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Oil major may convert California refinery for LCFS, storage

Published 21:52 on August 3, 2020  /  Last updated at 16:05 on August 10, 2020  /  Americas, Canada, RINs & LCFS, US  /  No Comments

Fuel supplier Marathon Petroleum is exploring options for converting an idling California refinery into a storage facility or a renewable diesel plant for the state’s Low Carbon Fuel Standard (LCFS).

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Business groups challenge Oregon over carbon programme

Published 15:35 on August 3, 2020  /  Last updated at 18:34 on August 3, 2020  /  Americas, Canada, US  /  No Comments

Five trade associations filed a lawsuit on Friday claiming Oregon Governor Kate Brown (D) exceeded her authority by implementing a carbon reduction plan in targeted sectors and a more stringent clean fuels programme via executive authority earlier this year.

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British Columbia and First Nations group ink new forest offset agreement

Published 23:36 on July 31, 2020  /  Last updated at 23:46 on July 31, 2020  /  Americas, Aviation/CORSIA, Canada, Voluntary Market  /  No Comments

The British Columbia government and Coastal First Nations (CFN) signed a new memorandum of understanding on Friday that includes a five-year offset purchase agreement, with the document noting the struggles the Indigenous communities have faced in trying to sell their forest carbon credits to private buyers.

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WCI compliance entities, speculators hold California carbon positions firm ahead of August auction

Published 22:33 on July 31, 2020  /  Last updated at 22:33 on July 31, 2020  /  Americas, Canada, US  /  No Comments

Compliance entities and speculators kept their California Carbon Allowance (CCA) positions largely unchanged on the secondary market as prices began to retrace ahead of the August WCI auction, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

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NA Markets: RGGI allowances soar to new highs, California prices decline on higher volume

Published 21:44 on July 30, 2020  /  Last updated at 21:44 on July 30, 2020  /  Americas, Canada, US  /  No Comments

RGGI allowance (RGA) prices surged to a four-year high on the secondary market this week on increased compliance buying, while California Carbon Allowance (CCA) values slid despite more trading activity.

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New US-listed carbon ETF launched amid growing investor interest

Published 19:23 on July 30, 2020  /  Last updated at 01:38 on July 31, 2020  /  Africa, Americas, Asia Pacific, Bavardage, Canada, China, China's National ETS, EMEA, EU ETS, International, Kyoto Mechanisms, Mexico, New Market Mechanisms, New Zealand, Other APAC, South Korea, Switzerland, US  /  No Comments

A new US-listed exchange-traded fund (ETF) that tracks carbon prices in three markets was launched Thursday, allowing retail investors for the first time to indirectly hold cross-continental stakes in cap-and-trade schemes.

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California fuel sales crater in April during heights of COVID-19 pandemic

Published 23:57 on July 29, 2020  /  Last updated at 23:57 on July 29, 2020  /  Americas, Canada, US  /  No Comments

California’s WCI-capped fuel consumption collapsed in April as a statewide ‘shelter-in-place’ order scuttled vehicle miles travelled (VMT) across the Golden State, leading to historic lows for gasoline demand, according to state data released Wednesday.

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CARBON PULSE CONVERSATIONS 015: Sheppard Mullin

Published 22:17 on July 29, 2020  /  Last updated at 22:17 on July 29, 2020  /  Americas, Canada, Conversations, US  /  No Comments

In the latest episode of our Carbon Pulse Conservations podcast, we speak with Sheppard Mullin Partner Nico Van Aelstyn about the recent federal court rulings in the US Department of Justice’s (DOJ) legal challenges to the California-Quebec carbon market linkage.

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California forest offset developers seek improved invalidation guidance, project area changes

Published 22:04 on July 28, 2020  /  Last updated at 00:35 on July 29, 2020  /  Americas, Canada, US  /  No Comments

California’s Compliance Offset Protocol Task Force (OPTF) should recommend changes to invalidation language in the state’s compliance forestry protocol and allow initiatives to add or remove project areas in its report to regulator ARB on possible programme amendments, according to nearly a dozen developers.

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Former RGGI executive tapped to lead work on Oregon climate policies

Published 16:26 on July 28, 2020  /  Last updated at 00:50 on July 29, 2020  /  Americas, Bavardage, Canada, RINs & LCFS, US  /  No Comments

A former RGGI executive director has been hired by Oregon’s Department of Environmental Quality (DEQ) as the state develops a cap-and-reduce programme and a more stringent clean fuel standard under a gubernatorial order.

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