Ecology Law Currents, ELQ’s online companion, features lively short-form commentary. Check out the latest, an analysis of California’s cap-and-trade program. Author Penni Takade argues that the program has two key weaknesses:
The first weakness is the process of allocation for GHG allowances to regulated firms. Under California’s allocation process, cap and trade will exacerbate economic inequities and raise the total cost of the program. A new lawsuit threatens to increase those inequities and costs to the state, if successful.
The second weakness is counterintuitive: cap and trade programs do not induce technological innovation, yet California requires significant technological innovation to achieve emissions reductions goals. Section III.C. discusses the market failures in cap and trade, which preclude serious inducement of technological innovation. That section goes on to specify what California must do to correct these failures in pursuit of that innovation. When used in combination with the cap and trade program, these strategies will increase the effectiveness of California’s overall climate change mitigation plans.
And consider submitting a short piece to Currents for quick publication.