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Global emissions far off track for 1.5C, even as US GHGs to plunge to 1983 levels this year -reports

Published 16:11 on November 19, 2020  /  Last updated at 19:28 on November 20, 2020  /  Americas, Canada, Climate Talks, International, US  /  No Comments

Countries are progressing on their GHG reduction targets too slowly to reach net zero emissions by mid-century, even as the COVID-19 pandemic may inadvertently put the US on track to meet its previous Paris Agreement goals, according to two reports published Thursday.

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Canada puts forth legislation for five-year GHG budgets, 2050 net zero target

Published 12:51 on November 19, 2020  /  Last updated at 19:21 on November 20, 2020  /  Americas, Canada, International  /  No Comments

Canadian Environment Minister Jonathan Wilkinson introduced a long-awaited bill on Thursday to install five-year GHG reduction budgets and a mid-century commitment to net zero emissions, with the forthcoming 2030 target to serve as an update to the country’s Paris Agreement goal.

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Stakeholders see pathways for LCFS and CO2 pricing programmes in Washington, New York

Published 18:25 on November 17, 2020  /  Last updated at 18:40 on November 17, 2020  /  Americas, Canada, RINs & LCFS, US  /  No Comments

Washington state Democrats are optimistic that reintroduced low-carbon fuel standard (LCFS) and cap-and-trade bills could pass in the 2021 legislative session, while a New York environmental advocate believes the state could implement a clean fuels programme as early as 2022.

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California may need to drop electric vehicles from the LCFS in the 2030s -ARB board member

Published 18:08 on November 17, 2020  /  Last updated at 08:23 on November 18, 2020  /  Americas, Canada, RINs & LCFS, US  /  No Comments

The anticipated growth in electric vehicle deployment over the coming decades may eventually require California to drop the credit generator from the state’s Low Carbon Fuel Standard (LCFS), a board member of regulator ARB said Tuesday.

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Analysts lower 2020 WCI emissions forecast on strained rebound for fuel, power sectors

Published 16:00 on November 17, 2020  /  Last updated at 14:26 on November 17, 2020  /  Americas, Canada, US  /  No Comments

The California-Quebec carbon market will experience further GHG abatement in 2020 due to a slower recovery in gasoline and electricity demand than previously expected and more efficient gas plants running in the Golden State, analysts said in a report published Tuesday.

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COVID-19, LCFS could influence future WCI supply-demand balance

Published 17:40 on November 16, 2020  /  Last updated at 18:44 on November 16, 2020  /  Americas, Canada, RINs & LCFS, US  /  No Comments

California Carbon Allowance (CCA) values will rise off the WCI auction reserve price in the first half of the decade, with the state’s Low Carbon Fuel Standard (LCFS) and COVID-19 pandemic playing a critical role in the linked cap-and-trade programme’s future supply-demand balance, a conference heard Monday.

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California regulated entities trim carbon allowance holdings before Q4 auction

Published 17:27 on November 16, 2020  /  Last updated at 18:48 on November 16, 2020  /  Americas, Canada, US  /  No Comments

Emitters slashed their California Carbon Allowance (CCA) position last week ahead of the Nov. 17 WCI auction and as prices increased on the secondary market, while speculators kept their holdings nearly unchanged, according to US Commodity Futures Trading Commission (CFTC) data published Monday.

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California should set carbon market caps in line with 2045 net zero target -IETA

Published 16:31 on November 16, 2020  /  Last updated at 18:50 on November 16, 2020  /  Americas, Canada, US  /  No Comments

California’s cap-and-trade programme should play a central role in the state reaching its carbon neutrality goal, with more stringent CO2 allowance budgets necessary to hit this long-term abatement target, business group IETA said in a report published Monday.

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Quebec bans new sales of gas-powered vehicles by 2035, issues industrials free carbon allowances

Published 16:26 on November 16, 2020  /  Last updated at 19:01 on November 17, 2020  /  Americas, Canada, US  /  No Comments

The Quebec government on Monday announced that it will phase out the sale of new gasoline-powered vehicles on the same timeline as WCI partner California, as the province’s environment ministry handed out more than 4 mln additional V19 permits.

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PREVIEW: WCI participants see November carbon auction selling out under secondary market level

Published 16:11 on November 16, 2020  /  Last updated at 19:04 on November 17, 2020  /  Americas, Canada, US  /  No Comments

Traders anticipate the California-Quebec cap-and-trade auction on Tuesday will sell out after the last two consecutive sales went undersubscribed, with the current vintage price expected to settle at a discount to the secondary market.

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