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Market News


Wednesday, March 28, 2012
BGC Update: Lawsuit Filed against CARB related to Offset Rules under AB32 -
Tuesday, March 27, 2012
BGC Carbon Market Update: ARB Chairman Mary D. Nichols Announcement -
Tuesday, March 20, 2012
Determination of Philadelphia Area PM2.5 Attainment Status -

Due to adverse comment, the EPA is withdrawing their proposed determination that the Philadelphia Area attained the 1997 annual PM 2.5 national ambient air quality standard (NAAQS) by its attainment date of April 5th, 2010. The Philadelphia Area is comprised of the New Castle County in Delaware; Burlington, Camden, and Gloucester Counties in New Jersey; and Bucks, Chester, Delaware, Montgomery, and Philadelphia Counties in Pennsylvania.

Please follow the link below for more information on this matter:
https://www.federalregister.gov/articles/2012/03/13/2012-5880/approval-and-promulgation-of-air-quality-implementation-plans-delaware-new-jersey-and-pennsylvania

For more information on this and other environmental markets please contact us at 646.346.6899

Thursday, March 15, 2012
BGC Update: Public Comments Released on PUC Proposed Decision -
Wednesday, February 22, 2012
EDC Auction Starting Price and Final Number Announcement -
Wednesday, February 22, 2012
CA Public Utilities Commission Releases Proposed Decision on Utility Greenhouse Gas Procurement Procedures -
CA Public Utilities Commission Releases Proposed Decision on Utility Greenhouse Gas Procurement Procedures On February 21, 2012, the California Public Utilities Commission (PUC) released their proposed decision related to greenhouse gas procurement processes for utilities. In their proposed decision, Pacific Gas and Electric Company, Southern California Edison Company and San Diego Gas & Electric Company are authorized to procure both offsets & allowances with restrictions on the ways in the which they can participate in the market. For allowances, the utilities will be allowed to participate in Air Resources Board (ARB) run auctions, structure forward contracts and procure via PUC approved exchanges. They will not be allowed to enter into options or swaps transactions based on the proposal at this time. This may be reconsidered in the future as the market develops. Utilities will also be authorized to procure ARB-certified offsets up to the 8% limit, but only if the Seller assumes the liability of invalidation. Any desire to procure compliance instruments via the open market will have to be done via a request for offer process.  Utilities will also be granted the right to resell contingent on PUC approval. In an effort to prevent over-buying, the PUC has placed minimum and maximum purchase limits on the utilities set as follows:  For the 2013-2014 Period                              For the 2015-2017 Period    2012: 10% - 60%                                                N/A - 10%    2013: 30% - 90%                                                5% - 20%    2014: N/A - 110%                                              10% - 40%    2015:                                                                   20% - 60% The proposed decision is open for public comment. Comments may be submitted to the PUC via email to pva@cpuc.ca.gov. Should you like to discuss the proposed decision or the potential impacts on the marketplace, please give your BGC broker a call at 646.346.6899.    
Wednesday, February 08, 2012
EPA Makes Minor Revisions To CSAPR -
Monday, January 30, 2012
BGC - California Cap & Trade Update -
Tuesday, January 10, 2012
EPA Reinstates All CAIR Allowances -
Monday, January 09, 2012
California Cap & Trade Announcement from ARB -
California Cap & Trade Announcement from ARB An Announcement from The California Air Resources Board... The California Air Resources Board (ARB) is providing an online registration form for covered entities to register for the cap-and-trade program as required by the California Cap on Greenhouse Gas Emissions and Market-Based Compliance Regulation.Under the regulation, entities that meet the requirements to be designated as “covered entities” must register for the cap-and-trade program by January 31, 2012. The information provided by registrants is needed to initiate the regulatory relationship between ARB and entities subject to the cap-and-trade regulation. This information will also be used to communicate important regulatory and implementation information with the covered entities. Voluntary market participants may also use the form to register for the program, but they are not subject to the January 31, 2012 deadline. The form and supporting documentation may be accessed from the ARB website at: http://www.arb.ca.gov/cc/capandtrade/registration/registration.htm Guidance to help facilities determine if they are designated as a “covered entity” is available at: http://www.arb.ca.gov/cc/capandtrade/registration/registration-guidance.pdf Additional information about the cap-and-trade program and regulation can be accessed from our website at: http://www.arb.ca.gov/cc/capandtrade/capandtrade.htm *Update on Compliance Instrument Tracking System Service* ARB staff is also developing the Compliance Instrument Tracking System Service (CITSS) to support the cap-and-trade regulation. CITSS will provide accounts for market participants to hold and retire compliance instruments (allowances and ARB offsets), and to participate in transactions of compliance instruments with other account holders. Registration in the CITSS will be available by spring of 2012. Staff will provide training on the system and details as part of the CITSS registration process. For Information on the California Carbon Markets, please contact BGC at 646.346.6899.  
Thursday, January 05, 2012
EPA Proposes to Approve SCAQMD's Rule 317 -
EPA Proposes to Approve SCAQMD's Rule 317 EPA announces their proposed adoption of South Coast Air Quality Management District's Clean Air Act Non-Attainment Fee Rule 317. EPA will accept comments on the proposal for 30 days once publication in the Federal Register has occurred. If you would like to submit comments, please visit www.regulations.gov and search by docket number EPA-R09-OAR-2011-0876. If you have any questions about the RECLAIM or South Coast ERC markets, please give us a call at 646.346.6899.
Tuesday, January 03, 2012
Welcome Back & Happy New Year! -
Welcome Back & Happy New Year! Good morning and Happy New Year! We hope this email finds you relaxed from a long weekend. As the year came to a close we were reflecting on the regulatory and market happenings of 2011. What a year it was and the courts certainly wanted it to end with a bang. If you have not had a chance to read the announcement regarding the court's decision on the Low-Carbon Fuel Standard in our December Market Report, please give us a call at 646.346.6899 and we'd gladly walk you through it and the potential implications on the California carbon cap and trade program. Thank you again for your business in 2011. We look forward to working with you on your carbon, ERCs and RECLAIM needs in 2012.  
Tuesday, January 03, 2012
Court Stays CSAPR Program -
Friday, December 30, 2011
CSAPR: Court Rules to Stay pending review of petitions -
Wednesday, December 21, 2011
BGC Update: Final Mercury and Air Toxics Standards (MATS) for Power Plants -
Friday, December 16, 2011
AIR v. CARB Appellate Court Update -
AIR v. CARB Appellate Court Update Association of Irritated Residents et al. v. California Air Resources Board et al. Case: A132165, 1st District, Division 3 Disposition date: 2011-12-15 Disposition description: Voluntary dismissal Disposition status as of 2011-12-15: Partial Notes: BY THE COURT: Upon due consideration of the request to dismiss appeal filed on December 8, 2011, the request is granted and the appeal filed by defendants and appellants California Air Resources Board et al. is dismissed. The appeal filed by plaintiffs and appellants Association of Irritated Residents et al. shall proceed. For information on the Carbon Markets, please contact BGC at 646.346.6899
Wednesday, December 14, 2011
BGC EBS Update: California Formally Approves AB 32 Cap and Trade Rule for January Start -
Thursday, October 20, 2011
BGC Breaking News: California Air Resources Board Passes AB 32 Cap and Trade Program -
Monday, October 17, 2011
Environmental Finance Magazine Annual Survey -
Friday, October 14, 2011
BGC EBS California Regulatory Update: AB 32 Cap & Trade and Draft RPS Rule -
Thursday, October 06, 2011
BGC EBS Breaking News: EPA Proposes Changes to Cross State Air Pollution Rule -
Thursday, October 06, 2011
BGC EBS Breaking News: EPA Proposes Changes to Cross State Air Pollution Rule -
-- /1,800 CSAPR NOx Seasonal 2012 100 1,000/2,500 Contact Your BGC Broker for More Information BGC Environmental Brokerage Services will continue to keep you updated on developments and details on this fast-moving regulation. For more details, please contact your BGC Environmental Brokerage Services broker at 646.346.6899.
Thursday, September 29, 2011
BGC EBS Breaking News: California Supreme Court Upholds AB 32 Cap and Trade Program -
Tuesday, September 13, 2011
BGC EBS California Emission Markets Regulatory Update -
Tuesday, September 13, 2011
BGC EBS California Emission Markets Regulatory Update -
te the risk of activity-shifting and/or market-shifting leakage;” [95972(a)(4)] • Requirements for Offset Projects Using ARB Compliance Offset Protocol: Clarification that early action offset projects transitioning to Compliance Offset Protocols may have an earlier offset project commencement date: “Early Action Offset Project Commencement Date. Offset projects that transition to Compliance Offset Protocols pursuant to section 95990(k) may have an Offset Project Commencement date before December 31, 2006.” [95973(a)(2)] • Deadlines for CARB approval of an Offset Project: Within 45 calendar days, CARB will determine whether the GHG emission reductions and GHG removal enhancements meet the requirements of section 95981(a), the information submitted in sections 95981(b) and (c) is complete, and the Positive Offset or Qualified Positive Offset Verification Statement meets the requirements of 95977, 95977.1, and 95977.2. • Process for Issuance of ARB Offset Credits: After CARB determines whether an offset project is administratively complete, the agency will have 15 days after its determination to issue CARB offset credits. Also, CARB shortened the time period from 30 to 15 days for the agency to notify project operators that the information they submitted was incomplete and request additional information. This change was made in response to stakeholder comments that the process for the ultimate issuance of ARB offset credits was too lengthy. [95981.1(d)] • Invalidation of ARB Offset Credits. o Timeframe: Clarifies the timeframes in which ARB may invalidate ARB offset credits. o Overstatement of Reductions: New description of the process by which CARB would determine if there was an overstatement in the number of GHG emission reductions and GHG removal enhancements that were credited with ARB offset credits. This includes a notification process and identifies which information CARB will look at to determine if there was an overstatement. [95985(c)(1)(A), through (c)(1)(C)(3)] o ODS Invalidation: The statute of limitations was changed from five years to three years for ozone depleting substances projects, because ARB feels that three years is sufficient time for any new information regarding an Offset Project Data Report for that project type to be discovered. [95985(b)(1)(A)]. o Forestry, Ag Methane and Urban Forestry Invalidation: These new provisions clarify that offset projects developed under the other three Compliance Offset Protocols may also qualify for a three year statute of limitation if a different verification body verifies a subsequent Offset Project Data Report from that offset project within three years. [95985(b)(1)(B)] o Forestry Invalidation and Reversals: New section was added to clarify that reversals for forest offset projects do not trigger an invalidation and reversals will be handled according to section 95983. This provision was added to alleviate stakeholder concerns that any reversal would trigger invalidation and that the forest owner would have to double compensate for those tonnes. [95985(c)(4)(B)] o Blocking Transfers: New language was added to immediately block any transfers of CARB offset credits after CARB makes an initial determination to investigate the applicable Offset Project Data Report. This provision will prevent the holders of potentially invalidated CARB offset credits from transferring them (and any associated replacement liability) to other unwitting parties. [95985(d)] o Partial Offset Invalidation: If ARB invalidates only a portion of the ARB offset credits from an Offset Project Data Report, ARB must determine how many and which ARB offset credits to remove from each parties Compliance and/or Holding Accounts. The formula in section 95985(g)(1)(A)(1.) will be used to determine how many ARB offset credits will be removed from the accounts of the affected parties, and section 95985(g)(1)(A)(2.) will be used to determine which ARB offset credits will be removed from the accounts of the affected parties. [95985(g)(1)(A) and (g)(1)(B)]. o Replacement of Invalidated Offsets: New requirement that the parties identified in section 95985(e)(2) must replace the ARB offset credits within six months of being notified by CARB. They must replace CARB offset credits in the amount calculated pursuant to section 95985(h)(1)(A). [95985(h)(1)(B)] o Failure to Replace Invalidated Offsets: New requirement that if the parties identified in section 95985(e)(2) do not replace the ARB offset credits within six months, each unplaced ARB offset credit is a violation. [95985(h)(1)(C)] o Offset Project Operator Liability: New requirement that the Offset Project Operator replace the ARB offset credits in the event that the parties identified in section 95985(e)(2) are no longer in business. This will ensure that the environmental integrity of the program is preserved and the cap is made whole. [95985(h)(1)(C)(1.) through (h)(1)(C)(3.)] • Early Action Offset Credits o Change in Latest Registration Date: The latest date that early action offset projects can register or list their projects with an Early Action Offset Program was changed from January 1, 2013 to January 1, 2014. This modification will allow ARB time to approve Offset Project Registries and ARB accredited verifiers to process and verify offset projects developed under Compliance Offset Protocols. [95990(c)(3)] o Protocol Version: Only the most current version of any protocol may be used at the time the project is initiated. This ensures that an early action offset project is not using an out-of-date protocol. [95990(c)(5)] o Program Location: An Early Action Offset Program must have a primary business in the United States to ensure a physical presence in the geographic region where CARB will issue early action offset credits. This will better facilitate any in-person audits CARB may wish to pursue at the Early Action Offset Program offices. [95990(a)(3)(D)] • Modifications to Compliance Offset Protocol Livestock Projects. o This protocol was modified to allow identical engines to share a biogas flow meter and any mention of thermocouplers for flares have been expanded to include engines. Both of these changes were in response to stakeholder comments. o The requirements for adjustments to metered biogas flow data in Section 6.1 have been replaced with a more conservative method to ensure a rigorous accounting met
Tuesday, September 13, 2011
BGC EBS California Emission Markets Regulatory Update -
odology within the protocol. • Modifications to Compliance Offset Protocol Ozone Depleting Substances Projects. o CFC-13 was added as an eligible gas and incorporated into the methodology based on information from US EPA and others. The incorporation required changes throughout the protocol including addition of 10-year cumulative emission rates, carbon ratios, and substitute emissions. o Modified to include the updated leakage rates in Table 5.4. The leakage rates were updated to reflect the impacts of ARB’s Refrigerant Management Program. This change had already been made to the baseline calculations, but was inadvertently left out of Table 5.4. • Modification to Compliance Offset Protocol U.S. Forest Projects. o Modified to make the definition for “Forest Owner” consistent with the cap-and-trade regulation which was modified in response to stakeholder comments. o The eligibility of offset projects was also modified to allow projects that were part of other voluntary programs to register under the Compliance Offset Protocol if the offset project owners had met legal requirements before transitioning from the other voluntary programs. Stakeholders were concerned that only projects previously registered at the Climate Action Reserve would be allowed to transition to the Compliance Offset Protocol. o Clarifications were made to the language related to projects on tribal lands. o Forestry Offset Reversals:  Clarification that ARB offset credits must only be replaced if there have been CARB offset credits issued to the offset project. Also, in response to stakeholder comments, staff changed the timing for replacing the reversed tonnes from 90 days to six months. CARB believes this will alleviate concerns that entities will not have enough time to find sufficient compliance instruments. [95983(c)(3) and (c)(4)]  New section 95983(d)(1) was added to clarify that ARB will compensate for reversals out of the Forest Buffer Account in the case of project termination due to unintentional reversal. This will ensure that permanence obligations are fully upheld for all GHG reductions or removal enhancements achieved by the offset project. 6. Market Mechanics • Schedule for Allocation of Allowances: Allocation to electrical distribution utilities and industrial covered entities will now occur in November of the year prior to the allowance budget year being distributed. A special allocation of 2013 vintages to electrical distribution utilities is now planned in July 2012 to allow for consignment auctions by utilities of one-third (one-sixth at each of two auctions) of 2013 allowances in 2012. • Accounts for Registered Entities: Clarification that each registered entity will have no more than one holding account, compliance account, limited use holding account, or exchange clearing holding account. The existing requirement was vague, stating only that each registered entity could gain approval for a “set” of accounts. [95831(a)(1)] • Timely Surrender of Compliance Instruments: Clarification which vintage of compliance instruments is valid to meet a compliance obligation. The change explains that a compliance instrument from a vintage within or before the year for which a compliance obligation is calculated may be used to satisfy an annual obligation for that year. A compliance instrument issued for the last year of a compliance period, or from a previous vintage, may be used for a triennial obligation for that compliance period. The change is needed because stakeholders commented that the original text would have required entities to match vintages of allowances to emissions in a compliance period year by year rather than for the total over the compliance period. [95856(b)(2)] • Untimely Surrender of Compliance Instruments: Entities are allowed to use offset credits to meet up to one fourth of the untimely surrender obligation as long as the offset usage does not violate the quantitative offset usage limits for the applicable compliance period. This modification was made in response to stakeholder comments and to clarify staff’s original intent that the quantitative offset usage limit applies to the portion of offsets to meet the compliance obligation. No offsets are allowed to satisfy three-quarters of the untimely surrender obligation since these allowances return to the auction account. [95857(b)] • Allocation for Industry Assistance: The choice of allocation methodology is based on classification of “activities” rather than “industries” in Tables 8-1 and 9-1. This change clarifies that a facility within a given industry may conduct multiple activities and the operator of a facility may receive allocation under both the product-based and energy-based allocation methodologies (based on the assigned allocation approach for each separate activity). The assignment of allocation method was also updated to allow for the new petroleum refining approach created in 95891(d). [95891(a)] o The energy-based allocation calculation methodology specified in section 95891(c) was modified based on stakeholder comment. The text was updated to clarify that the CHP exclusion in the “steam consumed” term applies only to steam produced from CHP units on site. Allocations for on-site CHP unit activities are captured in the FConsumed term. Steam imported from an off-site CHP unit is included in the SConsumed term. The “electricity sold” term was altered slightly to clarify that this term captures all power exported or sold from a facility. Auction of Allowances • Auction Process: Clarification of the process used for the two auctions which will be conducted each quarter: o Budget Years: The auction of allowances from the current budget year may also include allowances from earlier budget years. This provision is needed to accommodate the two other changes. First, allowances remaining unsold at auction will be returned to auction for two consecutive auctions instead of being sent to the Reserve. Second, allowances used to fulfill an untimely surrender obligation will go to the auction holding account, not the Reserve. Both of these changes may result in older vintage allowances being auctioned. [95910(c)(1)] o Consigned Allowances: Allowances consigned to auction pursuant to 95870(f) will also be sold at the current vintage auction. New section 95910(c)(1)(C) clarifies that allowances remaining unsold at previous auctions may also be returned to the current vintag
Tuesday, September 13, 2011
BGC EBS California Emission Markets Regulatory Update -
auction pursuant to section 95911(b)(4). [95910(c)(1)(B)] o Future Vintages: One quarter of the future vintage allowances designated for auction in each budget year will be offered at each auction. [95910(c)(2)(B)] o Future Vintages and Unsold Allowances: Allowances remaining unsold at previous future vintage auctions may also be returned to the future vintage auction pursuant to section 95911(b)(4). [95910(c)(2)(C)] • Unsold Allowances: Allowances remaining unsold when an auction settlement price equals the auction reserve price will be returned to the auction holding account for two consecutive auctions rather than go to the Reserve. Staff agreed to make the changes after stakeholders commented that having unsold allowances placed in the Reserve would unnecessarily reduce the supply of allowances to the market and in cases when a market is initially over-allocated may result in the market being artificially short in later years. [95831(b)(4), 95911(b)(4)] • Purchase Limit: Section was modified to raise the purchase limit for the first compliance period from 10 percent to 15 percent for industrial entities. Staff determined the change was needed after reviewing new data on emissions and in response to comments, the entry of new facilities, and the effect of the allocation of allowances by ARB on net compliance needs. [95911(c)(4)(A)] Trading • Transactions vs. Transfer Requests: o Transfer Request: The term “transaction” was replaced with the term “transfer request.” CARB made the change to clear up confusion between the act of transferring control of a compliance instrument on the tracking system and the underlying agreement in the secondary market between entities which would result in a transfer. This change was made to sections 95920(b)(3) and (4). [95920(b)] o Transaction: The term “transaction” means an understanding among registered entities to transfer the control of an allowance from one entity to another, either immediately or at a later date. The “transfer” of a compliance instrument means the removal of the serial number of a compliance instrument from one account and placement into another account. In the California cap and trade system, a transfer will be effected through a “Transfer Request” submitted by an authorized account representative or an alternate authorized account representative to the accounts administrator in order to register a transfer of allowances between accounts into the tracking system. [95920(b)] o Deficient Transfer Requests: Clarification that the accounts administrator will not accept deficient transfer requests. Some stakeholders expressed concern that the provision would require the automatic unwinding of the transaction which resulted in the transfer request. [95920(f)(4)] • Conduct of Trades: All requests for transfer of compliance instruments between accounts on the tracking system must meet the requirements of this rule before the accounts administrator will register them into the tracking system. CARB believes the changes are needed to emphasize the distinction between the transfer request and the underlying transaction that results in the request. New section 95921(b) outlines the procedure to be followed when the accounts administrator finds a deficiency in the transfer request submitted pursuant to 95921(a). [95921(a)(1) and (2)] • Holding Limit for Current Compliance: Clarification of how the holding limit will apply to allowances which can be used for compliance in the current compliance year separately from those that cannot be used for compliance. Section 95920(c)(1) was modified to clarify a reference to section 95856(b), which defines the vintages that can be used for current compliance. [95920(c)] • Holding Limits for Allowances Only: was modified to clarify that the holding limit is applied only to allowances not all compliance instruments. In addition, the holding limit applies jointly to members of direct and indirect corporate associations, not to members of a disclosable corporate association. [95920(f)(1)] • Previous Years Allowances: In any year, allowances from the previous years may be used for compliance. Allowances purchased at the advance auction may be usable during the current compliance year, not the current compliance period. Also, the ability to use allowances changes with each year not each compliance period. That is, vintage 2015 allowances can be used for compliance surrender in 2016, but not vintage 2016 and 2017 allowances that had been purchased at advance auction. [95920(c)(1)(A-C)]. • Allowance Price Containment Reserve o Sale Price: The price charged for an allowance is the price of the tier from which it was purchased, not the bid actually submitted. CARB believes the change is necessary because the process allows bids to a higher tier to be fulfilled with allowances from a lower-priced tier if they are available. Staff agrees with stakeholders who commented that the procedure did not specify whether the bid or the tier price is to be used. [95913(f)(3)(B)] o Definition changes: the definition of the term “Proceeds” was modified to reflect that proceeds will also result from sales from the Allowance Price Containment Reserve. 7. Exclusion of Geologic Sequestration and Enhanced Oil Recovery • Carbon dioxide used in carbon capture and geologic sequestration (CCGS) and carbon dioxide-enhanced oil recovery (CO2-EOR) is excluded from the Cap-and-Trade Regulation in a different way from how the federal GHG reporting regulation excludes it. Whereas the federal reporting regulation contains separate reporting categories for carbon dioxide suppliers, CCGS, and CO2-EOR, ARB does not yet include these reporting categories within our Mandatory Reporting Regulation (MRR), though we signal in section 95852(g) that these activities and uses will be excluded from a compliance obligation through a to-be-developed quantification methodology. [95802] Deadline for Comments Given the state’s October 28, 2011 deadline to finalize the cap and trade regulation, CARB is moving directly on formal 15-day comment changes instead of releasing a “discussion draft” prior to formal comment. Comments are due to CARB on September 27th, 2011. While this set of rule changes is expected to be the last before the CARB votes on the final rule at its October 20-21 meeting, additional rulemaking is expected next year for linking California with other cap and trade programs. In parallel, the California Public Utilities Commission (CPUC) has established a schedule for rulemaking tha
Tuesday, September 13, 2011
BGC EBS California Emission Markets Regulatory Update -
regulates utilities on the use of revenue generated from the auctioning of their allowances. The CPUC has begun internal development of the rules and is planning to finalize them before CARB’s first allowance auction in August 2012. California Carbon Market Update California Carbon Markets continue to be driven by the formulation of rules and regulations under AB32 with allowance contracts climbing over the last week. Demand continues for projects under the Climate Action Reserve ODS, Forestry, and Ag Methane project protocols; with ODS and Ag CRTs are being offered in the $9.50 - $10.50 range. Due to continued uncertainty around the conversion of V2.1 forestry CRTs into compliant ARB Offsets, they continue to be offered at an approximate 20% discount to the ODS and Ag CRT projects. Various allowance contracts for use in California’s first compliance year (2013) have been trading between $16 and $20/metric tonne. For information on Carbon prices: please contact your BGC EBS broker at 646.346.6899 or 415.296.9359 San Joaquin ERC Rule Update SJVAPCD continues work on amendments to rule 2301, Emission Reduction Credit Banking for Greenhouse Gasses (GHGs). SJVAPCD is proposing: • Approval of banking of offset projects types that have been approved by CARB and other project types as the SJVAPCD determines. Offset credit will be given to projects as far back as 2005. • GHG reductions must occur in the San Joaquin Valley and be real, surplus, permanent, quantifiable, and enforceable. The public comment period for SJVAPCD’s draft EIR will close on September 26, 2011. For the rule itself, SJVAPCD will receive public comments until October 10, 2011. The SJVAPCD Board will hold a public hearing on the amendments on December 15, 2011. For information on SJVAPCD Carbon prices: please contact your BGC EBS broker at 646.346.6899 or 415.296.9359 US EPA Proposes Approval of 8-hour Ozone Standard for SCAQMD and SJVAPCD On September 8, the US EPA proposed to approve the 8-hour ozone air quality State Implementation Plans (SIP) for the San Joaquin Valley and South Coast Air Quality Management Districts. EPA is proposing to approve the 8-hour ozone air quality plans for 0.08 parts per million of ozone as measured in 8-hour increments, which include their attainment demonstrations, enforceable commitments and reductions from new technologies. Under the SIPs, both air districts will use statewide measures such as the in-use truck and off-road diesel rules, and smog-check improvements will further reduce air pollution. In the San Joaquin Valley, district rules will reduce emissions from boilers, open burning, composting, and livestock operations. In the South Coast, district rules are targeting emissions from boilers, solvents, and lubricants. In the face of the Obama Administration’s recent abandonment of a new ozone standard, regulated sources have been wondering if EPA would reinstate the 2008 ozone standard or allow it to lapse and use the earlier 1997 standard. EPA’s action in California indicates that it will rely on the 2008 standard until 2013 when it’s required to promulgate a new ozone standard. EPA is providing a 30-day public comment period on its 8-hour ozone proposed actions. For information on SJVAPCD ERC prices: please contact your BGC EBS broker at 646.346.6899 or 415.296.9359 South Coast Air Quality Management District Rule 1315: Judge Signals Support for Resubmitted EIR At a hearing late last week, Judge Jones indicated verbally that she was satisfied with the re-submittal of the EIR by the SCAQMD on Rule 1315 - ERC Tracking. Judge Jones indicated she’ll issue her formal ruling soon. Her comments came in response to a challenge by litigants saying the revised EIR was inadequate. In 2008, Judge Jones' ruling on the insufficiency of the Air District’s EIR for Rule 1315 caused a permitting moratorium. As a result, the California Legislature approved SB 827 in 2009 ending the moratorium and allowing SCAQMD to continue to issue permits. SCAQMD responded to the concerns of Judge Jones by re-writing the EIR and re-adopting Rule 1315. EPA has yet to approve the re-adopted rule. With EPA’s recent draft approval of the District’s SIP, supporters of the revised rule are hopeful. Timing is critical since SB 827 sunsets at the end of April 2012. For information on SCAQMD ERC and RECLAIM prices: please contact your BGC EBS broker at 646.346.6899 or 415.296.9359
Monday, September 12, 2011
TODAY: BGC Annual Charity Day! -
TODAY: BGC Annual Charity Day! As part of BGC’s continued legacy and commitment to raise money for charities and commemorate the 658 employees who lost their lives in the 9/11 attacks on the World Trade Center ten years ago, we will be holding our Seventh Annual Charity Day TODAY. Last year we raised in excess of $10 million globally, and to date BGC’s Charity Day has raised over $43 million globally. The charities we are supporting this year include: · Alliance for Lupus Research · AmeriCares · Boomer Esiason Foundation · Building Homes for Heroes · Felix Organization · Garden of Dreams · Happy Hearts · Harlem RBI · Intrepid Sea, Air and Space · Make-a-Wish Foundation · Services for the Underserved · Solving Kids Cancer · St. Christopher's · Tony Alt Foundation · USTA Serves · Wheelchair Sports Federation · Worldwide Orphans Foundation · Wounded Warrior Project · Youth Consultation Services More information on them can be found here: http://www.bgcpartners.com/about-us/charity/charity_day_2011/ In New York, we will be joined by a number of celebrity guests. Anticipated celebrity guests in New York include: Hilary Duff, Ben Stiller, Jon Voight, Russell Simmons, and Petra Nemcova. Sports icons include: Allan Houston, Carmelo Anthony, Henrik Lundqvist, Ike Davis, John McEnroe, Jared Jeffries, Mark Sanchez and many others. They will be on the phones alongside our licensed brokers making trades with you, our customers. We hope that this will encourage you to trade with us today and help raise money for these great causes. Flagship talk sport radio, WFAN, will be broadcasting live from our broking floor throughout the morning, starting with Boomer Esiason's and Craig Carton's show at 6am. Tune in to 660AM to listen in. In addition, Fox Business will be broadcasting live from our offices all day and the trade you see on television could very well be yours. Please reach out to your BGC Broker at 646.346.6899. With your support we look forward to this being another highly successful day in support of these worthy charitable organizations. Best wishes, BGC Environmental Brokerage Services
Wednesday, September 07, 2011
BGC’s Annual Charity Day, Monday, September 12, 2011 -
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