Industries regulated under California’s cap-and-trade program reduced greenhouse gas emissions by nearly 5% in 2016, according to new data released by state officials.
Richard Corey, executive director of the California Air Resources Board, said the numbers show the state is on track to meet its emission-reduction targets in 2020 and 2030.
“This is also further proof that cap-and-trade is now part of the fabric of the California economy,” he said in a statement.
The cap-and-trade program requires oil refineries, food processors and other industries to purchase permits to release emissions into the atmosphere, a system intended to create a financial incentive to cut pollution. Gov. Jerry Brown signed legislation this summer to extend the program until 2030.
View Article