by Derek Six | June 7, 2023

Offset Supply Information:

All CCOs issued to date: 247.81 million

CA and General Market Commentary:

• On May 26th, ARB announced the results of the second quarterly allowance auction of 2023. Current vintage CCAs cleared at $30.33 with a bid to cover ratio of 1.75.
• On June 14th, there will be a workshop entitled “Joint California-Quebec Public Workshop: Potential Amendments to the Cap-and-Trade Program”. This will be an interesting workshop to watch as CA and QC will potentially discuss amendments to align the program with CA’s increased climate ambitions.
  
• Issuances of CCOs in May totaled 2,390,563. The table below continues to track a trend of significantly lower CCO issuances versus prior years:

ClimeCo is a respected global advisor, transaction facilitator, trader, and developer of environmental commodity market products and related solutions. We specialize in voluntary carbon, regulated carbon, renewable energy credits, plastics credits, and regional criteria pollutant trading programs. Complimenting these programs is a team of professionals skilled in providing sustainability program management solutions and developing and financing of GHG abatement and mitigation systems.

For more information or to discuss how ClimeCo can drive value for your organization, contact us at 484.415.0501, info@climeco.com, or through our website climeco.com. Be sure to follow us on LinkedIn, Facebook, Instagram, and Twitter using our handle, @ClimeCo.