50,000 California carbon allowances trade

Trading picked up from the previous week, with 50,000 California carbon allowances (CCAs) changing hands on the IntercontinentalExchange.

Prices were up as well, closing at $15.55, a 30 cent jump from last week.

For the past several weeks the price for CCAs have stuck in the $15-$16 dollar range, establishing what many participants believe to be a market floor well above the reserve price of $10.

California carbon offsets gained significant interest during the month of May as well.

The California Air Resources Board (ARB) is currently reviewing applications for both carbon registries and carbon offset project verifiers.

So far at least two major carbon registries have applied to assist the ARB with the administrative tasks associated with registering, verifying and monitoring carbon offset projects.

A number of carbon project verifiers have also expressed interest in attending training to be held over the last two weeks in June.

So far the ARB has specified four carbon offset project types-Forestry, Urban Forestry, Livestock Methane and destruction of Ozone Depleting Substances-for inclusion in the California carbon market.