Offset Pricing Monthly Market Digest – June 2021
Offset Supply Information:
All CCOs issued to date: 221.23 million
Compliance credits awaiting issuance: 16.13 million
CA and General Market Commentary:
- Issuances of CCOs continued to be slow in June. The ROC backlog increased by nearly 2 million. Relatively low issuances of new CCOs continue to constrain the offsets available to entities as they look to fulfill their obligations at the 3-year compliance deadline on November 1st.
- Allowance (CCA) prices continued their strong move upward, increasing $2.31/CCA since the end of May. Offset (CCO) prices moved upward as well during June, but continue to underperform the increases seen in CCA prices. CCO-0s are now priced at a 32% discount to allowances, which appears to be a record high discount %.
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