#1 cleantech news, reviews, & analysis site in the world. Subscribe today. The future is now.

Cap And Trade california leads u.s. on cap & trade legislation

Published on October 22nd, 2011 | by Zachary Shahan


California’s Cap-and-Trade Program Finally Approved

October 22nd, 2011 by  

california leads u.s. on cap & trade legislation

QUICK NEWS: If you haven’t heard yet, California’s cap-and-trade program is finally fully, fully approved. Here’s the quick summary from the LATimes:

The California Air Resources Board on Thursday unanimously adopted the nation’s first state-administered cap-and-trade regulations, a landmark set of air pollution controls to address climate change and help the state achieve its ambitious goals to reduce greenhouse gas emissions.

The complex market system for the first time puts a price on heat-trapping pollution by allowing California’s dirtiest industries to trade carbon credits. The rules have been years in the making, overcoming legal challenges and an aggressive oil industry-sponsored ballot initiative….

Cap-and-trade is the centerpiece of AB 32, California’s historic climate change law that mandates a reduction in carbon pollution to 1990 levels by 2020. Beginning in 2013 the state’s largest carbon emitters will be required to meet the caps or buy credits if they cannot.

A second phase of compliance begins in 2015 and is expected to include 85% of California’s emissions sources.

More on the LATimesCalifornia becomes first state to adopt cap-and-trade program

Of course, I think this is a wonderful thing and look forward to California’s success leading the way for other states and the U.S. as a whole to one day adopt such a program (or some system for putting a price on CO2 and other harmful greenhouse gas emissions). As utility company CEOs (and many others) have made more than clear, a price on CO2 is critical to us addressing the causes of global warming (which are clearly human-caused) and propelling ourselves and the world into a clean energy economy much, much faster.

Kudos to California!

Photo Credit: AttributionNoncommercial Some rights reserved by Brian Wilkins

Tags: , , , , , , ,

About the Author

Zach is tryin' to help society help itself (and other species) with the power of the word. He spends most of his time here on CleanTechnica as its director and chief editor, but he's also the president of Important Media and the director/founder of EV Obsession and Solar Love. Zach is recognized globally as a solar energy, electric car, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, and Canada. Zach has long-term investments in TSLA, FSLR, SPWR, SEDG, & ABB — after years of covering solar and EVs, he simply has a lot of faith in these particular companies and feels like they are good cleantech companies to invest in. But he offers no professional investment advice and would rather not be responsible for you losing money, so don't jump to conclusions.

Back to Top ↑