Webinar: The Future of California’s Cap and Trade Program—Policy Choices and Implications for Cross-Border Linkage
Brian Murray of the Nicholas Institute for Environmental Policy Solutions and the Duke University Energy Initiative (DUEI) will moderate a webinar featuring a panel discussion on the future of California’s Cap-and-Trade Program, July 18, 12–1:15 p.m.
The webinar co-hosted by the Nicholas Institute, DUEI, the Smart Prosperity Institute, the University of Ottawa Institute of the Environment, and Resources for the Future will explore the next chapter of California's innovative greenhouse gas trading program. Last year the state adopted a legally binding 40 percent emissions reduction goal for 2020 to 2030, but the role of cap and trade in meeting this target is uncertain. This summer the California legislature is considering what that role should be. Important program changes could include facility-specific emissions reductions requirements to address environmental justice concerns, limitations on the banking of allowances, limitations on the use of offset credits, a strict price collar to limit the range of allowance prices, a border price adjustment mechanism or other tools to address emissions leakage, and changes in the allocation of allowance value to various parties. These changes, if implemented, could have possibly destabilizing spillover effects on jurisdictions linked to the California program, including Quebec (currently linked) and Ontario (which plans to link next year).
Webinar panelists will discuss the proposed features of competing pathways for the California program, the modifications or amendments that may be considered during the legislative process, potential implications for the California carbon market, and the potential effects on existing and future linkages with other jurisdictions.