Sacramento - California has taken a major step toward creating a broad-based trading system to limit emissions of pollutants blamed for harmful climate change.

The California Air Resources Board, often a trailblazer in environmental regulation, released a draft rule this week establishing a cap-and-trade program that sets a declining ceiling on emissions of greenhouse gases and allows companies to buy and sell permits to meet it.

California’s goal is to reduce greenhouse gas emissions to 1990 levels by 2020. The proposed system would begin in 2012 with 600 major sources of global warming pollutants, including power plants, refineries and concrete factories.
Similar proposals to reduce emissions are stalled in Congress with little hope of moving through this year. (Source: New York Times)

Story Date: September 2, 2010