On Oct. 20, 2011, the California Air Resources Board (ARB) adopted the final version of the state’s cap-and-trade regulation.
According to the AB 32 Scoping Plan, California is set to implement a cap-and-trade program in order to considerably reduce the state’s greenhouse gas (GHG) emissions – by up to 80 percent by 2050, in comparison to 1990 levels.
The cap-and-trade program will implement a limit in which facilities and sectors, subject to the cap, can legally emit GHGs.
In doing so, the state is hopeful that emissions will ultimately be reduced to 1990 levels by 2020 – an eight year target that many state lawmakers believe can be reached.
Continue reading this article on PE’s website.
- Will California’s cap-and-trade experiment catch on? (theneteconomy.wordpress.com)