Government Energy Policy, Business and Technology

California Considers Guaranteeing Carbon Prices in Trump Era

Bloomberg: California is considering a system to protect projects that cut global-warming emissions from a market downturn that may worsen under a Trump administration.

The state may guarantee the money these project developers get for emission-reduction and clean-fuel credits by auctioning options that oblige California to pay a minimum price for them, based on measures the state’s considering. Having a buyer of last resort encourages private finance.

California’s moving forward with aggressive programs to curb global warming, even as President-elect Donald Trump and his nominee for the Environmental Protection Agency have questioned the science around climate change. The auctions could underpin emissions-cutting projects in an era of volatile carbon prices and regulatory uncertainty.

Read article