by Derek Six | September 8, 2026
Updates for the period ending August 31, 2026
| .CCO 8s-Non-DEBs | Bid 18.00 | Ask 18.50 |
| .CCO 8s-DEBs | Bid 23.10 | Ask 23.50 |
CCO 8s are ARB-issued offsets available for spot delivery and subject to 8 years during which they may be invalidated.
| .CCO 3s- Non-DEBs | Bid 18.20 | Ask 18.80 |
| .CCO 3s- DEBs | Bid 23.25 | Ask 23.75 |
CCO 3s are ARB-issued offsets available for spot delivery and subject to 3 years during which they may be invalidated. The reduction to 3 years is achieved by having a different verifier successfully verify the project the following year.
| .CA Compliance Allowances | Bid 33.35 | Ask 33.45 |
Allowances are the permits entities purchase to emit in CA. Entities can substitute offsets for up to 4% of their total emissions. Prices shown are for the front-month futures contract.
| .CA Floor Price 2026 | 27.94 |
The minimum price at which entities can purchase allowances in 2026.
| .Estimated CA floor price 2027 | 30.31 |
Allowances are the permits entities purchase to emit in CA. Entities can substitute offsets for up to 4% of their total (the minimum price at which entities can purchase allowances in 2027 increases by 5% annually plus CPI-U).
(Bid/Ask Prices are taken from multiple broker quotes for the period ended August 31, 2026. The 2026 CA Floor Price is the regulatory minimum auction price for allowances. The 2027 estimate is based on regulatory rules and ClimeCo’s assumption of inflation in 2026 as measured by the CPI-U index. Green numbers indicate positive changes during the month, red numbers indicate negative changes during the month, and black numbers are unchanged.)
Offset Supply Information:
All CCOs issued to date: 293.1 million
CA and General Market Commentary:
- On August 19, CA and QC held their 48th quarterly joint auction of Cap-and-Invest program allowances. The auction for current-year vintage allowances cleared at $32.48, with a bid-to-cover ratio of 1.31.
- The CA Office of Administrative Law (OAL) has approved the Proposed Amendments to the Regulation. The amended Regulation becomes effective September 1, 2026. Shortly thereafter, Quebec adopted changes to its regulation effective September 10, 2026. Quebec’s changes align its program with CA’s updates and lay the groundwork for linkage with WA.
- One significant change to the Quebec program is that offsets will now only be allowed for 6% of an entity’s compliance obligation, and starting in 2027, only 5% can be from non-Quebec-issued offsets. This will fall to 4% in 2029.
- Issuances of CCOs in August totaled 1,784,620. We are watching the issuance trends as compared to the same period in previous years to gauge the future available supply of DEBs and Non-DEBs offsets. Issuance volumes so far this year are historically low:
| .Year | Total Issuances YTD |
| 2022 | 7,263,346 |
| 2023 | 9,299,985 |
| 2024 | 7,271,647 |
| 2025 | 9,062,157 |
| 2026 | 4,595,005 |
*Issuance volumes shown are gross volumes and do not reflect credits set aside in the forest buffer pool.
ClimeCo is an award-winning leader in decarbonization, empowering global organizations with customized sustainability pathways. Our team of respected scientists and industry experts collaborates with companies, governments, and capital markets to develop tailored ESG and decarbonization solutions. Recognized for creating high-quality, impactful projects, ClimeCo is committed to helping clients achieve their goals, maximize environmental assets, and enhance their brand. Partner with ClimeCo to drive meaningful environmental change and take your climate initiatives to new heights.
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