ClearBlue Markets：2026年第一季度全球碳市场状况特别报告（英文版）（15页）.pdf

1、Source:ICE,Carbon-I,Reputex,Jarden,Nodal,EEX,CBL,CoinGecko,Commerg,Brokerage sources,Project developers,ClearBlue Markets Source:ICE,Carbon-I,Reputex,Jarden,Nodal,EEX,CBL,CoinGecko,Commerg,Brokerage sources,Project developers,ClearBlue MarketsState of Global Carbon Markets Global Quarterly Report Q1

2、 2026 Carbon Markets Overview NA Cap and Trade CCA prices declined,as participants consider the ongoing Program Review targeted for a Board vote in May 2026.RGAs rose in Q1 due to continued high power demand.Also,Virginia is progressing quickly to rejoin RGGI.WCAs retreated back from the ceiling as

3、incoming supply from HB 1975 implementation should provide adequate supply for CP1 compliance.Canadian Markets TIER market participants are awaiting the industrial pricing equivalency agreement to be announced;the scheduled target date was April 1,2026.Alberta TIER credit prices experienced signific

4、ant volatility in Q1,with spot estimates peaking at CAD 41 before pulling back to the CAD 30 range by quarter-end.Clean Fuel Markets California LCFS prices rose in Q1 2026,rallying on the Q3 2025 bank draw before fading as stronger diesel prices and RFS signals reduced credit demand.Oregon CFP stren

5、gthened on continued bank draws,while Washington CFS increased on higher stringency but remained capped by a large surplus.RIN prices rallied on stronger RVOs and reallocation of prior exempted volumes.In Canada,CFR credits rose above the fund price on tightening balances,while BC-LCFS prices moved

6、higher,supported by stronger U.S.pricing and import economics.VCM In Q1 2026,the VCM continues to contract,with a notable year-over-year declines in both issuances and retirements.While high-durability removals and North American energy credits remain resilient,broader sectors like forestry and glob