AB 32 Seen As Boon to Carbon Trading

Trading global warming gas emission credits is seen as key to reaching the reduction targets set out in the newly enacted bill to curb emissions of the six greenhouse gases, according to Evolution Markets, which offers brokerage and consulting services. AB 32 requires a 25 percent cut in California by 2020. The measure opens the door to, but does not mandate, a cap-and-trade market, unlike the East Coast states' Regional Greenhouse Gas Initiative, which limits CO2 emissions from the power sector. "Given the ambitious cap proposed in California, [carbon] trading may be essential to meeting this goal," stated an October 11 brief by Evolution Markets. AB 32 requires the Air Resources Board by July 2007 to develop a list of potential measures to decrease greenhouse gases that will help meet the reduction goals beginning in 2010. Rules for mandatory reduction measures will be released in 2009 and begin to go into effect in 2012. "[I]t is clear that California is initiating an ambitious scheme that will undoubtedly bring added vigor to the GHG trading in the U.S.," concluded Evolution's brief. - E. McC.

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AB 32 Seen As Boon to Carbon Trading

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