RGGI, Inc. to block Pennsylvania’s Q3 auction volumes next week unless injunction lifted
Market administrator RGGI. Inc will reject the nearly 16 million Pennsylvania-owned allowances from next month’s RGGI auction unless a court-ordered injunction against the programme is temporarily lifted, the state’s Department of Environmental Protection (DEP) said Friday.
Read MoreSpeculators build, emitters trim CCA positions as prices jump
Financial players added to their California Carbon Allowance (CCA) holdings this week ahead of the Q3 WCI auction next week, while regulated entities pared back their positions as prices increased on the secondary market, according to US Commodity Futures Trading Commission (CFTC) data.
Read MoreUS Congress passes largest-ever climate bill after 1.5-year slog
The US House of Representatives on Friday approved Democrats’ $430 billion climate change, healthcare, and tax bill, marking the largest-ever climate bill to pass through the US Congress despite several provisions designed to prop up the fossil fuel industry.
Read MoreMicrosoft increases investments in DAC credits
Technology giant Microsoft has stepped up plans to become carbon negative by 2030 by extending its investment in direct air capture (DAC) company Heirloom Carbon.
Read MoreVER marketplace launches forestry offset project in Canadian provinces
A nature-based climate tech marketplace focused on improved forest management and tonne-year accounting announced its first project outside the US on Thursday, choosing a pair of neighbouring Canadian provinces for the location.
Read MoreCalifornia market participants support tightening LCFS stringency, caution on several ARB proposals
Credit and deficit generators in California’s low carbon fuel standard (LCFS) programme, trade associations, and environmental consultants have urged state regulator ARB to increase LCFS stringency, but cautioned on several ARB proposals in feedback submitted in response to the agency’s July public workshop discussing potential changes to the programme.
Read MoreNA Markets: CCA prices hit 2-mth high on ambitious Newsom climate proposal, RGGI drags
California Carbon Allowance (CCA) prices surged this week on a document outlining Governor Gavin Newsom’s plans to hike the state’s 2030 climate targets and ahead of next week’s Q3 WCI auction, while RGGI Allowances (RGAs) were flat as uncertainty remained regarding Pennsylvania’s allowance volumes for the September auction.
Read MoreCalifornia cap-and-trade review bill proceeds to Assembly floor vote
A California legislative fiscal committee on Thursday advanced a bill to require regulator ARB to conduct a review of allowance oversupply and facility-specific emissions limits in the state’s WCI-linked cap-and-trade programme, with the full Assembly now set to vote on the measure.
Read MoreCalifornia offset issuance inches up, while price discounts widen as WCI allowances surge
California regulator ARB this week distributed much fewer compliance offsets compared to its prior issuance at the end of July, according to government data published Wednesday, while a surge in WCI allowance prices has widened the discount of offset values.
Read MoreWCI 2023 floor price expectations contract as July inflation eases
Next year’s WCI-linked cap-and-trade floor price expectations narrowed after July inflation reversed course following months of substantial increases, according to federal data published Wednesday.
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