Legal experts: California market on schedule

Speaking at the Navigating the American Carbon World conference in San Francisco, a panel of legal experts affirmed the California carbon market is on schedule to launch in January 2013.

After thoroughly reviewing all of the market systems, the panel agreed that it was designed on a solid legal foundation that is unlikely to be successfully challenged.

Environmental Defense Fund attorney Tim O’Connor believes that even if a lawsuit is brought forward, it would not have a shot at derailing the market launch.

Other panel members agreed that the California market has built up considerable momentum with its first allowance auction scheduled for November.

Legal counsel for Linklaters LLP, a firm consulting with companies that will be regulated under the new market, agrees that there will not likely be anything that throws the market off course this late in the game.