Jan. 11, 2012 California expects $1 billion from carbon sales According to California’s 2012-2013 budget, the state will reap over $1 billion in net revenue from the sale of carbon allowances in its cap-and-trade carbon market. Governor Jerry Brown initially went with a conservative estimate that the market would yield $650 million in the first
Read moreJan. 9, 2012 Record breaking week for California carbon Last week saw a huge increase in market activity as 405,000 California carbon allowances (CCAs) were traded on the Intercontinental Exchange (ICE). 260,000 CCAs were exchanged on Thursday alone, breaking the previous single-day record of 240,000. The price for CCAs dropped to $15.40 in response to
Read moreJan. 4, 2012 Ithaca NY, Austin TX use 100% renewable energy Ithaca NY, has announced that it will join Austin, Texas as one of only a handful of cities that uses electricity solely generated from renewable sources. Ithaca will begin buying Green Energy certified renewable energy certificates for all of the electricity it uses beginning
Read moreJan. 3, 2012 California court ruling could tighten carbon cap, raise price A court ruling opposing California’s Low Carbon Fuel Standard (LCFS) law may result in a stricter cap for the state’s carbon market. The LCFS calls for a 10% reduction in carbon content in gasoline by 2020. Federal Judge Lawrence O’Neill ruled that the
Read moreDec. 30, 2011 60,000 allowances trade at $16.50 in California In the final week of 2011, California carbon allowances (CCAs) accepted for use in the state’s cap-and-trade carbon market saw prices rise from the previous week to reach $16.50 a piece. The carbon market rebounded from a slow holiday slump which saw only 1,000 CCAs
Read moreDec. 30, 2011 60,000 allowances trade at $16.50 in California In the final week of 2011, California carbon allowances (CCAs) accepted for use in the state’s cap-and-trade carbon market saw prices rise from the previous week to reach $16.50 a piece. The carbon market rebounded from a slow holiday slump which saw only 1,000 CCAs
Read moreDec. 28, 2011 Facebook hires Google’s green director Facebook has hired former Google sustainability director Bill Weihl to improve the overall efficiency of their operations. Weihl has been brought on to shift Facebook towards renewable energy sources. A past study showed that the energy used in Facebook’s server warehouses were largely generated from heavy emitting
Read moreDec. 25, 2011 California carbon trades at $16 Although market action was quiet this week, 1,000 California carbon allowances (CCAs) traded on the Intercontinental Exchange (ICE) for $16 a piece. These figures fall in line with a Thompson Reuters study that forecasted a floor price of $15-17 for CCAs in the first two years of
Read moreDec. 22, 2011 Energy companies await California market Early next year the California Public Utilities Commission (PUC) will approve rules determining how large public energy companies will be able to buy and sell carbon offset allowances in the state’s cap-and-trade market. Pacific Gas & Electric, Southern California Edison, and San Diego Gas & Electric are
Read moreDec. 21, 2011 New Zealand carbon market spurs forest growth In response to the nation’s carbon market, New Zealand saw an increase of 27 percent in forest plantings this past year. According to the Ministry of Forestry, New Zealand saw 48,000 hectares planted to offset timber harvests, with another 12,000 hectares planted specifically planted to
Read moreDec. 20, 2011 Quebec joining California in carbon market Quebec has adopted regulations to begin a cap-and-trade carbon market in 2013, with plans to merge with California’s market in the Western Climate Initiative (WCI). Quebec’s carbon market will be part of an overall initiative to reduce emissions by 15 percent below 2005 levels by 2020.
Read moreDec. 19, 2011 California carbon auction forecasts $650 mil revenues California will auction 65 million carbon allowances to supply the state’s economy-wide cap-and-trade carbon market set to launch next year. With a floor price of $10, that amounts to $650 million in revenue for the state. While Governor Jerry Brown has included the revenue in
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