Cap-and-trade get a boost
Further to our blog post on October 25, 2010 (California vote could hinder cap-and-trade efforts), Proposition 23 was defeated by California voters in the November 2 election. The proposition would have suspended California’s emissions-reduction law until certain economic targets, including a decline in the unemployment rate, were met.
As reported in the Globe and Mail (Globe and Mail Link = http://www.theglobeandmail.com/report-on-business/economy/prospects-for-cap-and-trade-system-waning/article1783998/), the defeat of Proposition 23 could help boost the momentum behind the Western Climate Initiative’s proposed cap-and-trade market, which is schedules to launch in 2010. The Western Climate Initiative includes California, six other American states, Ontario, Quebec, British Columbia and Manitoba.
