On October 28th, the California Air Resources Board (CARB or Board) published their proposal for the country’s first economy-wide Cap and Trade regulatory program. The long-awaited 3,500-page package includes the proposed regulation (182 pages), various appendices, and a focused environmental and economic analysis. But most importantly, it provides stakeholders with the answers to the big-ticket policy questions that have surrounded the proposed program for over a year.
Also released for public comment are the proposed changes needed to update California’s existing Mandatory Reporting Regulation so it meshes with the Cap and Trade program. The dual 45-day public comment periods for the regulations start on November 1st and continue until the Board hears both items on December 16th and/or 17th.
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