California Adopts Nation's First, Economy-Wide Market to Reduce Pollution

Carbon market program added to California's clean energy blueprint to spur growth in clean-tech sector, create jobs and reduce air pollution

Sacramento, CA (December 16, 2010) – The California Air Resources Board today approved a first-of-its-kind, carbon market to reduce pollution in California that, along with other strategies, will also spur growth in the clean-tech sector and create jobs, according to experts at the Natural Resources Defense Council.

The newly adopted program accounts for roughly one quarter of the State’s overall emissions reduction programs and is a key part of Assembly Bill 32, California’s landmark clean energy legislation, which will put California on a clear path to reducing emissions to 1990 levels by 2020.

Following is a statement by Kristin Eberhard, Legal Director of NRDC’s Western Energy and Climate Projects:

“The adoption of this unprecedented carbon market to reduce pollution is a key milestone that will enable California to forge ahead with a clean energy economy. The Air Board today responded to the strong message delivered by California voters on November 2nd when they voted for a clean energy economy by resoundingly rejecting Proposition 23, the largest public referendum in history on climate and clean energy policy.”

“The Air Board’s action demonstrates that California continues to lead in pioneering smart, clean energy policies that make sense for the environment, public health and our economy. This is an economically sound program that will send a steady market signal driving innovation in clean energy, reducing pollution and mitigating oil price shocks while creating jobs and promoting economic growth.”

Kristin Eberhard explains California’s carbon market in greater detail in a blog posted here: California is leading the nation to join the emerging global clean energy economy