US judge delays hearing challenging WCI cap-and-trade linkage
A federal judge agreed on Monday to move a pre-trial conference for the US federal government’s Constitutional challenge to the California-Quebec ETS linkage as the Department of Justice (DOJ) considers an amendment to its complaint.
Read MoreRFS Market: RIN prices gap higher on greater refiner demand
US biofuel credits (RINs) surged nearly 15% Monday on reported strong demand from obligated parties despite several uncertainties hanging over the Renewable Fuel Standard (RFS) market.
Read MoreHawaii CO2 tax legislation faces uncertain future amid COVID-19 pandemic
Hawaii legislators’ plans to approve a carbon levy proposal this year are in doubt due to the COVID-19 pandemic, but the economic fallout from the virus outbreak could present an opportunity to raise critical revenue for the tourism-dependent US state, the bill sponsor told Carbon Pulse.
Read MoreWCI compliance holdings grow in Q1 as allowance surplus rises
A bulk of the Q1 WCI auction volume remained in entities’ general accounts amid uncertainty in the secondary market, while regulated parties continued to deposit allowances into compliance accounts for future obligations, according to the California-Quebec programme’s Compliance Instrument Tracking Service System (CITSS) report released on Friday.
Read MoreSpeculators make further cuts to California carbon holdings, data shows
Speculators pared back their California Carbon Allowance (CCA) positions for a third straight week, as compliance entities also saw their holdings decrease amid the March contract expiry date, US Commodity Futures Trading Commission (CFTC) data showed Friday.
Read MoreNA Markets: California prices plummet to $12 on further volatility
California Carbon Allowance (CCA) cratered to $12.00 on Friday morning on more brisk selling, though bargain hunters quickly brought values back close to the previous day’s settlement.
Read MoreWashington’s Puget Sound suspends plan for regional LCFS
Washington’s Puget Sound Clean Air Agency (PSCAA) will halt approval of a low-carbon fuel standard (LCFS) for the greater Seattle area, with the potential of reevaluating the draft clean fuels programme in the future, the regional body announced Thursday.
Read MoreCOMMENT: Five massive drivers of future demand for offsets
Prior to the onslaught of COVID-19, a quick scan of the news each day would reveal that climate change is on the minds of customers and corporates worldwide. Warmer winters with rain where there was once snow, colder weather anomalies due to destabilization of the polar vortex, and summers punctuated by raging fires in both hemispheres make the topic impossible to ignore. And, while new regulatory regimes are cropping up across the globe, voluntary action is on the rise.
Read MoreNA Markets: CCA prices rise after coronavirus-fuelled meltdown, as RGGI recovers
California Carbon Allowance (CCA) prices rose week-on-week for the first time since permits plummeted below the current WCI floor price amid a speculator-led selloff, while RGGI allowance (RGA) prices recovered nearly all of their previous losses seen over the COVID-19 pandemic.
Read MoreUtah GOP approves budget with funding for California ETS lawsuit
Utah Republicans have passed a budget that restores funding for a lawsuit to challenge the legality of California’s cap-and-trade programme and emissions performance standard (EPS), a government spokesperson confirmed.
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