Analysts see minimal GHG impacts from fossil fuel provisions in US climate bill
Provisions designed to tether fossil fuel leasing with renewable energy development in the US Inflation Reduction Act (IRA) will only slightly undermine the sizable GHG reductions expected from other components of the climate package, analysts said Wednesday.
Read MoreUPDATE – California’s Newsom proposes tougher 2030 GHG goal, pushing up CCA prices
California Governor Gavin Newsom (D) has called for lawmakers to ratchet up the ambition of the state’s 2030 GHG reduction target, according to a document circulated to legislators this week and seen by Carbon Pulse, which sent California Carbon Allowance (CCA) prices to a two-month high on Tuesday.
Read MoreVCM Report: Standard offset prices pick up to close gap to bespoke market
The market turned a corner at the end of the week, with standard offsets prices jumping higher to close the gap on a bespoke market that has been more successful in resisting the bearish trend.
Read MoreICE to start VCM auctions with 500k reforestation credits
The Intercontinental Exchange (ICE) is hosting auctions of voluntary carbon market (VCM) credits for the first time, starting with sales of half a million US reforestation offsets, it announced Monday.
Read MoreUPDATE – US Senate passes sweeping $430 bln climate bill
The US Senate passed a $430 billion climate change, healthcare, and tax bill late on Sunday, paving the way for a major uptick in the nation’s climate action following a House vote expected this week.
Read MoreUS soil carbon startup doubles programme size
A US soil carbon startup is expanding to allow more farmers to earn payments for sequestering greenhouse gases.
Read MoreSpeculators scoop up V23 CCAs, producers reduce record length
Financial participants increased their California Carbon Allowance (CCA) futures-only holdings but reduced their combined futures and options holdings in the latest reporting period, while compliance entities offloaded allowances, according to US Commodity Futures Trading Commission (CFTC) data.
Read MoreLCFS Market: California LCFS prices consolidate amidst near-term challenges
Faced with a plethora of negative catalysts, California’s Low Carbon Fuel Standard (LCFS) credit prices appeared to consolidate as they approached early June lows this week, while some buyers remain.
Read MoreSenator key to passing US climate bill backs Biden
US Senator Kyrsten Sinema (D) is considered the final piece to the puzzle of passing a sweeping climate change, healthcare, and tax reform bill called the Inflation Reduction Act (IRA), and she’s signed on to vote in favour.
Read MoreANALYSIS: Energy, industrial, and aviation firms tend to pay below-average for carbon credits
Companies active in the energy, heavy industry, and aviation sectors tend to pay below-average for their carbon offsets, according to retirement data collated by a climate analytics firm, while car manufacturers and tech firms have historically purchased credits at a higher price than most others.
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