355,000 carbon allowances trade in California

In a very busy week 355,000 California carbon allowances (CCAs) traded on the Intercontinental Exchange.

The price for CCAs closed at $17.40, down 50 cents from last week.

Activity has continued to pick up as the November 14 allowance auction approaches.

The California Air Resources Board (ARB) will be holding a mock auction at the end of August to test the market systems.