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What is California's cap and trade program?
Does California's cap and trade program meet climate goals?
Does California have a cap-and-trade program?
Does California have a carbon cap & trade program?
Cap and trade. In 2018, California spent $1.4 billion raised from its cap and trade program to reduce greenhouse gas emissions, out of $3.4 billion spent cumulatively since 2012; notable projects include California High-Speed Rail and the Clean Vehicle Rebate for low-emission vehicles.
Overview. California’s cap-and-trade program, launched in 2013, is among a suite of major policies the state is using to lower its greenhouse gas emissions. California’s emissions trading program is the fourth largest in the world, following the cap-and-trade programs of China, the European Union, and the Republic of Korea.
Emissions trading is a market-based approach to controlling pollution by providing economic incentives for reducing the emissions of pollutants. [1] The concept is also known as cap and trade (CAT) or emissions trading scheme (ETS).
Feb 28, 2011 · The Cap-and-Trade Program is a key element of California’s strategy to reduce greenhouse gas emissions. It complements other measures to ensure that California cost-effectively meets its goals for greenhouse gas emissions reductions. More about this program.
The California Cap-and-Trade program was created by CARB as a market mechanism to reach GHG emission reduction targets established in AB-32. There currently is a Cap-and-Trade program in California, though it is not directly required under SB-32, which simply establishes a clear emissions reduction goal.
Oct 24, 2023 · Cap-and-trade is one of the state’s key policies intended to reduce statewide GHG emissions. Under the program, the California Air Resources Board (CARB) is tasked with setting a declining, aggregate cap on the amount of GHGs allowed to be emitted in the state each year.
Feb 16, 2021 · Launched in 2013, California’s cap and trade program is the nation’s first economy-wide carbon market. The program sets a declining cap on greenhouse gas emissions that polluters — including oil refineries, power plants and manufacturers — can meet by buying and trading carbon credits or updating their facilities.