California Proposes Ambitious New Cap-and-Trade Program with high price floor
1 May 2017 – A California state senator will introduce legislation to replace the state’s troubled cap-and-trade program, and eventually establish one of the highest prices for carbon dioxide in the world. The proposed system would set a price collar with both a floor and ceiling for the price of a metric ton of carbon dioxide. Around 90 percent of the revenue from the program, which would raise several billion dollars annually and climb steadily over time, would go back to California citizens in the form of a climate dividend rebate. Read the full article on MIT Technology Review’s website.