US Carbon Markets and LCFS Roundup for week ending May 19, 2023
A summary of legislative, regulatory, and policy action on carbon, clean fuel standard, and clean energy markets at the US federal and subnational levels this week, including North Carolina’s Senate passing a budget that would block a RGGI-modelled cap-and-trade system, Colorado regulators considering a market-based climate programme for industrial emitters, and New York lawmakers advancing clean fuel standard legislation to the Senate floor.
Read MoreUS DOJ gives California man 40-month prison sentence for biofuel credit fraud
The US Department of Justice (DOJ) on Friday sentenced a Los Angeles resident to 40 months in prison after he pled guilty to wire fraud by selling fraudulent biofuel credits under the Renewable Fuel Standard (RFS).
Read MoreCanada govt watchdog report on steep clean fuel standard costs generates stern rebuke
Canada’s government budget watchdog on Thursday said the impending Clean Fuel Regulations (CFR) will cost some residents over C$1,000 in 2030, though Prime Minister Justin Trudeau’s administration and researchers said the analysis was highly flawed.
Read MoreUPDATE – California legislature declines stronger 2030 GHG goal and LCFS credit restrictions, moves cap-and-trade review to first floor vote
A California legislative committee on Thursday held bills that would have ratcheted up the state’s 2030 GHG reduction target and throttled Low Carbon Fuel Standard (LCFS) crediting from dairy digesters, though lawmakers did send to the floor proposals to review the state’s WCI-linked cap-and-trade programme and implement other climate policies and disclosure requirements.
Read MoreMajor US bank sees upside policy risks ahead for carbon, clean fuels markets
Analysts from a major US bank remain bullish over the medium term for California Carbon Allowance (CCA) prices as balances turn the corner from surplus to deficit, but expect the near-term environment to remain challenged for Low Carbon Fuel Standard (LCFS) credits and voluntary carbon offset (VCO) prices which await policy-driven upside catalysts, in a report published Monday.
Read MoreUS Carbon Markets and LCFS Roundup for week ending May 12, 2023
A summary of legislative, regulatory, and policy action on carbon, clean fuel standard, and clean energy markets at the US federal and subnational levels this week, including the updated status of several carbon market and climate-related California bills, and the Vermont legislature overriding a veto of a bill to draft clean heat standard regulations.
Read MoreCalifornia plans LCFS workshop on automatically strengthening CI targets
California regulator ARB on Thursday announced it will hold a workshop to gather feedback on a potential mechanism to automatically accelerate the carbon intensity (CI) benchmarks set by the transportation sector Low Carbon Fuel Standard (LCFS) programme.
Read MoreRFS Market: Potential delay in ‘e-RINs’ pathway drives up D3 prices to 3-mth high
The price of D3 RINs jumped in recent days following a media report that the US EPA may delay a proposal that would permit electric vehicles (EV) automakers to earn Renewable Fuel Standard (RFS) credits by using renewable electricity produced from biogas.
Read MoreUS Carbon Markets and LCFS Roundup for week ending May 5, 2023
A summary of legislative, regulatory, and policy action on carbon, clean fuel standard, and clean energy markets at the US federal and subnational levels this week, including rescheduled and newly scheduled hearings for California climate and cap-and-trade bills, committee approval of a bill to develop offset projects on Alaska state-owned lands, progress on a Delaware climate bill, and Vermont’s governor once again vetoing clean heat standard legislation.
Read MoreUS EPA’s ‘e-RINs’ proposal faces statutory authority questions, support from rival stakeholders
Federal lawmakers are questioning inconsistencies in the US EPA’s proposed ‘e-RINs’ pathway for renewable electricity supplied to electric vehicles (EVs) to generate Renewable Fuel Standard (RFS) credits, which has drawn renewed support from biogas groups in recent days following reports of possible delays.
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