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ClearBlue Predicts Market will be Short during its First Compliance Period

September 22, 2017

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Canadian large emitter programme may experience offset supply dearth for 2019 -analysts

October 23, 2019

Canada’s ‘backstop’ output-based pricing system (OBPS) may not have an adequate supply of offsets available before next year’s inaugural compliance deadline, stemming from the slow rollout of federal and provincial protocols, a conference heard Tuesday.

 

“We’ve been working on this supply and demand analysis to show the federal government that … you’ve put this federal programme in place with offsets as a possibility, but you’ve created no supply,” said Michael Berends, managing director of origination for Toronto-based analysts ClearBlue Markets, during the Argus Biofuels and Carbon Markets Summit in Napa, California on Tuesday.

 

ClearBlue’s updated OBPS supply-demand forecast presented Tuesday found that the programme will be short 7.33 million tonnes of CO2e in 2019, up slightly from their 6.5 Mt-estimate earlier this year.

 

For 2022, that short position would edge lower to 4.89 Mt, though still more than double the analysts’ projection from this January.

 

Read the Full Carbon Pulse Article Here

 

 

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