WCI's Eighteenth Joint auction was oversubscribed for the Current Auction which cleared at a settlement price of USD 15.73 with a bid-to-cover ratio of 1.21. The Advance Auction failed to clear at a settlement price of USD 15.62 with a bid ratio of 0.66. The current auction settlement price was 11 cents over the floor price.
There were a total of 86 qualified bidders with 64 from California and 22 bidders from Quebec.
2.5 million carbon offsets were issued to 8 projects by the California Air Resources Board with majority allocated to forestry projects. This also happens to be the highest issuance since late October last year. This week’s issuance overlapped with the WCI’s 18th Joint Auction, which saw the Current Auction oversubscribed at a settlement price (USD 15.73); around eleven cents above the floor.
Trades started gaining ground with 12.4 million tons California Carbon allowances trading on the InterContinental Exchange (ICE). Most of the volume was dominated by the V19s contributing to 8.8 million tons of the total volume traded.
WCI’s Eighteenth Joint auction results were also released last week, where the Current Auction was oversubscribed clearing at a settlement price of USD 15.73 with a bid-to-cover ratio of 1.21. The Advance Auction failed to clear at a settlement price of USD 15.62 with a bid ratio of 0.66. The current auction settlement price was 11 cents over the floor price.
See our CCA tracker for a detailed look into CCA price trends:
"...The atmosphere contains far less methane than carbon dioxide. But methane is so good at trapping heat that one ton of the gas causes 32 times as much warming as one ton of CO2 over the course of a century. ..."
"... There’s 400 gigatons now, in the 3 trillion trees, and if you were to scale that up by another trillion trees that’s in the order of hundreds of gigatons captured from the atmosphere – at least 10 years of anthropogenic emissions completely wiped out,” Crowther said, as The Independent reported......"
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