Former Canadian mining firm seeks new life as carbon project developer
A Canadian former mining company is pivoting into the carbon credit space, with three nature-based projects in the developing world in the early stages of design.
Read MoreCalifornia March gasoline sales retreat from pre-pandemic levels, diesel hits record high
Gasoline consumption in California rose in March but still widened when compared to pre-pandemic levels, while diesel consumption notched a new 16-year high, according to state data published Friday.
Read MoreUN negotiators appoint supervisors for global carbon market mechanism
The UN’s new centralised market mechanism has confirmed appointments to its Supervisory Body, unlocking the opportunity to get started on a heavy workload that will help set the rules of government-level emissions trade in the Paris Agreement era.
Read MoreCCA and RGGI emitters continue adding net length, while speculators trim holdings significantly
Compliance entities raised their California Carbon Allowance (CCA) net length, while speculators significantly trimmed holdings amidst broader market macroeconomic weakness, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreWTO sets environmental precedent to raise hopes for climate fight
The World Trade Organization agreed on the first change to global trading rules for years on Friday, with an accord on fishing subsidies that gives a modest signal that nations can come together on global challenges even as climate issues drew scant focus.
Read MoreTens of millions of California Carbon Offsets at elevated wildfire risk this summer
Over 20 million compliance offsets under California’s cap-and-trade programme are subject to increased fire risk over the next several months amid scorching heat and record drought in the American West, researchers said Thursday.
Read MoreNA Markets: CCAs trend lower with broader markets, RGGI holds ground
California Carbon Allowance (CCA) prices dropped this week in line with macroeconomic weakness across broader markets, while RGGI Allowances (RGAs) ended the week relatively flat on continued strong bid interest.
Read MoreUN talks bring climate damage to the fore ahead of Egypt summit
Rich-to-poor payments for climate-related harm is set to be the focus of year-end UN climate negotiations, experts said on Thursday as interim talks wrapped in Bonn amid concerns over whether voluntary carbon market infrastructure should feature in a new global emissions trading regime.
Read MoreCalifornia legislators probe allowance supply changes, salvage banking metrics in revised carbon market bill
California lawmakers on Tuesday released the updated text of a cap-and-trade market reform bill that would address allowance overallocation and supply vis-a-vis offset usage, while also requiring the publication of banking metrics after a similar bill failed this spring.
Read MoreNova Scotia June carbon auction clears 75% above floor price, C$19 over November settlement
Nova Scotia’s fifth cap-and-trade auction cleared almost 75% above the 2022 auction reserve price at a record high settlement, rebounding significantly from November’s undersubscribed sale, according to results published Wednesday.
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