AB 32 Update CAPCOA Fall Meeting
1
California’s Cap-and-Trade Program
Rajinder Sahota
California Air Resources Board
January 2018
Part of a suite of climate policies to achieve 40% below 1990 levels by 2030
Ensure GHG targets are realized through a strict limit
Provide compliance flexibility to achieve cost-effective reductions
Allow price signals to motivate long-term investment in cleaner fuel and energy efficiency
Complement existing programs to reduce smog and air toxics
Facilitate integration of regional, national, and international GHG reduction programs
Extended in 2017 in conjunction with legislation to focus efforts on neighborhood level air pollution (AB 617)
2
Cap-and-Trade Program
Economy-wide Coverage
Program covers about ~85% of State’s Emissions
Stationary sources with emissions ≥25,000 metric
tons of carbon dioxide equivalent (MTCO2e) per
year
Importers of electricity
Emissions from the combustion of supplied fuels,
including natural gas and transportation fuels
Carbon dioxide (CO2), methane (CH4), nitrous
oxide (N2O)
3
Cap-and-Trade Program Allowance Budgets
8
Important Design Features
Allocation to industrial sources to prevent leakage
Multiyear compliance periods
Banking
Offsets
Compliance Flexibility
Allowance Price Containment Reserve
Auction with price floor for carbon price discovery to inform investment and compliance decisions
Allows market to identify lowest-cost GHG reductions
5
How is Cap and Trade Enforced?
Robust annual GHG emissions reporting and
verification
Use consistent methods for reporting within a sector and
across sectors
Third-party verification to ensure accurate reporting
Offset projects must comply with CARB-adopted
protocols and undergo third-party verification
Automatic 4x increase in compliance obligation if
an entity misses the compliance deadline
6
7
~450 covered entities in the Cap-and-Trade Program
Program linked with Québec’s cap-and-trade program on January 1, 2014, and will link with Ontario’s program on January 1, 2018
>1.1 billion compliance instruments held in private accounts (~$16 billion in value)
>$6.4 billion generated for California Climate Investments
High levels of compliance with Program requirements
Carbon price is being incorporated into compliance, investment decisions, and electricity market
Cap-and-Trade Program Facts and Figures
What is Linkage?
In the context of the California Cap-and-Trade Program, linkage refers to the process of approving compliance instruments issued by another jurisdiction’s climate program (e.g., an emissions trading system) to be eligible for use by entities to meet compliance obligations under California’s program
Current linkage
Instruments from another ETS can be used in California and where California instruments can be used in the other ETS
Ex., Québec, Ontario
Potential linkage to Sector-Based Offset Programs
Instruments from an approved sector-based offset program can be used in California, but California instruments would not be used in the sector-based offset program
Ex., Acre, Brazil
8
SB 1018 Requirements
The Governor must make all of the following findings:
Partner Jurisdiction has adopted program requirements for GHG reductions and offset credits which are equivalent to or stricter than California’s
California has continued ability to enforce its laws and regulations
Partner Jurisdiction has ability to enforce its laws and regulations, and enforcement requirements are equivalent to or stricter than California’s enforcement requirements
Proposed linkage does not impose any significant liability on California for any failure associated with the linkage
9
SB 1018 Process to Propose
Linkage Review potential partner jurisdiction’s program (or proposed
program if not yet adopted)
Assess partner jurisdiction program against SB 1018 requirements
Stringency of GHG reduction requirement
Monitoring, Reporting, and Verification
Accuracy requirement
Program coverage (i.e., who is regulated)
Market/trading rules (if an ETS)
Offset provisions and requirements
Enforcement mechanisms within potential partner jurisdiction
Develop recommendations and notification package to send to Governor
10
Recent Legislation: AB 398
Provides direction on a post-2020 Cap-and-Trade
Program, including
Changes to the offset usage limit and requirements for instate benefits
Direction on allowance allocation
Establishing two price containment points and a price ceiling
CARB in the process of evaluating changes to
program design features
Changes will be subject to a public process and
coordinated with linked partners
AB 398 requires that changes be in effect by
January 1, 2021 10
12
Additional Resources
California Air Resources Board: https://www.arb.ca.gov/homepage.htm
Cap-and-Trade Program: https://www.arb.ca.gov/cc/capandtrade/capandtrade.htm
California’s Climate Change Scoping Plan: https://www.arb.ca.gov/cc/scopingplan/scopingplan.htm
Mandatory Greenhouse Gas Emissions Reporting: https://ww2.arb.ca.gov/our-work/programs/mandatory-greenhouse- gas-emissions-reporting
ETS Linkage Information https://www.arb.ca.gov/cc/capandtrade/linkage/linkage.htm
https://www.arb.ca.gov/homepage.htm
https://www.arb.ca.gov/cc/capandtrade/capandtrade.htm
https://www.arb.ca.gov/cc/scopingplan/scopingplan.htm
https://ww2.arb.ca.gov/our-work/programs/mandatory-greenhouse-gas-emissions-reporting
https://ww2.arb.ca.gov/our-work/programs/mandatory-greenhouse-gas-emissions-reporting
https://ww2.arb.ca.gov/our-work/programs/mandatory-greenhouse-gas-emissions-reporting
https://ww2.arb.ca.gov/our-work/programs/mandatory-greenhouse-gas-emissions-reporting
https://ww2.arb.ca.gov/our-work/programs/mandatory-greenhouse-gas-emissions-reporting
https://ww2.arb.ca.gov/our-work/programs/mandatory-greenhouse-gas-emissions-reporting
https://ww2.arb.ca.gov/our-work/programs/mandatory-greenhouse-gas-emissions-reporting
https://ww2.arb.ca.gov/our-work/programs/mandatory-greenhouse-gas-emissions-reporting
https://ww2.arb.ca.gov/our-work/programs/mandatory-greenhouse-gas-emissions-reporting
https://ww2.arb.ca.gov/our-work/programs/mandatory-greenhouse-gas-emissions-reporting
https://ww2.arb.ca.gov/our-work/programs/mandatory-greenhouse-gas-emissions-reporting
https://ww2.arb.ca.gov/our-work/programs/mandatory-greenhouse-gas-emissions-reporting
https://www.arb.ca.gov/cc/capandtrade/linkage/linkage.htm
https://www.arb.ca.gov/cc/capandtrade/linkage/linkage.htm
Language:English
Score: 720647.17
-
https://www.cepal.org/sites/de...sentations/rajinder_sahota.pdf
Data Source: un
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By supporting a positive Reporting culture, both FAA and industry employees are encouraged to “say something when they see something.”
2.9 In addition to the FAA AVS VSRP, the United States has multiple reporting programs that collect information and encourage a Reporting culture. (...) ACTION BY THE MEETING
3.1 The meeting is invited to note the information provided.
-----------------------
MIDANPIRG/19 & RASG-MID/9-IP/5 APPENDIX A
APPENDIX A
The FAA utilizes multiple voluntary safety reporting programs to collect safety information and support a reporting culture, including the following:
Aviation Safety Action Program (ASAP). (...) More information about these and other voluntary safety programs implemented by the FAA can be found at https://www.faa.gov/newsroom/aviation-voluntary-reporting-programs-1.
— END —
Language:English
Score: 710134.47
-
https://www.icao.int/MID/MIDAN...ositive%20Safety%20Culture.pdf
Data Source: un
Where the employee is the sole source of the information (i.e. all evidence of the event is discovered or otherwise predicated on the report), the FAA will take no enforcement action against the employee for reports accepted under the program. (...) This policy is articulated in FAA Advisory Circular 120-66B.
- 3 - A35-WP/92 TE/12
2.4 An ASAP is not, however, a blanket immunity program for self-reported violations. To be accepted under the program, an ASAP report must be submitted in a timely manner, usually within 24 hours of the end of the employee's duty shift, or within 24 hours of having become aware of possible non- compliance with the Federal Aviation Regulations. (...) The ERC determines through consensus whether a report meets program acceptance criteria and if so, the further disposition of all such accepted reports.
Language:English
Score: 709938.7
-
https://www.icao.int/Meetings/...%2035th%20Session/wp092_en.pdf
Data Source: un
World Programme for the Census of Agriculture 1970 (WCA 1970)
Report on the 1970 World Census of Agriculture This report on the 1970 World Census of Agriculture is being presented as supplementary material to the Programme for the 1980 World Census of Agriculture in the hope that the experience documented there in will provide useful guidelines to countries in planning and implementing their national census of agriculture.
1970 World Census of Agriculture Regional Program for Europe The Regional Program for Europe consist of two parts: World Program and European Supplement to the World Program. (...) The regional Program for Africa consist of two parts: World Program and African Supplement to the World Program.
1970 World Census of Agriculture Regional program for America The regional program for America consist of two parts: World Program and American Supplement to the World Program. (...) Since the earlier document was submitted, it has been reviewed by technicians from European countries, from American countries, and from countries concerned with statistical programs in underdeveloped areas.
Report on the 1950 World Census of Agriculture, Vol.
Language:English
Score: 709639.55
-
https://www.fao.org/world-cens...iculture/wcarounds/archive/en/
Data Source: un
Its next report is due in November 2008.
Status of joint programming initiative
Activity Status (as of 1 August 2010) Baseline assessment Completed. (...) Its combined fifth and sixth periodic report is due in January 2011.
Status of joint programming initiative
Activity Status (as of 1 August 2010) Baseline assessment Completed. (...) Its sixth periodic report is due in May 2008.
Status of joint programming initiative
Activity Status (as of 1 August 2010) Baseline assessment Completed.
Language:English
Score: 709502.54
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https://www.un.org/womenwatch/...int_programming_initiative.pdf
Data Source: un
World Programme for the Census of Agriculture 1970 (WCA 1970)
Report on the 1970 World Census of Agriculture This report on the 1970 World Census of Agriculture is being presented as supplementary material to the Programme for the 1980 World Census of Agriculture in the hope that the experience documented there in will provide useful guidelines to countries in planning and implementing their national census of agriculture.
1970 World Census of Agriculture Regional Program for Europe The Regional Program for Europe consist of two parts: World Program and European Supplement to the World Program. (...) The regional Program for Africa consist of two parts: World Program and African Supplement to the World Program.
1970 World Census of Agriculture Regional program for America The regional program for America consist of two parts: World Program and American Supplement to the World Program. (...) Since the earlier document was submitted, it has been reviewed by technicians from European countries, from American countries, and from countries concerned with statistical programs in underdeveloped areas.
Report on the 1950 World Census of Agriculture, Vol.
Language:English
Score: 708549.8
-
https://www.fao.org/world-cens...iculture/wcarounds/archive/es/
Data Source: un
World Programme for the Census of Agriculture 1970 (WCA 1970)
Report on the 1970 World Census of Agriculture This report on the 1970 World Census of Agriculture is being presented as supplementary material to the Programme for the 1980 World Census of Agriculture in the hope that the experience documented there in will provide useful guidelines to countries in planning and implementing their national census of agriculture.
1970 World Census of Agriculture Regional Program for Europe The Regional Program for Europe consist of two parts: World Program and European Supplement to the World Program. (...) The regional Program for Africa consist of two parts: World Program and African Supplement to the World Program.
1970 World Census of Agriculture Regional program for America The regional program for America consist of two parts: World Program and American Supplement to the World Program. (...) Since the earlier document was submitted, it has been reviewed by technicians from European countries, from American countries, and from countries concerned with statistical programs in underdeveloped areas.
Report on the 1950 World Census of Agriculture, Vol.
Language:English
Score: 708549.8
-
https://www.fao.org/world-cens...iculture/wcarounds/archive/fr/
Data Source: un
World Programme for the Census of Agriculture 1970 (WCA 1970)
Report on the 1970 World Census of Agriculture This report on the 1970 World Census of Agriculture is being presented as supplementary material to the Programme for the 1980 World Census of Agriculture in the hope that the experience documented there in will provide useful guidelines to countries in planning and implementing their national census of agriculture.
1970 World Census of Agriculture Regional Program for Europe The Regional Program for Europe consist of two parts: World Program and European Supplement to the World Program. (...) The regional Program for Africa consist of two parts: World Program and African Supplement to the World Program.
1970 World Census of Agriculture Regional program for America The regional program for America consist of two parts: World Program and American Supplement to the World Program. (...) Since the earlier document was submitted, it has been reviewed by technicians from European countries, from American countries, and from countries concerned with statistical programs in underdeveloped areas.
Report on the 1950 World Census of Agriculture, Vol.
Language:English
Score: 708549.8
-
https://www.fao.org/world-cens...ture/wcarounds/archives-ru/ru/
Data Source: un
World Programme for the Census of Agriculture 1970 (WCA 1970)
Report on the 1970 World Census of Agriculture This report on the 1970 World Census of Agriculture is being presented as supplementary material to the Programme for the 1980 World Census of Agriculture in the hope that the experience documented there in will provide useful guidelines to countries in planning and implementing their national census of agriculture.
1970 World Census of Agriculture Regional Program for Europe The Regional Program for Europe consist of two parts: World Program and European Supplement to the World Program. (...) The regional Program for Africa consist of two parts: World Program and African Supplement to the World Program.
1970 World Census of Agriculture Regional program for America The regional program for America consist of two parts: World Program and American Supplement to the World Program. (...) Since the earlier document was submitted, it has been reviewed by technicians from European countries, from American countries, and from countries concerned with statistical programs in underdeveloped areas.
Report on the 1950 World Census of Agriculture, Vol.
Language:English
Score: 705161.8
-
https://www.fao.org/world-cens...lture/wcarounds/archive-zh/zh/
Data Source: un
