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The California Air Resources Board (CARB) staff is holding a workshop today on additional details that were recently announced for California’s cap-and-trade program. These details on allowance allocation, reporting, verification, and other aspects of the program, and the recent announcement on the program’s timing by CARB Chairman Mary Nichols are important, since they show that California is taking the time needed to get it right.

What happens with this program is important for U.S. greenhouse gas (GHG) emission reductions – California represents one-eighth of the U.S. economy and the program will place a price on carbon for 85 percent of its emissions. In the absence of a comprehensive federal climate policy, state-level and regional actions like these will be key drivers for achieving GHG emission reductions in the U.S. in the near term.

More than Meets the Eye

The Social Cost of Carbon in U.S. Climate Policy, in Plain English

This policy brief explains the various steps in calculating the social cost of carbon, the weaknesses and strengths of those calculations, and how they are used to inform climate policy. The aim is to help policymakers, regulators, civil society, and others judge for themselves the reliability...

Today, the government of the United Kingdom took a significant step to shift to a low-carbon economy, providing clear signals to investors that the UK wants to host large-scale clean energy projects moving forward.

The agreement announced today takes the form of a legally binding target to reduce greenhouse gas emissions 50 percent below 1990 levels by 2025, as part of the country’s fourth carbon budget. The agreement of the country’s conservative and liberal democrat parties extends current targets and continues the country on an aggressive reduction path from 2023-2027.

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