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The California Air Resources Board (CARB) released its February 19, 2020 joint auction results for greenhouse gas (GHG) allowances between CARB and Québec's ministère de l'Environnement et de la Lutte contre les changements climatiques (Ministry of the Environment and the Fight against Climate Change, MELCC). The auction sold 1,813,781 metric tons of 2017 vintage allowances, 55,276,296 metric tons of 2020 vintage allowances, and 8,672,250 metric tons of 2023 advance vintage allowances. 2017 and 2020 allowances sold for a settlement price of $17.87 per metric ton and 2023 allowances sold for a settlement price of $18.00 per metric ton. Trinity recommends banking credits as allowance prices continue to trend upward.

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