03 Sep '12, 12am

California kicks off carbon cap-and-trade trial

Californian officials have completed a successful trial of its much anticipated carbon trading scheme, which will be launched in November in an attempt to put a price on emissions from industrial facilities and power plants. The state's Air Resources Board staged a mock greenhouse gas auction late last week, in which heavy emitting companies pretended to bid for carbon permits in order to test out the system ahead of its official launch. FURTHER READING Obama vows to slash emissions with industrial efficiency push US Election 2012 - Green Business Special California will roll out the platform for real on November 14, when more than 400 companies will be able to buy and sell tradable carbon credits through quarterly auctions. A statewide cap on carbon emissions will then be imposed from 2013, before being gradually lowered year-on-year, providing firms with a financial ince...

Full article: http://www.businessgreen.com/bg/news/2202233/california-k...

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