Cap-And-Trade Deal Struck
Sacramento, CA — Governor Jerry Brown and legislative leaders have hammered out a deal to extend California’s cap-and-trade program through 2030, but it will need two-thirds backing from lawmakers.
The lawmakers could vote on the deal as early as Thursday. The agreement updates the use of pollution offsets and allowances and allows the state Air Resources Board to set a price ceiling on pollution permits while preventing local air districts from placing additional carbon emission regulations on refineries and other polluters.
Environmental justice groups claim oil companies are getting too many concessions through the deal.
The state’s cap-and-trade program limits total greenhouse gas emissions and requires businesses to purchase or trade allowances in order to pollute. The goal is to reach a 40 percent reduction from 1990 emissions levels by 2030. The program is set to expire in 2020 if lawmakers don’t renew it.