SACRAMENTO, California — Talks to reauthorize California’s landmark greenhouse gas trading system will encompass a broad range of options, one of the main lawmakers leading negotiations said Tuesday.
What happened: Assemblymember Jacqui Irwin, chair of the Legislature’s Joint Committee on Climate Change Policies and head of the Assembly’s and cap-and-trade working group, said lawmakers were “looking very carefully” at changes to the program, including cost-containment, offsets and the spending of auction proceeds from the state’s Greenhouse Gas Reduction Fund.
She also laid out a timeline: by the end of the legislative session in September.
“We want to take a good, robust look both at the mechanism and GGRF spending,” Irwin said, speaking at the California Climate Policy Summit hosted by environmental group The Climate Center. “We hope to get it done by the end of this year.”
