InterContinental Exchange (ICE): With the slump in global markets, California Carbon Allowance (CCA) futures prices continued to fall in the first three days of trade last week with an average of 19 cents on Monday (March 7th) and 33 cents on Wednesday, before stabilizing to an extent. This can be likely attributed to the impact of the Coronavirus on global markets.
However, market participation with respect to weekly volumes reached an astounding 56.3 million tons; one of the highest weekly volumes witnessed on the ICE and much above last year’s average. This can be reasonably attributed to market participants taking advantage of falling prices. Read full article...
"...At the 2015 United Nations Climate Change Conference in Paris, countries set goals that require halving carbon emissions by 2030. In a new piece in Nature, Professor Harald Winkler, as part of an international team, delivers the bad news that the emissions gap — between what countries pledged to then and what needs to be done now — is growing. He also points to small signs of hope that the climate crisis can still be addressed..."
"...Governments should act with the same urgency on climate as on the coronavirus, leading campaigners say, as evidence mounts that the health crisis is reducing carbon emissions more than any policy..."
Offset Scorecard: Forestry projects dominate latest CCO issuances|| March’s first issuance event was the highest of the year so far, as around 1.7 million credits were issued this week to five projects, with a bulk of the credits coming from 2 Avoided Conversion forestry projects. The other projects to receive offset credits were two California based IFM projects and a single ODS project.
Over 50% of this week’s credits came from Green Asset’s HMWCF-I Avoided Conversion Project (ACR268), as it was issued around 898k credits from its third reporting period with just under 100k credits held in the buffer pool. Another project by the same developer HMWCF-II Avoided Conversion Project (ACR 269), also saw a significant 386k (43k buffered) issued this week. Read full article...
