Search results
Results from the WOW.Com Content Network
The bill proposed a cap and trade system, under which the government would set a limit (cap) on the total amount of greenhouse gases that can be emitted nationally. Companies then buy or sell (trade) permits to emit these gases, primarily carbon dioxide CO 2. The cap is reduced incrementally over time to reduce total carbon emissions.
Permits would be allocated to support the activities of a Climate Change Credit Corporation, a combination public and private agency that would oversee the cap and trade program, provide credit (Climate Change Credits) to participating entities for reductions in the total greenhouse gases made before 2012, and to facilitate transition for ...
The American Clean Energy and Security Act (H.R. 2454), a greenhouse gas cap-and-trade bill, was passed on 26 June 2009 in the House of Representatives by a vote of 219–212. The bill originated in the House Energy and Commerce Committee. It was introduced by Representatives Henry A. Waxman and Edward J. Markey. [138]
Gov. Gavin Newsom says $11 billion spent through California's cap-and-trade program over 10 years represents the 'backbone' of state efforts on climate change.
The main goal of the proposed cap and trade bill is to reduce the level of harmful greenhouse gas emissions. To achieve this objective, Congress has crafted a plan to place a cap (or limit) on the ...
Under the program, which is essentially a cap-and-trade emissions trading system, SO 2 emissions were reduced by 50% from 1980 levels by 2007. [58] Some experts argue that the cap-and-trade system of SO 2 emissions reduction has reduced the cost of controlling acid rain by as much as 80% versus source-by-source reduction.
The program, called cap and trade, was the first of its kind in the U.S. when launched in 2013 and set the ambitious goal of slashing turn-of-the-century emission levels by 40% by the year 2030.
The bill would create a national cap-and-trade scheme for greenhouse gas emissions, in which polluters would mostly be allocated right-to-emit credits based on how much greenhouse gas they currently emit. [2] The cap would get tighter over time, until by 2050, emissions would be reduced to 63% below 2005 levels.