CARB ‘moving quickly’ to increase LCFS targets by 2024: agency

Source: By OPIS • Posted: Thursday, February 23, 2023

The California Air Resources Board is “moving quickly” in its latest rulemaking process, with a goal of establishing revised carbon intensity targets for the Low Carbon Fuel Standard program by 2024, the agency said in a Wednesday workshop.

LCFS stakeholders — especially low-carbon fuel producers — have been sounding the alarm to CARB for months, saying the current targets are being greatly outpaced by surging credit generation that has resulted in low credit prices. Earlier this month, the OPIS LCFS credit assessment hit $60/credit, the lowest level since July 2016. “We understand how important it is to everyone that we update the LCFS, so we are moving quickly to the rulemaking process with our goal of having regulatory amendments become effective in early 2024,” said Katrina Castellano of CARB’s alternative fuels section.