In This Newsletter
1. Feature :  Deals Q1 2024 report | Analyst Note | May 2024
2. Daily Price Change
3. Carbon & Clean Fuel Market News
4. Upcoming Webinars
5. Latest Insights

On Wednesday, there is no change in CCA prices, an increase of 0.16 in RGGI prices, and a decrease of $0.75 in LCFS prices.

Cap-and-Trade

(CBC)

The Alberta government and the provincial energy regulator are being asked to order an environmental assessment for a massive carbon capture project being planned in the province's north. The request, made by the environmental law charity Ecojustice on behalf of a First Nation and numerous other organizations, said an environmental impact assessment (EIA) is needed to ensure the $16.5-billion Pathways Alliance project will not have significant adverse impacts on the environment, communities and the rights of Indigenous peoples.

(Eurostat)

In the fourth quarter of 2023, EU economy greenhouse gas emissions were estimated at 897 million tonnes of CO2-equivalents (CO2-eq), a 4.0% decrease compared with the same quarter of 2022 (935 million tonnes of CO2-eq). The EU’s gross domestic product (GDP) remained stable, registering just a small increase (0.2% in the fourth quarter of 2023, compared with the same quarter of 2022). In the fourth quarter of 2023, the economic sectors responsible for the largest reductions compared with the fourth quarter of 2022 were electricity and gas supply (- 17.2%) and manufacturing (-3.1%). Emissions by households remained almost stable. 

(California Air Resources Board (CARB))

The May 2024 Joint Auction #39 has been postponed due to technical difficulties and will be rescheduled.

Clean Fuel Standards

(Clean Fuels Alliance America)

25 trade associations representing producers, feedstock providers, blenders, consumers, and retailers of low-carbon, renewable fuels sent a letter to Treasury Secretary Janet Yellen, urging Treasury to finalize and publish guidance for the §45Z Clean Fuels Production Credit as soon as possible. The new credit, adopted in the 2022 Inflation Reduction Act, is designed to incentivize domestic production of low-carbon fuels on a technology-neutral basis. The value of the credit is based on the life-cycle greenhouse gas emission score of each fuel.

(Clean Energy Fuels Corp.)

Clean Energy Fuels Corp., the largest provider of the cleanest fuel for the transportation market, and Maas Energy Works, the nation’s largest dairy digester developer, on May 14 announced a new joint development agreement to build nine renewable natural gas (RNG) production facilities at dairy farms across seven states. This new endeavor will include dairies located in Colorado, South Dakota, Georgia, Florida, Iowa, Nebraska and New Mexico, and will collect the manure from a combined herd size of approximately 35,000 cows preventing the methane emissions from entering the atmosphere.

(White House)

The US president, Joe Biden, has announced a 100% tariff on Chinese-made electric vehicles as part of a package of measures designed to protect US manufacturers from cheap imports.As well as a tariff increase from 25% to 100% on EVs, levies will rise from 7.5% to 25% on lithium batteries, from zero to 25% on critical minerals, from 25% to 50% on solar cells, and from 25% to 50% on semiconductors.

Carbon Offsets

(Verra)

Verra has released Verified Carbon Standard (VCS) Methodology VM0039 Foam Stabilized Base and Emulsion Asphalt Mixtures in Pavement Application, v1.1. This is a revision of VM0039 Methodology for Use of Foam Stabilized Base and Emulsion Asphalt Mixtures in Pavement Application, v1.0, and it constitutes a minor revision under the Methodology Development and Review Process, v4.4. The new version includes a discount factor for upstream emission reductions that result from reduced energy consumption from the mining, processing, and transport of aggregates, as per the VCS Methodology Requirements, v4.4 

(Climate Action Reserve)

At its March 2024 Board meeting, the Climate Action Reserve Board of Directors adopted the U.S. and Canada Biochar Protocol. The protocol provides guidance on how to quantify, monitor, report, and verify climate benefits from the production and use of biochar, which is capable of locking up carbon and keeping it from re-entering the atmosphere for centuries. The protocol credits activities related to the diversion of biomass from business as usual uses, its conversion into biochar, and its application to a durable use that results in the long-term storage of carbon. In addition to direct carbon sequestration benefits, biochar has a growing list of potential co-benefits and ancillary greenhouse gas benefits, including as a soil amendment for improved productivity on agricultural sites, reduced nitrous oxide when applied to soils, or reduced methane emissions from enteric fermentation when used as a livestock feed additive, though the protocol only currently credits for the carbon directly sequestered in biochar.

Copyright © 2024 cCarbon, All Rights Reserved. A product of cKinetics

Unsubscribe from the ListUpdate Subscription Preferences

For more information on the methodology used in computing price data, please visit our website.

Disclaimer: cKinetics is the lawful owner and operator of domain name cCarbon.info. cKinetics has taken due care and caution in compilation and reporting of data as has been obtained from various sources including which it considers reliable and first hand. However, cKinetics does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the users of this report. This research and information does not constitute recommendation or advice for trading or investment purposes and therefore cKinetics will not be liable for any loss accrued as a result of a trading/investment activity that is undertaken on the basis of information contained in this report. cKinetics does not consider itself to undertake Regulated Activities as defined in Section 22 of the Financial Services and Markets Act 2000 and it is not registered with the Financial Services Authority of the UK.