California Adopts Cap-and-Trade

Cap-and-trade might be dead at the national level, but California has become the first state to institute the carbon-limiting program. The California Air Resources Board unanimously voted to adopted the set of pollution controls, beginning a program that will put a price on carbon emissions by allowing California industries to trade carbon credits. Cap-and-trade is at the center of California's climate change law aiming to reduce carbon emissions to 1990 levels by 2020. Proponents of climate legislation hope California will serve as a model for other states.