Dutch minister said Friday.
Read MoreNA Markets: CCAs slip further below floor price, RGGI edges under ECR level
California Carbon Allowance (CCA) prices fell further below the WCI auction reserve value this week as secondary market activity declined, while RGGI allowances (RGAs) dropped beneath the supply-curbing Emissions Containment Reserve (ECR) trigger price.
Read MoreCalifornia offset issuances rise to 1.9 mln on new forestry project
California granted more than 1.9 million new compliance offsets this week as the bulk of the credits went to a Washington-based forestry project on tribal lands, according to data published by regulator ARB on Wednesday.
Read MoreWisconsin offset project under California review cited for leaking waste facility
A Wisconsin-based compliance offset project violated state regulations after a waste storage facility leaked into the groundwater and caused contamination, according to documents published this month.
Read MoreCalifornia’s ARB to release guidance on ‘DEBs’ offsets criteria soon -source
California regulator ARB is expected to publish guidance shortly on the criteria for offsets to be classified as having a direct environmental benefit to the state (DEBs), potentially giving clarity to emitters before the provision’s implementation in 2021, a regulatory source told Carbon Pulse.
Read MoreCalifornia claims federal government’s ETS linkage challenge based on pure speculation
California’s cross-border ETS linkage with Quebec does not present any conflict with the Trump administration’s decision to leave the Paris Agreement, and the federal government’s Foreign Affairs Doctrine challenge to the programme is rooted in unsupported speculation, according to court filings released late Monday.
Read MorePandemic impact to hit ETS prices for 2 years, voluntary market more resilient -survey
The COVID-19 pandemic is likely to weigh on ETS prices worldwide for the next two years, with price expectations for the coming decade also dropping, according to an annual survey of carbon market participants and observers published on Tuesday.
Read MoreNewsom, legislature drop California ETS rulemaking provision, agree to future evaluation
California officials on Monday removed a budget provision to require a cap-and-trade rulemaking by next year as part of a compromise between state lawmakers and Governor Gavin Newsom (D), though they will reassess changes by the Scoping Plan update, a legislative source said.
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