cap and trade
California’s first cap-and-trade auction of greenhouse gas allowances on November 14 was a huge success, with all of the permits allotted for this year being sold, according to the California Air Resources Board.
California’s cap-and-trade program—a market designed to reduce greenhouse gas emissions by allowing emitting companies to buy and sell credits in order to stay below the emissions limit set by the government—is set to begin in November.
The California Air Resources Board has voted again to maintain the creation of the state’s cap-and-trade program, reports the LA Times.
California’s carbon-trading program, set to launch in January 2012, will now be delayed until 2013, according to the LA Times.