Calif. creates carbon cap-and-trade system

Oct. 21, 2011 at 12:50 PM
| License Photo

SACRAMENTO, Oct. 21 (UPI) -- California has adopted landmark regulations of greenhouse gas emissions to curb climate change and meet targets for reducing pollution, officials said.

The California Air Resources Board unanimously adopted the nation's first state-administered cap-and-trade regulations Thursday, the Los Angeles Times reported.

The cap-and-trade system sets a price on heat-trapping greenhouse gas pollution to allow California's dirtiest industries to trade carbon credits, the newspaper said.

Beginning in 2013 the state's largest carbon emitters will be required to meet the state's carbon reduction targets or buy credits if they cannot.

At a meeting of the air board in Sacramento a parade of industry representatives called the system anti-business while others called it historic and groundbreaking.

"We've done something important," Chairwoman Mary Nichols said after board's unanimous vote to approve the program.

"Cap-and-trade is a new tool that for the first time allows us to reward companies for doing the right thing," she said.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
10-month-old Turkish baby rescued after floating out to sea
Immigrant who shot S.F. woman was deported 5 times in the past, police say
Putin congratulates U.S. on Independence Day
Wisconsin's Walker in hot seat over open-records restrictions
5-year-old Florida girl killed by leaping sturgeon