RGGI compliance entities’ permit shortfall widens after Q3 auction

Published 21:39 on November 21, 2023  /  Last updated at 21:43 on November 21, 2023  / Joan Pinto /  Americas, Canada, US

Allowance holdings of power sector emitters under the RGGI carbon market increased at the end of the third quarter even as their estimated short position widened, while traded volumes cratered through Q3, according to a report published Tuesday.

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California’s power emissions increase in October, YoY decline slows down

Published 18:33 on November 21, 2023  /  Last updated at 20:49 on November 21, 2023  / Graham Gibson /  Americas, Canada, US

California electricity sector CO2 emissions continued to decrease from the previous year’s levels in October, but at a more moderate pace than in recent months, as shares of natural gas CO2 output skyrocketed and renewables fell back, data published Monday showed.

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Carbon removal firms partner to explore large-scale project development opportunities in Canada

Published 18:14 on November 21, 2023  /  Last updated at 20:52 on November 21, 2023  /  Americas, Canada, EMEA, Voluntary

Two carbon removal project developers have joined forces to explore the development of large-scale direct air capture (DAC) facilities in Canada.

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FEATURE: The end of easy oil extraction is on the horizon, paving the way for renewables

Published 13:49 on November 21, 2023  /  Last updated at 13:53 on November 21, 2023  / Paddy Gourlay /  Africa, Americas, Asia Pacific, Australia, Canada, China, EMEA, International, Middle East, US

Global warming is not the only driver of the headlong rush to transition to green energy that has triggered a borrowing binge battle between the US and China – the world is also running out of cheap and easily extracted oil.

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Climate Impact X suspends Kasigau REDD project from its nature-based index

Published 12:37 on November 21, 2023  /  Last updated at 23:18 on November 21, 2023  / Paddy Gourlay /  Africa, Americas, Asia Pacific, Australia, Canada, EMEA, International, Japan, Middle East, Nature-based, New Zealand, South Korea, Switzerland, US, Voluntary

Climate Impact X (CIX) has temporarily suspended credits from a troubled Kasigau corridor project (VCS 612) into delivery for its nature-based benchmark, Nature X, with immediate effect, a day after two senior staff member at the project were sacked in relation to ongoing investigation into sexual harassment and abuse allegations.

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Government climate pledges are too reliant on land-based carbon sinks -report

Published 04:00 on November 21, 2023  /  Last updated at 18:05 on November 20, 2023  / Bryony Collins /  Americas, Asia Pacific, Canada, Climate Talks, International, Middle East, Nature-based

Greater pressure should be placed in COP28 negotiations on countries to deliver fast and effective emissions reductions by phasing out fossil fuels and transitioning to low-carbon industry, seeing as a small number of high-emitting, high-income nations are overly reliant on land use to offset emissions in their climate pledges, according to a report published on Tuesday.

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Canada’s $14.6 billion CCUS and clean tech legislation doesn’t close gap with US IRA -experts

Published 22:26 on November 20, 2023  /  Last updated at 22:26 on November 20, 2023  / William Koblensky Varela /  Americas, Canada, US

Both a proponent and an opponent of carbon capture utilisation and sequestration (CCUS) agree that the US Inflation Reduction Act (IRA) will out-incetivise funding for Canadian technology, despite the expected C$20 billion ($14.6 bln) legislation on Tuesday enshrining a CCUS tax credit first announced in 2021.

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Canadian watchdog estimates a C$1.1 bln impact in fuel charges proceeds following carbon levy exemption, C$3 bln in rebate payments

Published 21:26 on November 20, 2023  /  Last updated at 07:41 on November 21, 2023  / Bijeta Lamichhane /  Americas, Canada, Carbon Taxes

Canada’s recent carbon policies would bring down tax revenue by over C$1 billion and increase rural supplement payments to $3 bln, says the budget watchdog.

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VCM Report: Carbon credit demand boosted as oil major returns to the market

Published 17:20 on November 20, 2023  /  Last updated at 17:34 on November 20, 2023  / Paddy Gourlay /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, Canada, China, EMEA, International, Japan, Mexico, Middle East, Nature-based, New Zealand, South & Central, South Korea, Switzerland, US, Voluntary

Large volumes of REDD avoided deforestation changed hands at rock bottom prices last week amid the continued fallout from the negative press coverage about the sector, while demand in general was lifted by the reappearance of an oil major in the market retiring a large volume of credits.

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Canadian legal experts mull over constitutionality of federal carbon pricing exemption for home heating oil

Published 00:42 on November 18, 2023  /  Last updated at 00:42 on November 18, 2023  / Allison Gacad /  Americas, Canada, Carbon Taxes

A Canadian law professor argued in an op-ed Friday that the federal Liberal government’s carbon pricing carve-out for home heating oil could “imperil” the legality of the carbon price in itself, while other legal experts rebut the arguments.

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