California Carbon Offset (CCO) issuances will increase this year due to a large overhang of WCI-eligible credits awaiting approval by California regulator ARB at the end of 2019, analysts said Wednesday.
According to a new report from Toronto-based analysts ClearBlue Markets, the ARB will distribute 52.4 mln CCOs in 2020, marking a significant shift from the 26.5 million offsets distributed by the California agency last year. CCO issuances last year plunged 50% from 2018 as a result of delayed forestry credit approvals, ClearBlue said.