Regional Greenhouse Gas Initiative to Lower Emissions Cap
As predicted earlier, the U.S. Northeast’s cap-and-trade program, RGGI (Regional Greenhouse Gas Initiative) will reduce its cap, which was above current pollution levels. The inflated cap depressed the RGGI permit price for carbon credits to under $2, way below the projected $20-$30 (causing New Jersey’s Chris Christie to pull New Jersey out of RGGI). The … Continue reading
Court Rejects Challenge to California’s Carbon Offsets Program
A California state judge in San Francisco has rejected a challenge to California’s carbon offsets program, ruling that regulators have the authority to include the mechanism in the cap-and-trade program for greenhouse gases. San Francisco Superior Court Judge Ernest Goldsmith ruled Friday that the state Air Resources Board was authorized to use offset protocols under the guidelines … Continue reading
California GHG Emissions Auction Part of the Cap and Trade Program Challenged by the Chamber
California’s largest business lobby filed a lawsuit yesterday seeking to invalidate California’s first greenhouse gas (GHG) emissions allowance auction (part of the California cap and trade program) scheduled for today. The California Chamber of Commerce asserts that AB 32, California’s global warming law, did not authorize the state to raise funds by allocating GHG emissions … Continue reading
