by Derek Six | December 6, 2023
Offset Supply Information:
All CCOs issued to date: 254.48 million
CA and General Market Commentary:
- Results for the Q4 ARB allowance auction was announced on Wednesday, November 22. For current vintages, the auction cleared at $38.73, a new record high clearing price, and a little bit higher than the market was anticipating.
- DEBs and Non-DEBs CCOs continued to move in opposite directions again this month as DEBs gained and Non-DEBs credits traded lower. DEBs credits are perceived as being in short supply while Non-DEBs credits are perceived as adequately supplied. ClimeCo has questions as to whether this perception is correct. We note that in the latter half of the decade, offset usage limits are set to increase from 4% to 6%, and we note some structural issues as ODS issuances/project decline and Ag Methane projects have now almost entirely moved out of the offset program in favor of the CA LCFS program.
- Issuances of CCOs in November totaled 535,958. Issuances YTD in 2023 are higher than YTD 2022 by 0.6% but lower than YTD 2021 by 34.2%:
ClimeCo is a global sustainability company headquartered in Pennsylvania, with projects and partners all over the world. Our mission is to advance the low-carbon future and restore nature with market-based solutions. We offer comprehensive services spanning environmental asset innovation, ESG and climate strategy consulting, regulatory and policy advisory, environmental credits, API solutions, and climate action certification programs.
Our growing team of respected scientists and industry experts collaborate with companies of all sizes, governmental groups, NGOs, and capital markets players on ESG, decarbonization, and policy issues—allowing us to develop high-quality, purpose-built end-to-end sustainability solutions with measurable impact. We are steadfastly committed to educating and empowering our clients, no matter where they are in their sustainability journey, to be confident in a rapidly evolving marketplace.
Take your climate initiatives to new heights by collaborating with ClimeCo. Contact us at +1 484.415.0501, info@climeco.com, or through our website climeco.com.
