Summary
As of last year, the Golden State, California, has launched its long-discussed market-based system to reduce
the usage of greenhouse gas emissions. This is one of many attempt to reduce GHG, but it is no easy task. The
Cap-and-Trade system uses demand and price to reward companies for reducing pollution below a set level.
The "cap" gradually decreases over time to minimize the amount of GHG released until the main goal has been
achieved. If all goes as planned, the amount will rid of 2-3% annually until 2020 where the goal will be achieved.
This act has allows companies to emit GHGs through permits, and one permit allows the owner to emit 1 ton of CO2
in a year. The first auction for permits took place on Nov. 14, 2012 where 10.6 million permits were sold. Over 90% was
given for free to help businesses get accustomed to the new act. Many of the main GHG like carbon dioxide and nitrous
oxide are being reduced to an all time low due to this new act.
As of last year, the Golden State, California, has launched its long-discussed market-based system to reduce
the usage of greenhouse gas emissions. This is one of many attempt to reduce GHG, but it is no easy task. The
Cap-and-Trade system uses demand and price to reward companies for reducing pollution below a set level.
The "cap" gradually decreases over time to minimize the amount of GHG released until the main goal has been
achieved. If all goes as planned, the amount will rid of 2-3% annually until 2020 where the goal will be achieved.
This act has allows companies to emit GHGs through permits, and one permit allows the owner to emit 1 ton of CO2
in a year. The first auction for permits took place on Nov. 14, 2012 where 10.6 million permits were sold. Over 90% was
given for free to help businesses get accustomed to the new act. Many of the main GHG like carbon dioxide and nitrous
oxide are being reduced to an all time low due to this new act.
Reflection
This new act is enforcing large GHG emitters to reduce the amount of GHG to an acceptable rate.
Our main goal is tohaving a cleaner environment with this new act. I greatly support this new idea
for a cleaner and brighter future. With moreeducation, we will push for a much environmentaly-clean
future and better world for us.
http://ogoapes.weebly.com/uploads/3/2/3/9/3239894/californias_second_carbon_auction_today_an_explainer_on_cap-and-trade__plugged_in_scientific_american_blog_network.pdf
This new act is enforcing large GHG emitters to reduce the amount of GHG to an acceptable rate.
Our main goal is tohaving a cleaner environment with this new act. I greatly support this new idea
for a cleaner and brighter future. With moreeducation, we will push for a much environmentaly-clean
future and better world for us.
http://ogoapes.weebly.com/uploads/3/2/3/9/3239894/californias_second_carbon_auction_today_an_explainer_on_cap-and-trade__plugged_in_scientific_american_blog_network.pdf