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UPDATE – LCFS Market: California prices roar back despite quarterly credit build

Published 15:37 on May 6, 2021  /  Last updated at 20:41 on May 6, 2021  /  Americas, RINs & LCFS, US  /  No Comments

California Low Carbon Fuel Standard (LCFS) rebounded towards a one-month high this week even after the programme posted its highest quarterly credit surplus in four years.

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Verra, Greenpeace square off over criticism of forest carbon credit methodologies

Published 23:14 on May 5, 2021  /  Last updated at 23:14 on May 5, 2021  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, Climate Talks, EMEA, International, New Market Mechanisms, Other APAC, REDD, South & Central, US, Voluntary Market  /  No Comments

Standard-setting body Verra this week accused Greenpeace of misrepresenting its forest carbon offset methodologies and cherry-picking expert opinions to undermine the credibility of its REDD+ projects in two recent articles.

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Weak benchmarks to limit Washington LCFS impact in early years, traders say

Published 22:44 on May 5, 2021  /  Last updated at 22:44 on May 5, 2021  /  Americas, RINs & LCFS, US  /  No Comments

More lenient carbon intensity benchmarks at the outset of Washington state’s recently passed low-carbon fuel standard (LCFS) will limit the impact of the programme until the latter half of this decade, traders said.

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Pennsylvania publishes draft final RGGI regulation with 2022 contingency plan

Published 16:45 on May 5, 2021  /  Last updated at 23:48 on May 5, 2021  /  Americas, US  /  No Comments

Pennsylvania released a draft final RGGI regulation on Tuesday that maintains its initial CO2 cap levels criticised as weak by academics, and publishing a 2022 contingency plan amid fervent opposition to the power sector cap-and-trade programme from Republican lawmakers.

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US HFC rule could impact voluntary offset projects, narrow future compliance protocol expansion

Published 15:01 on May 5, 2021  /  Last updated at 15:01 on May 5, 2021  /  Americas, Canada, International, US, Voluntary Market  /  No Comments

The US EPA’s proposed regulation to reduce high-global warming potential HFCs could impact voluntary offset initiatives in the short term, as well as limit expansion options for California regulator ARB’s ozone-depleting substance (ODS) protocol, market participants said.

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IncubEx fundraise values environmental markets platform at $161 mln ahead of London IPO

Published 23:53 on May 4, 2021  /  Last updated at 00:27 on May 5, 2021  /  Americas, Bavardage, EMEA, EU ETS, International, Kyoto Mechanisms, New Market Mechanisms, New Zealand, RINs & LCFS, UK ETS, US, Voluntary Market  /  No Comments

Environmental markets platform IncubEx has raised $11.7 million in its latest fundraising round, valuing the company at $161 mln ahead of an expected IPO in London later this year.

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ANALYSIS: California issuing offset credits more quickly, as developers worry about upcoming compliance deadline

Published 23:07 on May 4, 2021  /  Last updated at 23:07 on May 4, 2021  /  Americas, Canada, US  /  No Comments

State regulator ARB is approving California Carbon Offsets (CCO) in a speedier fashion this year, data shows, though developers are pushing for even faster issuances before the cap-and-trade programme’s fall compliance deadline.

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RFS Market: US biofuel credits rack up new record as EPA seeks to vacate last-minute waivers

Published 17:40 on May 4, 2021  /  Last updated at 23:14 on May 4, 2021  /  Americas, RINs & LCFS, US  /  No Comments

US biofuel credit (RIN) values skulled to a fresh all-time high on Tuesday, as commodity prices continued to soar and the EPA sought to overturn several Renewable Fuel Standard (RFS) waivers given out in the final hours of former President Donald Trump’s tenure.

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New Paris climate pledges to help cut projected warming to 2.4C -scientists

Published 11:54 on May 4, 2021  /  Last updated at 11:54 on May 4, 2021  /  Africa, Americas, Asia Pacific, Australia, Canada, China, EMEA, International, Japan, Mexico, Middle East, New Zealand, Other APAC, South & Central, South Korea, US  /  No Comments

The new climate pledges announced during April’s US-led climate summit are projected to put the world on track for global warming of 2.4C above pre-industrial levels, a report published Tuesday showed, reflecting a drop from 2.6C previously but still far off the Paris Agreement’s 1.5-2C goals.

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VCM Report: VER prices slide further, while corresponding adjustment guidance exerts few impacts

Published 23:04 on May 3, 2021  /  Last updated at 23:07 on May 3, 2021  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, Canada, China, China's Offset Market, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, Other APAC, REDD, South & Central, US, Voluntary Market  /  No Comments

Voluntary emissions reduction (VER) prices trended down this week outside of nature-based offerings, while participants reported few direct pricing or liquidity impacts from Verra’s recent guidance to not require corresponding adjustments for voluntary carbon market (VCM) transfers.

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