Trading on the California carbon market began on January 1, 2013, as part of the state’s Global Warming Solutions Act—the landmark bipartisan clean energy legislation that aims to cut greenhouse-gas pollution to 1990 levels by 2020. California’s carbon market, along with other programs designed to meet its greenhouse-gas reduction targets, are propelling the nation toward a cleaner energy future and have catalyzed billions of dollars in private-sector investment in clean energy in the state.
Meanwhile, the nine northeastern states participating in the Regional Greenhouse Gas Initiative, or RGGI—the first mandatory carbon cap-and-trade system in the United States—are enjoying environmental and economic benefits as the cap-and-trade program enters its sixth year. Member states are experiencing stronger clean energy economies and are saving hundreds of millions of dollars in energy costs.
Internationally, Australia is planning to link with the EU emissions trading system in 2015 and conversations about linking with other markets are already underway.
This event will focus on the potential evolution of the U.S. economic and political relationship with the European Union, Australia, and Canada through the linking of carbon markets with markets in California and RGGI states. The event will feature a report from FORES, “Linking Emissions Trading Systems in EU and California,” by Lars Zetterberg, followed by a discussion about the advantages of linking carbon markets and the next steps for bilateral cooperation between the United States and the EU, Australia, and Canada.