California carbon trading at $15.50

The California carbon market continued to see high prices with California carbon allowances (CCAs) trading for a healthy $15.50.

Allowance volumes were down as market players await further participation from larger regulated entities with only 10,000 CCAs trading over the Intercontinental Exchange.

California carbon offsets have continued to receive extra attention so far this month.

The California Air Resources Board (ARB) will hold training sessions over the final two weeks of June for both carbon registries and carbon offset project verifiers.

At least two major voluntary carbon registries have applied to receive ARB accreditation that will allow them to issue and track carbon offset credits for use in the California carbon market.

Additionally, over 30 carbon project verifiers have applied to attend ARB training to ensure the validity and additionality of offsets to be used in the California carbon market.

Regulated emitters will be able to purchase California carbon offset (CCOs) credits to meet up to 8% of their compliance obligation, which comes out to over 200 million CCOs through 2020.