CARB Holds Latest Auction of Greenhouse Gas Allowances
February 23, 2017
The California Air Resources Board offered the first 2017 auction of greenhouse gas emissions on Wednesday. The auction was held in conjunction with Quebec’s cap and trade system. As of press time Thursday, results were not yet available. They will be posted online here.
CSAC supports additional cap and trade resources to help reduce greenhouse gas emissions at the local level. The Governor’s January budget proposal includes a $2.155 billion appropriation of cap and trade revenues, but allocation amounts are general and will only be allocated after a two-thirds vote to extend the authorization of the program. Pending litigation has challenged the program’s previous authorization under a majority vote.