Lower California GHG Auction Prices Prompt EDF Call For Policy Certainty

Continued lower prices for carbon credits in the latest California-Quebec cap-and-trade auction is prompting the Environmental Defense Fund (EDF) to urge state leaders to quickly adopt tougher emission-reduction requirements under the program and statutorily authorize the market to extend beyond 2030. “Auction prices in the joint California-Quebec market . . . have trended downward this year, reflecting growing uncertainty among market participants about how best to plan their compliance strategies in the absence of regulatory or legislative clarity,” states a...