INSIGHTSSERIES
Environmental Markets | Carbon Markets
March 18, 2024
U.S. Carbon Markets Adapt to Regulatory Changes Amid State-Level Emissions Reduction Efforts
As states explore market-based strategies to reduce emissions, carbon pricing mechanisms face evolving regulatory landscapes and mixed auction results.
As carbon pricing gains traction as a policy tool to combat climate change and achieve net-zero emissions, regulatory attention on U.S. carbon markets has been on the rise. Recent developments in state-level emissions trading programs have yielded mixed results…Read the full report
Key Takeaways
- The fifth auction of greenhouse gas allowances under Washington's cap-and-invest program saw a 50 percent drop in clearing prices.
- The latest joint auction of California and Quebec cleared at record high prices for the third consecutive quarter.
- The multi-state RGGI auction saw a new high amid changes, including Virginia’s withdrawal and Pennsylvania not participating in auctions.
