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California Carbon Jumps 6.6% to Highest in More Than 3 Months

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Jan. 3 (Bloomberg) -- California carbon emission allowances for December advanced 6.6 percent to the highest in more than three months.

The futures rose $1 to $16.10 a metric ton yesterday, the highest settlement since Sept. 10, according to data e-mailed by CME Group Inc.

The state’s cap-and-trade market started on Jan. 1. California, which adopted an emissions-trading program after efforts to pass a national plan failed, has hailed its effort as a model for the rest of the world, even as carbon prices in the U.S. Northeast and Europe declined.

To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net