Tag: cap and trade

California Blazes a Trail With the First U.S. Carbon Trading Program

By Andrew Moseman | December 17, 2010 10:57 am

carbonemissionsCap-and-trade is coming to California. The market-based system intended to cut greenhouse gas emissions is the key part of the Golden State’s effort, set into law four years ago, to cut its emissions to 1990 levels by 2020. Yesterday the California Air Resources Board finally approved the complex set of rules, which will go into effect in 2012.

Power plants, refineries and other industrial facilities that emit carbon dioxide and can’t cut their emissions by the required amount will be able to obtain pollution allowances from the state or buy them from other emitters with excess allowances. [Wall Street Journal]

Cap-and-trade is widespread in Europe, but California‘s plan would be the first large-scale, legally mandated version of this idea to get going in the United States.

“We’re inventing this,” said Mary Nichols, chairwoman of the state’s air quality board. “There is still going to be quite a bit of action needed before it becomes operational.” She said California is trying to “fill the vacuum created by the failure of Congress to pass any kind of climate or energy legislation for many years now.” [USA Today]

Read More

CATEGORIZED UNDER: Environment
NEW ON DISCOVER
OPEN
CITIZEN SCIENCE
ADVERTISEMENT

Discover's Newsletter

Sign up to get the latest science news delivered weekly right to your inbox!

80beats

80beats is DISCOVER's news aggregator, weaving together the choicest tidbits from the best articles covering the day's most compelling topics.
ADVERTISEMENT

See More

ADVERTISEMENT
Collapse bottom bar
+

Login to your Account

X
E-mail address:
Password:
Remember me
Forgot your password?
No problem. Click here to have it e-mailed to you.

Not Registered Yet?

Register now for FREE. Registration only takes a few minutes to complete. Register now »