As California accelerates its efforts to reduce greenhouses gases over the next decade, experts are pointing to vulnerabilities in its celebrated cap-and-trade system, weaknesses that could make the state’s goals difficult—even impossible—to reach.
Cap and trade, featuring a market where permission to pollute is bought and sold, is a key mechanism California uses to lower the volume of harmful discharges by industries that are subject to state emissions caps. But as the California Air Resources Board ponders a major retrofitting of the highly complex program, state analysts say that in a little over a decade emissions could soar much higher than the legally binding level. Read More
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