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Washington cap-and-trade bill passes first committee, though transportation ties loom

Published 22:41 on February 25, 2021  /  Last updated at 22:41 on February 25, 2021  /  Americas, Canada, US  /  No Comments

A WCI-modelled carbon market bill passed its first committee in the Washington state legislature on Thursday, but a key senator signalled that he will tether the act’s ultimate implementation to lawmakers also enacting a transportation funding package this session.

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California offset task force hits back at conflict of interest claims from former members

Published 16:30 on February 25, 2021  /  Last updated at 16:34 on February 25, 2021  /  Americas, Canada, US  /  No Comments

The California Compliance Offset Protocol Task Force (OPTF) pushed back Wednesday against criticism from two environmental and environmental justice (EJ) members who resigned this month, arguing the former appointees misrepresented the group’s charter and provided little input on behalf of their stakeholder constituencies in shaping the body’s final report.

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California hands out 2.2 mln offsets as forestry projects take lion’s share

Published 22:18 on February 24, 2021  /  Last updated at 22:18 on February 24, 2021  /  Americas, Canada, US, Voluntary Market  /  No Comments

California issued more than 2.2 million compliance offsets this week, with forestry projects located outside the Golden State bringing home the vast majority, according to data published by state regulator ARB on Wednesday.

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WCI current vintage auction sells out for second consecutive quarter

Published 21:04 on February 24, 2021  /  Last updated at 17:27 on February 25, 2021  /  Americas, Canada, US  /  No Comments

The Q1 California-Quebec current vintage auction cleared to enable unsold carbon permits to return next quarter, while the advance auction went fully subscribed for the first time since the WCI programme expanded to include the transportation fuel sector, according to results released Wednesday.

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Nova Scotia targets 80% renewable energy by 2030

Published 15:48 on February 24, 2021  /  Last updated at 19:48 on February 24, 2021  /  Americas, Canada  /  No Comments

Nova Scotia is aiming to double its renewable energy target by the end of the decade, new Premier Iain Rankin announced Wednesday, in a move that could factor into the future trajectory of the Canadian province’s annual carbon market caps.

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California may fall short of 2030 GHG goal without steep fuel sector abatement, audit finds

Published 22:20 on February 23, 2021  /  Last updated at 22:20 on February 23, 2021  /  Americas, Canada, RINs & LCFS, US  /  No Comments

California risks missing its 2030 climate goal unless it can drive faster emissions reductions from the transportation sector, while regulator ARB may be overstating carbon abatement resulting from incentive-based programmes and its economy-wide cap-and-trade scheme, a government audit found.

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Lower demand, higher supply leading to wider California ‘Golden’ Offset premium

Published 21:04 on February 23, 2021  /  Last updated at 21:54 on February 23, 2021  /  Americas, Canada, US  /  No Comments

The premium for California Carbon Offsets financially backed against invalidation is rising amid increasing supply and lower demand during the COVID-19 pandemic, while participants continue to question whether an influx of buying will occur this year.

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Quebec organisation launches impact investment fund for forest carbon credits

Published 19:02 on February 23, 2021  /  Last updated at 19:02 on February 23, 2021  /  Americas, Canada, International, New Market Mechanisms, REDD, South & Central, Voluntary Market  /  No Comments

Ecosystem restoration organisation Viridis Terra International launched a sustainable impact investment fund on Tuesday, targeting a 7% average annualised return on its initial batch of Peruvian forestry projects that will generate carbon credits and sustainable commodities.

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California diesel consumption rises YoY in November as gasoline sales slump again

Published 22:06 on February 22, 2021  /  Last updated at 22:06 on February 22, 2021  /  Americas, Canada, US  /  No Comments

California diesel consumption eclipsed 2019 levels in November amid heavy port activity in the Golden State, while gasoline sales continued to languish during the COVID-19 pandemic, according to state data published Monday.

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VCM Report: Market participants eye voluntary demand for California offsets

Published 20:26 on February 22, 2021  /  Last updated at 20:26 on February 22, 2021  /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, Canada, China, China's Offset Market, Other APAC, REDD, South & Central, US, Voluntary Market  /  No Comments

Voluntary emissions reduction (VER) values remained firm this week on persistent demand, while traders and project developers assessed whether more California compliance offset projects may seek higher values in the voluntary carbon market (VCM) going forward. 

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