Financial entities, emitters’ California carbon positions stagnate as prices hit 7-mth high
Speculators and compliance entities held their California Carbon Allowance (CCA) length mostly firm over the past week as neither side dramatically altered their positions, US Commodity Futures Trading Commission (CFTC) data showed Friday.
Read MoreTraders foresee limited near-term California LCFS price impacts from US election result
Market participants do not anticipate California Low Carbon Fuel Standard (LCFS) credit prices to immediately react once the results of next month’s US presidential election are known, although a win by Democratic nominee Joe Biden coupled with other factors could have bearish implications in the long term.
Read MoreEnvironmental groups, legislators urge stronger post-2020 RGGI caps for New York
New York’s proposed RGGI CO2 budgets over the next decade should be updated to align with the state’s long-term climate goals, and the government should set a lower minimum threshold for units to be regulated under the power sector cap-and-trade programme, environmental groups and lawmakers wrote in public comments.
Read MoreNA Markets: RGGI prices attain new high, as California carbon values dip on thin volume
RGGI allowance (RGA) prices inched up to four-year highs on the secondary market this week as traders shifted positions further out on the curve, while California Carbon Allowance (CCA) values dropped slightly on thin volume.
Read MoreRFS Market: RIN prices hit new 2020 high as GOP calls for waiver
US biofuel credit (RIN) values surged to a new annual high on Wednesday, while Republican senators asked the EPA to not increase the 2021 biofuels quota under the Renewable Fuel Standard (RFS) due to the lingering economic effects of the coronavirus pandemic.
Read MoreChile, Quebec cooperating on carbon market expertise, offset protocols
Chile and Quebec have held numerous discussions to share technical information on the Canadian province’s WCI-linked cap-and-trade programme and offset protocols with a view to potentially developing closer market ties over time, a government official for the South American country said Thursday.
Read MoreCalifornia gasoline demand rises in August, as YoY pace slows for second straight month
California fuel consumption inched up slightly in August even as the year-on-year trend widened for the first time since April, according to federal data released this week.
Read MoreUS election result unlikely to derail TCI carbon market, while RGGI linkage may hinge on consensus
The Transportation & Climate Initiative (TCI) would not halt its plan for a regional cap-and-trade system if Democratic nominee Joe Biden is elected president next month, while New Hampshire’s opposition to the proposed sectoral carbon market could thwart a linkage with RGGI, a workshop panelist said Wednesday.
Read MoreUS needs more besides carbon pricing to spur GHG cuts -report
The US will need complementary policies to drive long term deep decarbonisation because a federal carbon tax over the next decade would concentrate near-term emissions cuts within the electricity sector, according to a report published Tuesday.
Read MoreRGGI preliminary Q3 emissions data shows gains during heatwave, COVID-19 pandemic
Third quarter emissions in the Northeast US RGGI cap-and-trade programme rose year-on-year, according to preliminary data, with market participants not anticipating CO2 output to decline significantly due the COVID-19 pandemic.
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