Environment Forum

from The Great Debate:

California tilts towards cap and refund

February 16, 2010


kemp

-- John Kemp is a Reuters columnist. The views expressed are his own --

California is set to auction all or almost all allowances under its emissions trading programme, and rebate up to 75 percent of the proceeds to households through a lump sum payment or reductions in income and sales taxes.
The proposals, contained in a draft recommendation from the Economic and Allocation Advisory Committee (EAAC) to the California Air Resources Board (CARB), are in sharp contrast to the proposed federal programme, stalled in Congress, which would give away most permits to utilities and other energy intensive industries.
Since California's proposed programme is one of the most advanced, and would be the largest and most comprehensive in the country, with links to other states through the Western Climate Initiative (WCI), the decision gives significant impetus to proponents of the cap and refund approach, now emerging as a credible alternative in Congress.
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carbonemission1-- Amanda Williams Palmer is the editor of Reuters’ European Venture Capital and Private Equity Journal (EVCJ). The opinions expressed are her own. --