Calif. Cap-And-Trade Sale Highlights Viable Carbon Market

Law360, New York (November 20, 2012, 7:22 PM EST) -- California sold all of the 23.1 million carbon pollution credits offered in its debut cap-and-trade auction, signaling companies are prepared to participate in the nascent market and alleviating concerns that demand would suffer following a suit filed last week to block the auction.

The California Air Resources Board held the auction last week and released the results on Monday, showing that allowances for 2013 closed at $10.09 per ton of carbon dioxide, slightly above the $10 floor price, and that the agency received more than three...
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