California Panel Urges Strengthening Cap & Trade To Meet GHG Targets

An expert panel is urging California policymakers to strengthen the state’s greenhouse gas cap-and-trade program to help achieve climate objectives, finding in part that because regulated entities have already banked hundreds of millions of credits for future use, they are unlikely to be required to reduce actual future pollution to help meet a 2030 state target. “All told, some 321 million allowances were banked into the market’s post-2020 period, equal to more than the emissions reductions expected from the program...