The new regulations include, among many things, strong preliminary support for sub-national RED international emissions reductions.
Just before passing the new rules (resolution 1043), many CARB board members highlighted that more work lays ahead, in terms of details, the operation of a market, protocols, and oversight. The overarching suggestion from Board members to the staff was a call for transparency in implementation of this new market. "If things go bad, they can go really bad" said board member Sperling, as he called on ARB staff to report back to the Board on ensuring appropriate market oversight.
Anyone watching CARB's process today should be proud of the integrity and openness behind this new bold direction for California. Said CARB member Berg near the end of the meeting, "today is the beginning of a new level of details".
Congratulations CARB Board members, staff and of course California voters! A recent poll shows 64% of surveyed voters support the cap and trade parts of California's bill.