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House Chairmen Waxman, Markey Release Draft of Energy and Climate Legislation; Among the Many Provisions Are Cap-and-Trade, Harmonization of CAFE and California Vehicle Regulations, and Low Carbon Fuel Standard

Green Car Congress

The draft requires states to establish goals for reducing global warming pollution from the transportation sector and requires large metropolitan planning organizations to submit transportation plans to meet those goals. Title III, Reducing Global Warming Pollution , (the cap-and-trade title), has eight subsections.

Climate 186
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Perspective: The UN Approval Process for Carbon Offsets

Green Car Congress

Under the cap-and-trade system, industries regulated by it—the largest being power generation, chemicals, steel, and cement—are given limits on their total emissions, and companies can purchase emission reductions from others in lieu of reducing emissions themselves. 100% for some agricultural processes.

Carbon 255
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Perspective: Regional Greenhouse Gas Cap-and-Trade Programs May be the Solution

Green Car Congress

Cap-and-trade was first tried on a significant scale twenty years ago under the first Bush administration as a way to address the problem of airborne sulfur dioxide pollution–widely known as acid rain–from coal-burning power plants in the eastern United States. RGGI took effect and began regulating CO 2 emissions on January 1, 2009.

Gas 244