The state of California’s cap-and-trade program is up for renewal next month, signaling the beginning of negotiations that will decide how carbon emissions are controlled beyond 2020, the date when the old program expires, the Los Angeles Times reports.
On July 12, Gov. Jerry Brown’s administration formally proposed extending the life of the program with the release of a plan drafted by the California Air Resources Board, an entity under the governor’s control.
According to a report from the board, the new plan would more aggressively attempt to reduce emissions, giving the state the tools necessary to meet Brown’s greenhouse gas reduction targets. The new bill would expire in 2030.
The cap-and-trade program attempts to create financial incentives for businesses and manufacturers to cut emissions by forcing these companies to pay for pollution permits.