ANALYSIS: California offset sellers see price rebound as others question future demand
California offset prices are seen rebounding this year after being pushed to historic lows by the pandemic and limited compliance buying, but some traders fear emitters may have already procured enough to stunt the market’s future demand.
Read MoreCarbon pricing, international credits can help curb methane emissions from oil and gas, IEA says
A robust global carbon price can help cut the oil and gas sector’s methane emissions together with other market-based mechanisms such as international credits, the IEA said on Monday.
Read MoreBiden administration unlikely to use carbon pricing to hit US climate goals -experts
US President-elect Joe Biden (D) is unlikely to prioritise a federal carbon pricing plan despite the Democrats now controlling the Senate, while the executive and legislative branches may work in tandem to advance other decarbonisation policy goals, a panel heard Friday.
Read MoreWCI compliance entities cut California carbon holdings as financials boost position
Regulated entities unwound their California Carbon Allowance (CCA) holdings for the fifth straight week as speculators bolstered their positions by roughly the same amount, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreTwo more RFS participants argue commodity trader failed to deliver biofuel credits
Two participants in the US Renewable Fuel Standard (RFS) market have filed or sought to intervene in lawsuits that allege a Texas-based commodity shop violated contractual obligations to deliver biofuel credits (RINs), bringing the total number of involved parties to four.
Read MoreCalifornia watchdog urges state to adjust future cap-and-trade supply, alter free allocations
A California oversight committee urged regulator ARB to address the WCI carbon allowance surplus to ensure the state hits its long-term climate goal, while continuing calls to alter industrial allocation and the design of quarterly auctions.
Read MoreUS EPA to solicit comments on RFS general waiver requests
The US EPA indicated Friday that it will solicit public feedback on requests to waive or reduce 2019 and 2020 biofuel blending requirements under the Renewable Fuel Standard (RFS) brought forth by small refiners and oil-state governors last year.
Read MoreUS-based investment bank hires former RGGI compliance trader
A New York-based environmental trader has joined a multinational investment firm after spending the past decade at a RGGI compliance entity.
Read MorePennsylvania can implement RGGI regulation but should seek more stringent path, commenters say
Pennsylvania holds the legal authority to join the RGGI cap-and-trade scheme, according to public comments, but regulators should take steps to increase the stringency of the programme to avoid adversely impacting the Northeast US carbon market and align with possible federal climate mandates.
Read MoreNew Mexico governor prioritises LCFS in 2021 legislative agenda
New Mexico Governor Michelle Lujan Grisham (D) on Wednesday identified a low-carbon fuel standard (LCFS) as one of her priorities for the state’s 2021 legislative session, adding to the state’s roster of possible market-based climate policies.
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