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Analysts see minimal GHG impacts from fossil fuel provisions in US climate bill

Published 21:00 on August 10, 2022  /  Last updated at 21:00 on August 10, 2022  /  Americas, US  /  No Comments

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.

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UPDATE – California’s Newsom proposes tougher 2030 GHG goal, pushing up CCA prices

Published 18:26 on August 9, 2022  /  Last updated at 22:09 on August 9, 2022  /  Americas, Canada, US  /  No Comments

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.

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VCM Report: Standard offset prices pick up to close gap to bespoke market

Published 18:53 on August 8, 2022  /  Last updated at 10:32 on August 11, 2022  /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, Canada, China, EMEA, International, Japan, Mexico, Middle East, Nature-based, South Korea, Switzerland, Uncategorized, US, Voluntary Market  /  No Comments

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.

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ICE to start VCM auctions with 500k reforestation credits

Published 13:00 on August 8, 2022  /  Last updated at 19:01 on August 6, 2022  /  Africa, Americas, EMEA, International, Nature-based, US, Voluntary Market  /  No Comments

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.

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UPDATE – US Senate passes sweeping $430 bln climate bill  

Published 12:14 on August 8, 2022  /  Last updated at 23:23 on August 8, 2022  /  Americas, US  /  No Comments

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.

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US soil carbon startup doubles programme size

Published 23:29 on August 5, 2022  /  Last updated at 16:43 on August 6, 2022  /  Americas, Nature-based, US, Voluntary Market  /  No Comments

A US soil carbon startup is expanding to allow more farmers to earn payments for sequestering greenhouse gases.

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Speculators scoop up V23 CCAs, producers reduce record length

Published 22:51 on August 5, 2022  /  Last updated at 15:29 on August 6, 2022  /  Americas, Canada, US  /  No Comments

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.

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LCFS Market: California LCFS prices consolidate amidst near-term challenges

Published 21:51 on August 5, 2022  /  Last updated at 15:36 on August 6, 2022  /  Americas, RINs & LCFS, US  /  No Comments

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.

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Senator key to passing US climate bill backs Biden

Published 17:39 on August 5, 2022  /  Last updated at 18:52 on August 6, 2022  /  Americas, Carbon Taxes, Paris Article 6, US  /  No Comments

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.

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ANALYSIS: Energy, industrial, and aviation firms tend to pay below-average for carbon credits

Published 14:47 on August 5, 2022  /  Last updated at 15:38 on August 5, 2022  /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, China, China's Offset Market, EMEA, International, Kyoto Mechanisms, Nature-based, Paris Article 6, US, Voluntary Market  /  No Comments

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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