CMTA research points to cap-and-trade as most cost effective approach climate goals
Much has been made about the recent climate change legislation passed by the Legislature and signed into law by the Governor that will no doubt have a significant effect on California’s economy going forward. However, apart from legislative action, the California Air Resources Board (ARB) already had a process under way to develop a 2030 Scoping Plan to reduce greenhouse gas (GHG) emissions to 40 percent below 1990 levels by 2030 and put California on a path to reduce emissions to 80 percent below 1990 levels by 2050.
CMTA undertook research to look at some of the options that ARB considered as part of its plan to reach the 2030 target and worked with the NERA Economic Consulting firm to assess the various paths. The resulting research (attached here) shows that amongst the options a well-designed cap-and-trade program, while still a cost to Californian consumers, is the most cost effective strategy to reduce GHG emissions and contribute to the global fight against climate change.
The report was filed with ARB as part of CMTA’s comments on the 2030 Scoping Plan Concept Paper. The report and comments can be found here.
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