Duke University Energy Initiative interim director Brian Murray will moderate an interactive webinar addressing California's efforts to define the next chapter of its innovative greenhouse gas cap-and-trade program.
REGISTER FOR THE WEBINAR. (Registration is free. Note that time listed is EDT.) UPDATE: Registration has maxed out at 500 participants. You can still sign up to be added to the waitlist. We will also be releasing a video of the webinar after the fact.
Last year California adopted legally binding emissions reduction goals of 40 percent from 2020 to 2030, but the role of cap-and-trade in meeting this target is uncertain. This summer the California legislature is considering what that role should be. A number of important issues are likely to emerge that, if implemented in some form, could well affect the functioning of the California program in the next decade. These issues include the following possibilities:
- Facility specific requirement of emissions reductions in order to address environmental justice concerns;
- Limitations on the banking of allowances;
- Limitations on the use of offset credits;
- Incorporation of a strict price collar to limit the range of allowance prices;
- Border price adjustment mechanism or other measures to address leakage; and
- Changes in the allocation of allowance value to various parties.
These changes could have important and possibly destabilizing spillover effects with jurisdictions linked to the California program, including Quebec (currently linked) and Ontario (which plans to link next year).
Register now to join us on July 18 at 12 p.m. EDT for an interactive online panel discussion on the proposed features of these competing pathways for the California cap-and-trade program, what modifications or amendments may be considered as they work through the legislative process, potential implications for the California carbon market, and the potential effects on linkage with Quebec and Ontario and other jurisdictions that might consider linkage in the future.
Stewart Elgie (Smart Prosperity Institute and uOttawa Institute of Environment) and Brian Murray (Duke University Energy Initiative and Nicholas Institute for Environmental Policy Solutions)
Brian Murray (Duke University Energy Initiative and Nicholas Institute for Environmental Policy Solutions)