WisdomTree unveils California Carbon Allowance ETP

Europe’s first

WisdomTree has launched Europe’s first California Carbon Allowance (CCA) ETP, providing exposure to the state’s cap-and-trade system.

Listing today (19 April) on the London Stock Exchange and Borsa Italiana, the WisdomTree California Carbon ETP aims to reflect the movement in the price of ICE CCA Futures. Invesco unveils four ESG ETFs CCAs are issued by the state's Air Resources Board in the country's first multi-sector cap-and-trade emissions trading system, aiming to reduce greenhouse gas emissions to 85% below 1990 levels by 2045, and 48% by 2030. In 2022, CCA futures traded about $1.7bn a month, WisdomTree added, noting that it was the second most liquid carbon allowance market globally. Some of the revenu...