1.1 million California carbon allowances trade

Over 1.1 million California carbon allowances (CCAs) for use in the state’s carbon market exchanged hands this week.

This represents the busiest week of trading to date for the state’s carbon market, improving on the 700,000 California carbon allowances that were exchanged last week.

The increase in volume is attributed to new entities that are just beginning to participate in the carbon market.

News that Quebec may link its carbon system with California’s is also a bullish sign.

The price for CCAs ranged from $14 to $15 before closing the week at $14.30