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California Regulators Approve Design for Carbon Trading System

California air regulators approved the final design for what will become the country’s first economy-wide program to regulate greenhouse gas emissions.

The Air Resources Board approved 252 pages of rules governing how the state will cut carbon emissions from power generators, oil refineries and industrial plants roughly 15 percent by 2020. The plan will now be reviewed by the state Office of Administrative Law.

“This is the most important experiment for the rest of the country to watch,” Ann Carlson, faculty director of the Emmett Center on Climate Change and the Environment at the University of California, Los Angeles. “It’s less about California and more about what an impressively designed program can prove to the country.”

To read the full article by Lynn Doan and James Dash click here.