California’s Greenhouse Gas (GHG) cap-and-trade program is a key element of the suite of policies the State has adopted to achieve its climate policy goals. The passage of AB 398 (California Global Warming Solutions Act of 2006: market-based compliance mechanisms) extended the use of the cap-and-trade program for the 2021-2030 period, while also specifying modifications of the program’s “cost containment” structure and directing CARB to “[e]valuate and address concerns related to overallocation in [ARB’s] determination of the allowances available for years 2021 to 2030.” The changes being considered by CARB will not only affect the program’s stringency, but also its performance by affecting the ability of the “cost containment” structure to mitigate allowance price volatility and the risk of suddenly escalating allowance prices.
Key Issues Facing California’s GHG Cap-and-Trade System for 2021-2030
This white paper addresses key design issues that were identified by the legislature in AB 398 and have been identified by CARB in its “Preliminary Concepts” white paper.
Working Paper by Todd Schatzki and Robert Stavins — July 31, 2018Download
Press Release — Nov 26, 2019
New Episode of Resources Radio: “Waive Goodbye? The History and Future of the California Waiver, with Emily Wimberger”
Emily Wimberger provides an overview of the California waiver, and what it would mean for state and national environmental policy if it were revoked.
Waive Goodbye? The History and Future of the California Waiver, with Emily Wimberger
Emily Wimberger provides an overview of the California waiver―its history, why the Trump administration is moving to revoke it, and the broader impact it has on US environmental policy.
Working Paper — Nov 20, 2019
California’s Evolving Zero Emission Vehicle Program: Pulling New Technology into the Market
California’s Zero Emission Vehicle program was created to bring electric vehicles to the market. The program has succeeded in some ways and struggled in others, and new major changes to the requirements will require more cost-effective, consistent approaches than have been used in the past.