Netting $1.3 Billion, California GHG Auction Sets New Sales-Price Record

The latest quarterly California-Quebec greenhouse gas credit auction has again broken record highs for sale prices, with all of the 77 million carbon allowances selling for over $28 apiece, nearly $11 above the floor price, and netting California more than $1.3 billion for programs to reduce GHGs and adapt to climate change. According to a summary of the Nov. 17 auction released by the California Air Resources Board (CARB) on Nov. 24, all 68.5 million “current year” 2019, 2020 and...