01 Jul '11, 6am

California ARB Delays Cap-and-Trade Start

California’s proposed cap-and-trade program will be delayed by a year, the state’s Air Resources Board has announced. CARB chairwoman Mary Nichols said the delay to the program’s start date, from January 2012 to January 2013, was because of the “need for all necessary elements to be in place and fully functional”, the L.A. Times reported. More specifically, the New York Times reported, the CARB is delaying the program to protect it from potential market manipulation. “It was the issue of making sure there isn’t gaming,” Nichols said, according to the paper. The initiative has been subject to ongoing lawsuits. This spring, a San Francisco superior court judge ruled that the board had not adequately analyzed alternatives to a cap-and-trade program. Last week an appeals court ruled that the CARB could keep working on program rules while waiting for the outcome of its appeal a...

Full article: http://www.environmentalleader.com/2011/07/01/california-...

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