Cap-and-Trade in California
California's Global Warming Solutions Act, known as AB 32, calls for reducing statewide greenhouse gas emissions to 1990 levels by 2020.1 This ambitious goal demands that California explore every opportunity to reduce emissions throughout the economy and in every community, while being sensitive to potential adverse impacts on the state's most vulnerable citizens.
While the rest of the nation debates pathways to an efficient and equitable climate policy, California's Air Resources Board (ARB) is tasked with detailing a cap-and-trade program that will cover 85 percent of statewide emissions by 2020. Cap-and-trade and a portfolio of complementary measures are expected to yield reductions of 150 MtCO2e in 2020 compared to status quo conditions.2
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