Discover the latest updates in California's CCA market. In Q1, CCAs appreciated by 2.4% and closed at $30.07, indicating stability. The strong bid coverage ratio and the introduction of a new floor price provide investment attractiveness and reduce risks. The market adjusts to California's ambitious Scoping Plan, aiming for carbon neutrality by 2045 and 48% emissions reductions by 2030. Tightening of the cap-and-trade system is expected, with potential emission reduction targets being raised. Macroeconomic factors impact CCA performance, but a rebound is anticipated, boosting CCA prices. The extension of the CCA market beyond 2030 is likely, driven by regulatory guidelines and the need to meet emission reduction goals. The future of California's CCA market looks promising, playing a vital role in achieving climate ambitions.
