California carbon trades at $14.50

In a busy week the Intercontinental Exchange (ICE) saw 160,000 California carbon allowances (CCAs) exchange hands for $14.50 a piece.

Market analysts expect trading volume to substantially increase once compliance buyers begin purchasing offsets to meet their 2013 emission reduction targets.

Forestry offsets that will be accepted for use in the California carbon market saw asking prices rise to $10 per credit.