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North American Carbon Market Review: October 2023

October 1, 2023Created By: Megha Jha

Western Climate Initiative: CCA V23 front prices fell by 0.30% over the month, ending at $36.19. California Surpasses Electric Vehicle Charger Milestone at New York Climate Week. CARB’s Upcoming Workshop: Spotlight on Offsets After Unexpected Regulatory Proposals. Regional Greenhouse Gas Initiative: RGGI prices observed an increase over the month, up…...

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European Carbon Market Review: September 2023

September 1, 2023Created By: Shubhangi Sharma

EU ETS: European Union Allowances (EUA) average prices experienced a downward movement over the month, from €86.53 in July to €84.79 in August. The burgeoning presence of renewable energy sources has exerted a distinct bearish influence on EUA prices. UK ETS: United Kingdom Allowances (UKA) monthly average prices experienced a…...

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North American Carbon Market Review: September 2023

September 1, 2023Created By: Mira Dhandra

Western Climate Initiative: CCA V23 front prices rose by 0.17% over the month, ending at $36.26. CARB proposed the removal of around 90% more allowances from the 2021-2030 budget. CARB’s Q3 2023 auction, JA 36 settled at an all-time high clearing price of $35.20. Regional Greenhouse Gas Initiative: RGGI prices…...

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European Carbon Market Review: August 2023

August 1, 2023Created By: Shubhangi Sharma

EU ETS: In July, the European Parliament adopted new rules aimed at boosting energy savings, targeting an 11.7% reduction in EU-level energy consumption compared to the 2020 Reference Scenario.  Fossil fuel-based power generation in the European Union witnesses a significant decline of more than 20% in the first half of…...

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North American Carbon Market Review: August 2023

August 1, 2023Created By: Megha Jha

Western Climate Initiative: CCA front gained $4.58 over the month, ending at $36.73. CARB hosted a workshop on July 27, providing details on cap reduction scenarios, and allowance allocation adjustments. CARB’s estimated budget reduction of 265 million to meet the 48% target is 115 million more than previously expected. The…...

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North American Carbon Market Review: July 2023

July 3, 2023Created By: Megha Jha

Western Climate Initiative: CCA front gained $1.35 over the month, ending at $32.08. CARB’s workshop on program review indicated impending increased stringency and increased allowance prices. California passed a number of key legislations focused on clean energy deployment and environmental justice. Regional Greenhouse Gas Initiative: RGGI prices largely remained steady…...

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North American Carbon Market Review: June 2023

June 1, 2023Created By: Megha Jha

Western Climate Initiative: CCA front gained $0.21 over the month, ending at $30.80. CAISO approved the 2022-2023 Transmission Plan, paving the way for renewable integration and grid reliability. Governor Newsom unveiled California’s ambitious Clean Energy Transition Plan. Regional Greenhouse Gas Initiative: RGGI prices experienced a steady increase through April end…...

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North American Carbon Market Review: May 2023

May 1, 2023Created By: Megha Jha

Western Climate Initiative: The CCA front gained $0.60 over the month, ending at $30.59. California Assembly introduced Bill AB 9, set to update and evaluate the effectiveness of the state’s market-based compliance mechanisms in regulating greenhouse gas emissions by January 1, 2025. Friends of the Earth sued Pacific Gas &…...

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North American Carbon Market Review: April 2023

April 3, 2023Created By: Megha Jha

Western Climate Initiative: The CCA front gained $0.49 over the month, ending at $29.50. The California Energy Commission (CEC) approved a staff analysis recommending the state pursue extending the operation of the Diablo Canyon Power Plant (DCPP) through 2030 to ensure electricity reliability. California and Japan forged ties to develop…...

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North American Carbon Market Review: March 2023

March 1, 2023Created By: Megha Jha

Western Climate Initiative: The CCA front gained $0.40 over the month, ending at $28.30. CARB released the results of the first auction of 2023, held in January (JA #34). The settlement price for the current auction was $27.85 MtCO2 with a bid-to-cover ratio of 1.84. California Senators introduced key climate…...

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