The California Air Resources Board (CARB) has posted the final board resolution regarding the adoption of the proposed California Cap on Greenhouse Gas Emissions and Market-Based Compliance Mechanisms Regulations, including Compliance Offset Protocols. Resolution 10-42 results from CARB’s December 16, 2010, meeting where the resolution was adopted.
Though dated December 16, 2010, the resolution has been revised to reflect changes approved by board members at that meeting. The specified modifications will be completed through a series of 15-day rulemakings, including workshops. The program is set to take effect on January 1, 2012, therefore, the final regulation must be submitted to the Office of Administrative Law before October 28, 2011.
The cap-and-trade regulation will set the limit on greenhouse gas (GHG) emissions from sources responsible for approximately 85 percent of California’s total GHG emissions. The mechanism is intended to control GHGs from major emission sources, or covered entities, by setting a “cap” on the GHG emissions while at the same time employing other methods to achieve the emissionreduction goals. After the program begins in 2012, the cap will gradually decrease over subsequent years to achieve further emission reductions during the latter part of the program.
Final Board Resolution 10-42 as well as other information pertaining to California’s cap-and-trade program can be found here.