California Lawmakers Pass Measure Limiting Cap-And-Trade Links - Bloomberg
California lawmakers passed a bill that may stall plans for a link of the state’s cap-and-trade system with Quebec that would allow companies to exchange carbon permits across the borders. The measure, approved as part of the legislature’s $95.1 billion budget package, requires the state’s air resources board to gain approval from the governor before linking cap-and-trade systems with other jurisdictions. The board was expected to decide tomorrow on a link with Quebec that would allow companies to use carbon offsets and permits issued by the province to meet California’s greenhouse-gas emissions targets. Dave Clegern, a spokesman for the air resources board in Sacramento, declined in an e-mail to comment on the bill’s approval, saying the agency is “withholding any comment until after the governor signs” the legislation. California, which established a carbon program after U.S. policy makers failed to develop a federal plan, is set to join more than 30 other governments operating emissions-trading programs worldwide next year, including 27 European Union member-states, Norway, Switzerland and New Zealand, as well as Quebec. The state’s air board has supported a link with Quebec to strengthen its carbon market and drive down emissions by larger volumes.
Thursday, June 28, 2012
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