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.
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