Amendments to the California Cap on Greenhouse Gas Emissions and Market-based Compliance Mechanisms Regulation

Amendments to the California Cap on Greenhouse Gas Emissions and Market-based Compliance Mechanisms Regulation

Note: FED The proposed amendments include CARB staff's proposal to amend the Cap-and-Trade Regulation to make the Program consistent with AB 398 requirements and respond to Board direction. Specifically, the proposed amendments would update existing provisions to ensure appropriate allowance allocation to provide transition assistance and minimize emissions leakage, clarify allowed use of allocated allowance value, add a price ceiling and two Reserve tiers post-2020, revise quantitative offset usage limits and implement "direct environmental benefits in the state" (DEBS) provisions for offset credits, establish a process to assess compliance obligations for GHG emissions associated with electricity imported through the Energy Imbalance Market (EIM), and enhance CARB's ability to implement and oversee the Regulation.

Statewide

Cal Fire, California Department of Conservation (DOC), California Department of Fish and Wildlife, Habitat Conservation Planning (CDFW), California Department of Parks and Recreation, California Department of Transportation, Division of Transportation Planning (DOT), California Native American Heritage Commission (NAHC), California Public Utilities Commission (CPUC), Caltrans, Division of Aeronautics, Department of Toxic Substances Control, Department of Water Resources, Office of Emergency Services, California, Resources Agency, Resources, Recycling and Recovery, State Water Resources Control Board, Division of Water Quality