California has debuted a new cap-and-trade program that auctions greenhouse gas pollution permits. While there has been a lot of attention regarding the California program, there has been a similar program in place in the Northeast for several years.
The Associated Press characterized the California cap and trade emissions initiative as “landmark”. CBS called it the “most wide-ranging of its kind in the nation”. The website for an NBC station in San Diego claims California is the first state in the nation to try to lower green house gas emissions via cap and trade and that it would be a national model. But a model program already exists. Since 2008, Northeast states have participated in the Regional Greenhouse Gas Initiative to control carbon dioxide allowances. The Adirondack Council buys allowances during the quarterly auctions. Spokesman John Sheehan says the California and Northeast programs are similar.
ENE-Environment Northeast Director of Market Initiatives Peter Shattuck.
John Sheehan says RGGI has set a tone and hopes the entire country will move to similar cap and trade programs.
ENE-Environment Northeast reports that Quebec plans to launch a cap and trade program in 2013 and then link with California’s economy wide model in 2014.