California confident of 2013 carbon market launch
Speaking at the Navigating the American Carbon World conference in San Francisco, California Air Resources (ARB) Board chair Mary Nichols affirmed that the state is on schedule to launch its economy-wide carbon market in January 2013.
Nichols laid some fears to rest after the market’s first allowance auction was pushed back from August to November of this year, by assuring listeners that the extra time will allow both regulated emitters and administrators additional time to become familiar with the new system.
The ARB will hold a simulated allowance auction in August to demonstrate that the market infrastructure is operating properly, according to Nichols.
In 2013 the sale of carbon allowances is projected to generate an additional $1 billion in state revenue that will be used to fund other clean energy and technology initiatives.