Statement on legislation to extend California cap-and-trade system

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California’s Governor Jerry Brown, Assembly Speaker Anthony Rendon, and Senate President Pro Tempore Kevin de León have reached agreement on legislation to extend the state’s cap-and-trade program to 2030.  This statement forecasts what impact this achievement will have on the…

Statement on California carbon auction results: Fundamentals drove demand rebound

Permalink to Statement on California carbon auction results: Fundamentals drove demand rebound

Permit demand surged at California’s carbon allowance auction this month, in line with our prediction: 100 percent of current vintage allowances sold at the auction floor price of $13.80. The sale will raise upwards of $450 million dollars for the state’s Greenhouse Gas Reduction Fund. Today’s results underline the California carbon market’s core strength – fundamentally strong policy design.