cCarbon Daily Digest

13th September 2024

FEATURE

Feature: California Carbon Offsets (CCO) 2040 Price Forecast

This comprehensive analyst note builds upon our previous iterations in exploring the evolving dynamics of the California Carbon Offset (CCO) market, as well as projections on where the market can head. This latest update includes an extended forecast reaching to 2040, in order to provide a long-term perspective on the market, as well as incorporates various new scenarios based on potential policy and regulatory changes. Our enhanced methodology, particularly regarding forestry projects, ensures a more nuanced projection of supply, demand and price trends for both DEBs and Non-DEBs. The note aims to serves as an essential resource for stakeholders navigating the complexities, as well as evaluating future opportunities within the WCI CCO market.

NEWS HIGHLIGHTS

Cap-and-Trade

Commerce Invests $37 Million in 46 Clean energy Projects Across Washington State

The Washington State Department of Commerce today announced 46 grants funded by the Washington Climate Commitment Act with additional state funding to boost clean energy technology innovation and support clean energy planning, design and construction projects throughout the state.

Nordic-Baltic Hydrogen Corridor: Gas Transmission Operators Complete Pre-Feasibility Study

The Gas Transmission System Operators (TSOs) of Finland, Estonia, Latvia, Lithuania, Poland, and Germany’s Ontras have successfully completed a pre-feasibility study of the Nordic-Baltic Hydrogen Corridor (NBHC).

Carbon Offsets

Northern Trust Launches Digital Solution for Institutional Voluntary Carbon Credits with First Official Live Transactions

Northern Trust (Nasdaq: NTRS) has announced the formal launch of The Northern Trust Carbon Ecosystem™ with the first live transactions on the blockchain-based platform which enables institutional buyers to digitally access carbon credits from leading project developers.

Occidental's 1PointFive Secures Funding of up to $500 M from US DOE

Occidental Petroleum's (OXY.N), opens new tab carbon capture and sequestration unit 1PointFive said on Thursday that the U.S. Department of Energy's Office of Clean Energy Demonstrations has committed up to $500 million to support the development of its South Texas Direct Air Capture (DAC) Hub.

Sustainable Fuels

SK Energy to Start Sustainable Aviation Fuel (SAF) Commercial Production

SK Energy, the largest refiner in South Korea and a subsidiary of SK Innovation, announced today the completion of the nation’s first dedicated Sustainable Aviation Fuel (SAF) production line.

Gevo to Acquire Red Trail Energy Assets in North Dakota, Including Operating Low-Carbon Ethanol Production and Carbon Sequestration Facilities, Expanding Platform for Sustainable Aviation Fuel, Hydrocarbons, and Chemicals

Gevo, Inc. (NASDAQ: GEVO), a leading developer of net-zero hydrocarbon fuels and chemicals, is pleased to announce that it has entered into a definitive agreement to acquire the ethanol production plant and carbon capture and sequestration (“CCS”) assets of Red Trail Energy, LLC (“Red Trail Energy”) for $210 million