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Weekly Carbon Outlook – Mar 20, 2017

March 20, 2017 by chandan.kumar

(See below to download report)

Trading Report

  • CCAs market at a high as the current front closed at US$61 amid a decline in traded volume
  • The week remained the least liquid week since the start of 2017, With just 952,000 tons traded in total
  • OCA’s Dec 17 benchmark trading at CA$ 18.41 (US$13.77), US$0.02 above the CCA’s

Price Expectations

  • The Front-to-year-end implied funding rate fell to 1.37% from previous week’s high of 1.48%
  • Ontario’s market participants geared up for its first auction to be held on 22nd
  • Expected V17 ranges:$13.59- $13.63 (Front); $13.73- $13.78(2017 Benchmark)

CCO Tracker

  • Over 70K offsets registered with The Climate Action Reserve
  • Forestry projects Passamquoddy Tribe IFM (CAR1175) and Brushy Mountain (CAR1095) beneficiaries of new ROCs
  • Blue Source list first projects outside of Alaska to be listed since 2015 protocol amendments
  • 6 new verification announcements

Policy Tracker

  • AB 151 – It would now no longer  limit the applicability of the cap-and-trade regulation beyond 2020

Key Dates

  • Mar 23 and 24 – ARB Board Meeting to Hear Proposed Updates to Senate Bill 375 Greenhouse Gas Emission Reduction Targets and to Consider the Proposed Regulation for Greenhouse Gas Emissions Standards for Crude Oil and Natural Gas Facilities
  • Apr 06 – ARB Public workshop on the fiscal year 2017-18 funding plan for low carbon transportation investments, air quality improvement program, and potential $25 million Volkswagen settlement funds

Download this report (pdf)

 

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