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Guest Blogger Alex Jackson: The Way Forward on Cap-and-Trade

Incorporate Elements of SB 775 and AB 378 to Build on a Proven Program

California is in the process of defining the next chapter of its world-renowned climate leadership. Having pioneered a set of policies over the past decade that have put the state on course to meet its greenhouse gas emissions limit in 2020, lawmakers now face the question of what role the state’s cap-and-trade program should play …

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Guest Bloggers Michael Wara and Danny Cullenward: Understanding SB 775: A Realistic Path to Achieving California’s Climate Goals

SB 775 Provides a Strong Carbon Pricing Policy and Addresses Legal and Political Constraints

Two recent Legal Planet contributors have shared concerns about SB 775 over the last several days (Ann Carlson’s piece is here and Dallas Burtraw’s is here). We write here to provide context—economic, legal, and political—to help readers, and perhaps even these respected authors, better understand why the bill proposes to extend and evolve California’s approach …

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Guest Bloggers Amy Vanderwarker and Kay Cuajunco: Equity at the Center: SB 775 and AB 378 Create New Path Towards More Equitable, Effective Climate Policy

By Prioritizing Equity, We Fight Climate Change, Improve Local Air Quality and Public Health, and Deliver Economic Benefits

California is at a crossroads in our strategy to fight climate change. With the current form of cap and trade due to end in 2020, our state is deciding to what extent carbon pricing will play a role in meeting the 2030 targets enacted in 2016, and if so, what the program will look like. …

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Guest Blogger Dallas Burtraw: Three Revisions Not to Overlook in California’s New Cap-and-Trade Proposal, SB 775

The Proposal Would Eliminate Allowance Banking and Offsets, and Add a Border Adjustment Mechanism

The California cap-and trade-program is already the most rigorous and best-designed allowance market in the world. Its purpose is to reduce greenhouse gas emissions that contribute to climate change. But now the program requires adjustments for political and legal reasons. These adjustments will be a vitally important legislative decision – for the state and the …

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“California Alone” Should Not Govern State Climate Policy

SB 775 Turns California Inward and Diminishes Its Role As Global Leader

Last week, Senator Bob Wieckowski (D-Fremont) introduced a new bill, SB 775, that would replace California’s cap-and-trade system with a new approach to regulating California’s greenhouse gas emissions beginning in 2021.  There is much to admire in the new bill, including an aggressive pricing approach that would ensure that California’s carbon price remains high.  The …

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The Future of California’s Greenhouse Gas Cap and Trade Program After 2020: A Conversation

Posts on Legal Planet Over the Coming Week, Linked Here, Will Address Pending California Legislation on Cap and Trade from Multiple Perspectives

This post is the preface to a series of posts by multiple authors (including guests) over the coming week (starting May 9) about the future of the state’s cap and trade program for greenhouse gases.  Two bills, AB 378 and SB 775, are being debated by the environmental and environmental justice communities, and our bloggers …

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Ronald Reagan – Environmentalist Governor

Reagan’s record in California included major environmental achievements.

It may surprise you to learn this — it certainly surprised me. But Ronald Reagan has been called “the most environmental governor in California history — protecting wild rivers from dams, preserving a Sierra wilderness by blocking highway builders, creating an air resources board that led to the nation’s first auto smog controls.” This may …

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The trouble with resource shuffling

Federal Energy Regulatory Commission (FERC) Chairman Jon Wellinghoff recently voiced concern that California’s cap-and-trade program could lead to unforeseen consequences that would upset energy markets. He was speaking about resource shuffling, and echoing a letter his fellow Commissioner sent to the California Air Resources Board (CARB) in August. What is resource shuffling? According to CARB, …

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Guest Bloggers Erica Morehouse and Tim O’Connor of Environmental Defense Fund: 9th Circuit Allows CARB to Enforce the LCFS

(It’s exam season; so, for any remedies students out there this post can count as review!) On Monday, a motions panel at the 9th Circuit Court of Appeals ruled that the California Air Resources Board (CARB) can continue enforcing the Low Carbon Fuel Standard (LCFS).  This decision stayed (pending appeal) a trial court judge’s preliminary …

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Allowance distribution in California’s cap-and-trade program (Part I)

Yesterday, I described California’s GHG cap-and-trade auction and the likely constraints on the auction clearing price. Today I want to switch gears to the allowance distribution. As summarized in our recent paper on California’s auction revenue, once you know the number of allowances available at auction and the auction clearing price, you can estimate revenue. …

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