California issues draft of cap-and-trade legislation

Nov 30, 2009 | 07:28 AM | Lisa Gordon

A preliminary draft of a proposed cap-and-trade program has been published by the state of California.

A state law requires California to reduce greenhouse gas emissions to 1990 levels by 2020. It also calls for the state to create a regional cap-and-trade program with other partners in the Western Climate Initiative (WCI), an alliance of seven western states and four Canadian provinces that have joined together to find mutual ways to reduce greenhouse gases in the region.

The draft proposal calls for a 2012 startup date that would impact 600 of California's largest carbon emitters, including industrial sources and electricity generators. Iron, steel and aluminum production are specifically named.....

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