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Cap and Trade Auction

[Summary]Cap-and-Trade Program | California Air Resources Board The AB 32 Scoping Plan identifies a cap-and-trade program as one of the strategies California will employ to reduce the greenhouse gas (GHG) emissions that cause climate change. This program will

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Cap-and-Trade Program | California Air Resources Board

The AB 32 Scoping Plan identifies a cap-and-trade program as one of the strategies California will employ to reduce the greenhouse gas (GHG) emissions that cause climate change. This program will help put California on the path to meet its goal of reducing GHG emissions to 1990 levels by the year 2020, and ultimately achieving an 80% reduction from 1990 levels by 2050. Under cap-and-trade, an overall limit on GHG emissions from capped sectors will be established by the cap-and-trade program and facilities subject to the cap will be able to trade permits (allowances) to emit GHGs.

November Cap-and-Trade Auction Results

November Cap-and-Trade Auction Results

December 1, 2016

Auction Generates About $365 Million In State Revenue. The Air Resources Board (ARB) released a summary of the results from the most recent quarterly cap-and-trade auction held on November 15, 2016. Based on the preliminary results, the state will likely generate about $365 million in revenue from the auction. As shown below, this amount is substantially more than what the state received from the May 2016 and August 2016 auctions ($10 million and $8 million, respectively), but is still less than the amount generated from earlier auctions (over $500 million each). Over 80 percent of the total number of allowances offered for sale were purchased—including allowances owned by utilities. This is considerably more than the May 2016 and August 2016 auctions (11 percent and 32 percent, respectively). All allowances were purchased at the minimum price established by ARB—$12.73.

Emissions trading

Green accounting

Green economy

Green trading

Eco commerce

Environmental enterprise

Fiscal environmentalism

Environmental finance

Renewable energy

Sustainable tourism

Environmental tariff

Net metering

Environmental pricing reform

Pigovian tax

Renewable energy commercialization

Marginal abatement cost

Green paradox

Green politics

California Cap and Trade | Center for Climate and Energy Solutions

Download our California Cap-and-Trade Brief as a PDF

California recently launched its cap-and-trade program, which uses a market-based mechanism to lower greenhouse gas emissions. California’s program is second in size only to the European Union’s Emissions Trading System based on the amount of emissions covered. In addition to driving emission cuts in the ninth largest economy in the world, California’s program will provide critical experience in how an economy-wide cap-and-trade system can function in the United States.

California’s Cap-and-Trade Bubble

California’s Cap-and-Trade Bubble: The carbon-credit market sputters, as it also has in Europe.

With cap and trade in doubt, key questions go unanswered

Cap and Trade Auction

<p>In Sacramento and elsewhere, fundamental questions about the program’s effectiveness are unanswered</p>

High-speed rail takes hit as cap-and-trade cash falls short

Photo: Gary Kazanjian, Associated Press

Construction continues on the Cedar Viaduct for the high-speed rail system in South Fresno in Madera County in October 2016.

Construction continues on the Cedar Viaduct for the high-speed rail system in South Fresno in Madera County in October 2016.

Photo: Courtesy California High Speed Rail Assn.

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