Air Panel Backs State Carbon Trust Fund

By Published On: February 1, 2008

An advisory committee to the California Air Resources Board is expected to recommend that the state establish a “carbon trust” fund to help carry out its landmark climate change law, AB 32. Known as the Economic and Technology Advancement Advisory Committee, the panel may make that and other final recommendations at a February 11 meeting. The fund would provide money for research, development, and demonstration of low- and no-carbon technologies, intervention in any carbon market to prevent price volatility, and carbon emissions reduction projects, particularly those with “co-benefits” like reducing smog-forming pollution and creating jobs. The committee recommended that the fund become operational by 2012. California’s global warming law gives the Air Board four years to develop and enforce rules aimed at cutting the state’s greenhouse gas emissions to their 1990 level by 2020. Initially, the carbon trust fund would be created with the proceeds of an auction of emissions rights under the law. Editor’s note: For more on the carbon trust fund, please see our sister publication, E=MC2, Energy Meets Climate Challenge: energymeetsclimate.com.

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