(San Francisco – July 25, 2017) Today Environmental Defense Fund applauds Governor Jerry Brown for signing and the California Legislature for passing AB 398, which extends California’s landmark cap-and-trade program. California’s cap-and-trade program is an essential part of the state’s climate policy strategy that puts a firm and declining cap on carbon pollution by issuing a limited number of carbon “allowances” and requires large polluters to turn in one of those allowance for every ton of greenhouse gas they emit.
Governor Brown signed the bill into law before an enthusiastic crowd, today, at a ceremony on Treasure Island in San Francisco. EDF’s Timothy O’Connor attended today’s signing ceremony and released this statement:
“With today’s signing, California has secured one of the most powerful tools in the climate action toolbox to protect the next generation of Californians. Cap and trade will ensure California meets its ambitious climate commitments and maintains the economic prosperity that California has enjoyed since initially launching the program in 2013. California is now ahead of schedule in meeting its 2020 target, which had seemed ambitious when it was set in 2006. Extending California’s cap-and-trade program means California can maintain this recipe for success, which includes a flexible and cost-effective way for the state to achieve its new more ambitious 2030 climate target.
“Governor Brown and our legislative leaders are charting a path that other states, provinces, and countries are noticing. The future of U.S. climate action will rely on the leadership and engagement of states, cities and businesses, and California is leading the way.”
- Timothy O’Connor, Director, California Legislative and Regulatory Affairs
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