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California Carbon Auction Raises $297 Million

California companies paid about $297 million to release carbon emissions at the state’s most recent cap-and-trade auction, according to data published Friday. The state’s fifth auction on Nov. 19 sold all 16.6 carbon allowances, with firms including Exxon Mobil and Dow Chemical paying $11.48 per allowance to release 1 metric … Read more »

California State Capitol

Court Upholds California Carbon Auctions

A Superior Court judge has rejected a legal challenge to California’s carbon auctions, a key piece of the state’s cap-and-trade program. The California Chamber of Commerce and Pacific Legal Foundation, on behalf of a dozen clients including Morning Star Packing Company and Dalton Trucking, had filed lawsuits in Sacramento Superior … Read more »

California Carbon Price Hits Record High

California raised more than $280 million selling greenhouse gas emissions permits in its third auction, with businesses paying a record $14 per metric ton for the right to release carbon this year. All 14.5 million available allowances for use this year sold, the California Air Resources Board says. The $280 … Read more »