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Key Issues Facing California’s GHG Cap-and-Trade System for 2021-2030

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  • Stavins, Robert

    (Resources for the Future)

  • Schatzki, Todd

Abstract

California’s Greenhouse Gas (GHG) cap-and-trade program is a key element of the suite of policies the State has adopted to achieve its climate policy goals. The passage of AB 398 (California Global Warming Solutions Act of 2006: market-based compliance mechanisms) extended the use of the cap-and-trade program for the 2021-2030 period, while also specifying modifications of the program’s “cost containment” structure and directing CARB to “[e]valuate and address concerns related to overallocation in [ARB’s] determination of the allowances available for years 2021 to 2030.” The changes being considered by CARB will not only affect the program’s stringency, but also its performance by affecting the ability of the “cost containment” structure to mitigate allowance price volatility and the risk of suddenly escalating allowance prices.

Suggested Citation

  • Stavins, Robert & Schatzki, Todd, 2018. "Key Issues Facing California’s GHG Cap-and-Trade System for 2021-2030," RFF Working Paper Series 18-31, Resources for the Future.
    • Handle: RePEc:rff:dpaper:dp-18-31
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    File URL: https://www.rff.org/documents/2109/CA_GHG_Cap-and-Trade_Price_Provisions_generic.pdf
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    Cited by:

    1. Stavins, Robert, 2019. "The Future of United States Carbon-Pricing Policy," RFF Working Paper Series 19-11, Resources for the Future.
    2. Jesse M. Keenan & Anurag Gumber, 2019. "California climate adaptation trust fund: exploring the leveraging of cap-and-trade proceeds," Environment Systems and Decisions, Springer, vol. 39(4), pages 454-465, December.
    3. Robert N. Stavins, 2020. "The Future of US Carbon-Pricing Policy," Environmental and Energy Policy and the Economy, University of Chicago Press, vol. 1(1), pages 8-64.

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