California approves extension to cap-and-trade program.

摘要

In the US, the California legislature passed a bill on July 18 extending the state's cap-and-trade program by a decade through 2030. The new bill limits the use of offsets to 4 of a company's compliance obligation, half of which must provide direct environmental benefits in the state. The use of offsets would increase to 6 in 2026, which is still below the 8 figure allowed under the current program which runs to 2020. The new bill also extends free allowance allocations for certain industries, but gradually reduce those allocations by 40 to 2030. The California cap-and-trade program aims to reduce GHG emissions by 40 from 1990 levels by 2030.