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Platts CEC carbon credit price rises 10 cents to 90 cents/mtCO2e after Democrats win US Senate

New York — Platts CEC, or "CORSIA-eligible" carbon credit, price rose 10 cents/mtCO2e day on day Jan. 6 to be assessed at 90 cents/mtCO2e, after Democrats won control of the US Senate with two victories in Georgia.

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S&P Global Platts first began assessing the price of CORSIA-eligible voluntary carbon credits on Jan. 4.

Market sources expect Democratic control of the Senate to be bullish for environmental markets moving forward, as it is likely to give President-elect Joe Biden a better chance to enact his environmental legislative agenda.

"We're going to see a bit more environmental consensus," a market source said.

Biden vowed both during and after the election to rejoin the Paris Climate Agreement, and has set forth an ambitious roadmap to combat climate change.

Trading in the voluntary markets remain subdued early in the new year, with many buyers still in the process of verifying their 2020 emissions. CORSIA-specific demand is expected to remain low throughout 2021 as the COVID-19 pandemic continues to ground air travel.