On Tuesday, Governor Brown announced a plan led by the California Air Resources Board (ARB) to extend cap-and-trade beyond its current expiration in 2020, to 2050. As nicely summarized by Utility Dive:
- California Gov. Jerry Brown has announced that the California Air Resources Board (CARB) has proposed a plan to extend the state’s cap-and-trade program through 2050.
- The amended program would set decreasing emissions caps for covered entities through 2031, to reach 40% reductions in carbon dioxide emissions below 1990 levels.
- Under the recommended changes the program, which is already linked to a similar program in Quebec, California’s carbon trading market would also link with Ontario’s cap-and-trade program in January 2018.
Read more on the effort from the Los Angeles Times, or get more from Utility Dive – including other western states’ movements toward a cap and trade system. Read the new plan from ARB here. Or, get more on cap and trade and the Greenhouse Gas Reduction Fund (GGRF).