California Carbon Market Gets a Test Run

When California's carbon market launches in November, it will become the second-largest in the world. A test auction conducted this week with 150 of the companies to be involved in the program went off without a hitch.

1 minute read

August 31, 2012, 1:00 PM PDT

By Jonathan Nettler @nettsj


With the successful online test auction held yesterday, all systems seem ready to go for the launch of California's cap-and-trade carbon market this fall, reports Tim McDonnell. 

"The plan,
which officials hope will put the country's most populous state on
track to cut greenhouse gas emissions 80 percent by 2050, isn't the
first carbon trading scheme in the U.S.: The Regional Greenhouse Gas
Initiative (RGGI), a collective of several northeastern states
(including Massachusetts, which rejoined a
few years after being forced out by then-Gov. Mitt Romney), has been
auctioning carbon credits, called allowances, since 2008."

"But unlike
RGGI, which applies only to power plants, California's plan extends to
all sectors of the economy, which means businesses from paper mills, oil
refineries, and universities to pharmaceutical manufacturers, steel
mills, and food processors like PCP will have a stake in California's
campaign against climate change," writes McDonnell. 

"'It's like some brave new adventure,' said Mona Schulman, a PCP vice
president, as she waited for the fall of the digital gavel (the auction
is held online) to start bidding. 'Everybody's in favor of clean air and
the environment being healthy, but there's a lot of uncertainty down
the road.'"

 

Friday, August 31, 2012 in Grist

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

U-Haul truck on road with blurred grassy roadside in background.

Americans May Be Stuck — But Why?

Americans are moving a lot less than they once did, and that is a problem. While Yoni Applebaum, in his highly-publicized article Stuck, gets the reasons badly wrong, it's still important to ask: why are we moving so much less than before?

March 27, 2025 - Alan Mallach

Rusty abandoned oil well and equipment with prickly pear cactus next to it in West Texas.

Using Old Oil and Gas Wells for Green Energy Storage

Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.

March 31, 2025 - Pennsylvania State University

People sitting and walking in plaza in front of historic Benton County Courthouse in Bentonville, Arkansas.

Placekeeping: Setting a New Precedent for City Planners

How a preservation-based approach to redevelopment and urban design can prevent displacement and honor legacy communities.

March 28, 2025 - Emily McCoy

High-rise apartment buildings in Waikiki, Hawaii with steep green mountains in background.

Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss

The plan would reduce visitor accommodation by 25,% resulting in 1,900 jobs lost.

4 hours ago - Honolulu Civil Beat

View of wide street in downtown Boise, Idaho with state capitol visible at end of street and blurred traffic going both directions at dusk.

Idaho Data: Unexpected Vehicle Repairs Exacerbate Housing Instability, Eviction Risk

Over 21 percent of clients struggle with transportation barriers.

6 hours ago - Idaho Capital Sun

Small, brightly lit bedroom with flowery sheets on single bed in supportive housing or nursing home.

A Year-Long Investigation On Permanent Supportive Housing

The New York Times reveals what’s working and what’s not in the cornerstone of Housing First.

April 6 - The New York Times