California Carbon Allowances
A California Carbon Allowance (CCA) is a tradable compliance instrument issued under California’s Cap-and-Trade Program. Each allowance represents the right to emit one metric ton of CO₂ (or equivalent greenhouse gases).
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CCAs: Powering Climate Compliance
CCAs form the backbone of California’s Cap-and-Trade Program, requiring covered entities such as utilities, refiners, and industrial facilities to surrender allowances equal to their emissions. Trading CCAs allows organisations to meet regulatory obligations, manage exposure, and invest in the clean energy transition.
CCAs Made Simple
We specialise in trading California Carbon Allowance (CCA) options and futures, giving our clients the ability to manage compliance costs, hedge market exposure, and capture opportunities in one of the world’s most established carbon markets. Whether your focus is regulatory compliance or strategic investment, Grey Epoch provides tailored solutions designed around your objectives.
How It Works
Grey Epoch provides access to traders of CCA options and futures through the exchange, where we’ve been making markets in emissions products for nearly 20 years.
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Ensure your California carbon compliance and trading strategy with Grey Epoch.
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40%
typical savings in trading fees
1bn
carbon products traded annually
2nd
largest ETS trader globally
18yrs
active in carbon markets
FAQs
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CCAs represent the right to emit one tonne of CO₂-equivalent under California’s cap-and-trade program, which has been instrumental in reducing state emissions by over 15% since 2013.
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Allowances can be purchased via futures and options on regulated exchanges, as well as over-the-counter through brokers like Grey Epoch.
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Large emitters: Facilities in electricity generation and major industrial sectors emitting ≥ 25,000 tCO₂e/year must participate.
Fuel suppliers: Distributors of transportation fuels and natural gas are included (added in 2015).
Optional participation: Smaller emitters in covered sectors can opt in voluntarily to participate in the market.
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They complement California’s Low Carbon Fuel Standard and other climate initiatives, collectively supporting the state’s ambitious carbon reduction targets.
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Grey Epoch Europe Limited (FRN: 959638) is an appointed representative of Thornbridge Investment Management LLP (FRN: 713859) which is authorised and regulated by the Financial Conduct Authority.
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