Offset Pricing Monthly Market Digest – April 2020

by Derek Six | May 6, 2020

Offset Supply Information:
All CCOs issued to date: 174.45 million
Compliance credits awaiting issuance: 32.84 million

CA and General Market Commentary:

ARB issued only 1.16 million CCOs during the month of March. The ROC backlog (Compliance credits awaiting issuance) climbed by 3.46 million, and is now near the upper end of its historic range. Smaller monthly issuances and a growing backlog may be due to COVID-19 disruptions at ARB.
CCA prices recovered slowly in April, but remain well below the $16.68 auction floor price. The next scheduled auction is in May.

ClimeCo Corporation is a respected project developer, advisor and trader of environmental commodity market products. Specialized expertise in regional criteria pollutant trading programs, California cap‐and‐trade, voluntary markets and project development and financing of internal CO2 abatement systems complement ClimeCo’s diverse commodity portfolio. Within the Climate Action Reserve, ClimeCo is the largest developer of U.S. GHG‐offset projects and producer of U.S. voluntary carbon offsets, managing projects that reduce more than four million tonnes of CO2e per year. For information, contact 484‐415‐0501 or nmarshall@climeco.com.