Our group is covering the CA Cap and Trade program this week and we were curious about the overall success of the program. Coincidentally, we came across an article that was published on October 9th, 2017 titled, “Refining California’s Cap and Trade Program: Plan Accordingly,” by Jerry Bloom and Andrew Mayer on Environmental Leader. On July 25th, 2017, California Governor Jerry Brown signed the Assembly Bill 398 to extend the program from the initial 2020 to 2030. However, this modification brings additional rules to the renewed CA Cap and Trade program. One change is that there will be price ceilings on allowances so that companies can enjoy consistency when buying shares of it. Another change is that this new program reduces the amount of greenhouse gas (GHG) offsets that may be bought by other companies. Before the Assembly Bill 398 was passed, companies were allowed to buy up to 8% of their original emission capacity, but now, they are only allowed to buy up to 4% from 2021 to 2025 and up to 6% from 2026 to 2030.
Do you think that these new policy changes are more beneficial for businesses or for the environment?
Article Link: https://www.environmentalleader.com/2017/10/refining-californias-cap-trade-program/
Group Members: Hidetoshi Ikeda, Elyse Van Bebber, Camila Tipan, Melissa Kaidin, Sasicha Peechapol
Group Members: Hidetoshi Ikeda, Elyse Van Bebber, Camila Tipan, Melissa Kaidin, Sasicha Peechapol
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