MoreOn Oct. 20, 2011, the California Air Resources Board (ARB) adopted the final version of the state's cap-and-trade regulation, which will significantly reduce the state's greenhouse gas (GHG) emissions throughout the coming years in order to improve the state's environmental conditions and climate for current and future residents.
The final regulation will be filed with the California Office of Administrative Law (OAL) on or before Oct. 28, 2011.
According to the AB 32 Scoping Plan, California is set to implement a cap-and-trade program in order to considerably reduce the state's greenhouse gas (GHG) emissions - by up to 80 percent by 2050, in comparison to 1990 levels.
The cap-and-trade program will implement a limit in which facilities and sectors, subject to the cap, can legally emit GHGs.
In doing so, the state is hopeful that emissions will ultimately be reduced to 1990 levels by 2020 - an eight year target that many state lawmakers believe can be reached.
Last year, the cap-and-trade rulemaking was initiated through the release of the Staff Report: Initial Statement of Reasons (ISOR). On July 25th, the very first Notice of Public Availability of Modified Text and Availability of Additional Documents was issued. The public comment period for this document ended on Aug. 11, 2011.
As a result of public comments, the notice was modified and re-released as the Second Notice of Public Availability of Modified Text and Additional Documents and Information on Sept. 12, 2011. Public comments were accepted for this notice until Sept. 27, 2011, eventually leading to a final version of the regulation.
The final cap-and-trade regulation, complete with changes as a result of public comments, was adopted on Oct. 20, 2011.
This regulation will now be filed with the California Office of Administrative Law either on or before Oct. 28, 2011 and will be fully utilized in 2012.
For further information in regards to the cap-and-trade regulation, including its final version, please visit this link.
The final regulation will be filed with the California Office of Administrative Law (OAL) on or before Oct. 28, 2011.
According to the AB 32 Scoping Plan, California is set to implement a cap-and-trade program in order to considerably reduce the state's greenhouse gas (GHG) emissions - by up to 80 percent by 2050, in comparison to 1990 levels.
The cap-and-trade program will implement a limit in which facilities and sectors, subject to the cap, can legally emit GHGs.
In doing so, the state is hopeful that emissions will ultimately be reduced to 1990 levels by 2020 - an eight year target that many state lawmakers believe can be reached.
Last year, the cap-and-trade rulemaking was initiated through the release of the Staff Report: Initial Statement of Reasons (ISOR). On July 25th, the very first Notice of Public Availability of Modified Text and Availability of Additional Documents was issued. The public comment period for this document ended on Aug. 11, 2011.
As a result of public comments, the notice was modified and re-released as the Second Notice of Public Availability of Modified Text and Additional Documents and Information on Sept. 12, 2011. Public comments were accepted for this notice until Sept. 27, 2011, eventually leading to a final version of the regulation.
The final cap-and-trade regulation, complete with changes as a result of public comments, was adopted on Oct. 20, 2011.
This regulation will now be filed with the California Office of Administrative Law either on or before Oct. 28, 2011 and will be fully utilized in 2012.
For further information in regards to the cap-and-trade regulation, including its final version, please visit this link.
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