California Air Resources Board adopts GHG cap-and-trade program; first auctions slated for Aug/Nov 2012
Green Car Congress
OCTOBER 21, 2011
The regulation sets a statewide limit on sources responsible for 85% of California’s greenhouse gas emissions and establishes a price signal needed to drive long-term investment in cleaner fuels and more efficient use of energy. The cap then declines about 2% in 2014 and then about 3% annually from 2015 to 2020. business-as-usual.
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