by Derek Six | October 4, 2024
Updates for the period ending September 30, 2024
| .CCO 8s-Non-DEBs | Bid 16.10 | Ask 16.30 |
| .CCO 8s-DEBs | Bid 30.90 | Ask 31.20 |
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 16.50 | Bid 16.80 |
| .CCO 3s- DEBs | Bid 31.25 | Bid 31.75 |
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 35.74 | Ask 35.76 |
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 2024 | 24.04 |
The minimum price at which entities can purchase allowances in 2024.
| .Estimated CA floor price 2025 | 25.90 |
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 2025 increases by 5% annually plus CPI-U).
(Bid/Ask Prices are taken from multiple broker quotes for the period ended September 30, 2024. The 2024 CA Floor price is the regulatory minimum auction price for allowances. The 2025 estimate is based on regulatory rules and ClimeCo’s assumption of inflation in 2024 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: 264.94 million
CA and General Market Commentary:
- Issuances of CCOs in September totaled 757,600. 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. Since 2021, issuances have generally been on a downward trajectory:
| .Year | Total Issuances YTD |
| .2021 | 11,180,388 |
| .2022 | 9,352,681 |
| .2023 | 10,082,177 |
| .2024 | 8,029,247 |
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.
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