THe Chinese government announced its intent to create a national emissions trading scheme to “limit and reduce” emissions in a “cost effective” manner. The system is to begin operation in 2021 and will initially cover emissions from coal and gas
California adopts SB32 setting 2030 emissions target
With the achievement of the 2020 GHG emissions targets set in 2006, SB32 adopted new targets, committing the state to reducing GHG emissions to 40% below 1990 levels by 2030.
California enacts the Global Warming Solutions Act of 2006 (AB32)
The enactment of AB32 committed California to reduce GHG emissions to 1990 levels by 2020. The legislation empowered the California Air Resources Board to adopt regulations that would achieve “the maximum technologically feasible and cost-effective GHG emission reductions”. With this
Waxman-Markey Bill passed in US House of Representatives
The landmark American Clean Energy and Security Act, also known as the Waxman-Markey for its authors and sponsors, Henry Waxman (CA) and Ed Markey (MA), passed in the US House of Representatives. It was blocked and never voted on in
Regional Greenhouse Gas Initiative (RGGI) Launched
Seven Northeast states agreed to establish a mandatory cap & trade system covering emissions from the electric power sector. RGGI was the first such mandatory carbon market in the United States.