A total 9.5 million tons of California Carbon Allowances (CCAs) were traded last week with most of the action occurring on Friday when 5.7 million tons were traded on the InterContinental Exchange (ICE). Over the week, prices dropped by a cent on the front contract (V19 Jan19) and dropped 2 cents for the benchmark contract (V19 Dec19). The Open Interest creation was at 37% of the total volume traded last week.
Prices were relatively stable last week, with one cent movements occurring through the week on the benchmark contract.
The entire forward curve moved up by 2 cents on Wednesday and then lost the gains on Friday when 5.7 million tons got traded on ICE. The front contract was the only exception gaining and losing just the one cent on both days.
See our CCA tracker for a detailed look into CCA price trends:
600k carbon offsets passed ARB’s approval this week, with credits distributed across 13 projects, out of which 6 were livestock projects, 5 were ODS projects and 2 were Forestry.
ODS projects were the highest scorers of the week, as 3 ClimeCo projects saw a combined 233k CCOs issued. Around 123k CCOs were distributed to ODS Destruction 26 (CAR1300), and the remainder spread across its ODS Destruction 27 (CAR1301) and ODS Destruction 28 (CAR1302) projects. Tradewater's ODS 18 (ACR436) also gained 96k CCOs, while Irony's CAR1289 project managed 8,330 credits, the first by this listing entity. Only 1 ODS project now has ROCs awaiting ARBOC issuances
For more information on the methodology used in computing price data, please visit our website.
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