20 Oct '11, 9pm

California's Cap-and-Trade Program Awaits Green Light

California's Air Resources Board has formally adopted the state's greenhouse cap-and-trade program today, following a lawsuit that delayed compliance with the controversial scheme by a year . The program, which will begin in mid-2012 with auctions of the emissions allowances, will be the nation's most stringent cap-and-trade mandate but not the first. It follows in the footsteps of the Regional Greenhouse Gas Initiative , a program that covers utilities in Northeastern and mid-Atlantic states. "When fully implemented, it will cover 85 percent of the state's greenhouse gas pollution, making this the first-ever economy-wide market for greenhouse gas reductions in North America," Tim O'Connor, the director of the Environmental Defense Fund's California Climate and Energy Initiative, said earlier this week during a conference call with reporters. The cap-and-trade program is o...

Full article: http://www.greenbiz.com/blog/2011/10/20/californias-cap-t...

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