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Upcoming Webinar | WCI Auction Outlook: Expectations for Joint Auction 24

July 29, 2020Created By: Anant Jain

CaliforniaCarbon.info is hosting a webinar on ‘WCI Auction Outlook: Expectations for Joint Auction 24’ Date: 12th August 2020 Time: 10 am Pacific Time (US and Canada) Webinar Agenda Historical overview Trends in the secondary market Instruments in compliance accounts Auction supply-demand Expectations: Joint Auction 24 Implications for state revenues This…...

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Weekly Commentary: District Court approves linkage to defy Trump’s attack on WCI program, CCAs see steady price gain

July 20, 2020Created By: Anant Jain

Summary: Federal challenge to legality of California-Quebec Linkage is quashed by District Court, appeal likely to be lodged but not decided on before November elections.  ICE secondary market front V20 Jul20 gains $0.09 WoW closes at $16.89, despite weak interest Benchmark positions continue to shrink, down by 2.12M tons or…...

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Regulatory Round-up: ARB Hearing on Proposed Advanced Clean Trucks Regulation

July 6, 2020Created By: Isabel Welling

Key Takeaways The Advanced Clean Trucks (ACT) regulation is a follow up to the Advanced Clean Cars II (ACCII) regulations proposed and approved at the May 28th, 2020 California Air Resources Board (CARB) meeting. The are three key objectives of ACT: Foster and accelerate large-scale production of zero-emission trucks, ensure…...

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Exclusive Interview: David Pettit, Senior Attorney at NRDC, discusses the tailpipe emissions case, and the CAFE standards rollback case filed against EPA and NHTSA

June 23, 2020Created By: Anant Jain

Summary: The federal government seeks to remove California’s entitlement to a waiver under the Clean Air Act, thereby disallowing the state to decide its tailpipe standards for GHGs. California has received 108 waivers for criteria pollutants from tailpipes, but according to the feds, GHGs cannot be considered under the waiver…...

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After Auction Review – May, 2020

June 9, 2020Created By: Anant Jain

California state revenue shrinks from USD 612 million to USD 24.9 million causing significant loss for the Greenhouse Gas Reduction Fund 85% of Utility consigned allowances sold causing a reduction in Utility revenue by USD 80.5 million 26.87 million allowances withheld until two successive oversubscribed auctions CaliforniaCarbon.info, June 9th, 2020:…...

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Regulatory Round-up: Provisional Advanced Clean Car regulations for post-2025 vehicles

June 5, 2020Created By: Isabel Welling

Key Takeaways Future Advanced Clean Car II (ACCII) regulations are a key policy plank to reduce emissions from the light-duty vehicle sector. There are three components of ACCII: Low Emission Vehicle (LEV) Criteria focusing on air quality improvements, LEV GHG -GHG reductions, and ZEV -technology advancement. Despite last week’s approved…...

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WCI Auction Summary: JA 23 |Bidders Observe Shelter-in-place Order as Auction Undersubscribes

June 1, 2020Created By: Anant Jain

For the first time in the current compliance period, the current auction and the advance auction were under subscribed. The settlement price for the current auction was $16.68 MtCO2e (CAD 23.17) with a bid to cover ratio of 0.37. The advance auction settled at a price of $16.68 (CAD 23.17)…...

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Offset Scorecard: Modest ARBOC issuance this week; 50k credits transitioned to lower risk CCO-3s

May 28, 2020Created By: Abhilasha Fullonton

A modest 401k credits were issued by ARB this week, a stark contrast to  the previous issuance (see fig. below). A total of 6 projects were issued ARB credits along with reduction of invalidation period for 9 reporting periods, out of which 8 were early action.  The highest issuance of the week went…...

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Exclusive Interview: Graham Noyes on the resilience of the LCFS market amidst COVID-19, and how it’s becoming a dependable revenue stream

May 15, 2020Created By: Abhilasha Fullonton

Key takeaways: ● Forecasted credit deficits contributed to sustained credit purchasing through the impact of COVID-19 on LCFS market. ● Stability of credit prices is very reassuring both for credit generators and investors . ● Potential for linkage opportunities with LCFS in the short-term is unlikely. Expert Profile Graham Noyes…...

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Weekly Commentary: Healthy trading activity as ICE front continues ascent towards auction floor

May 11, 2020Created By: Anant Jain

Total weekly volume increases by 17.5% Week over Week (WoW) Front price closes at $16.42 per metric ton CO2e. V20 Jan 21 at $16.69 breaches the price floor Positive outlook: Increase in net long positions by financial entities and compliance entities CaliforniaCarbon.info, May 11th, 2020: On Friday (8th May), the…...

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