Governing Emissions Trading in California and China
Legal Planet
MAY 9, 2022
As of 2021, 30 emissions trading systems were in force globally, covering 16 – 17 % of global greenhouse gas (GHG) emissions. California’s system uses revenues from auctioning allowances to fund its Greenhouse Gas Reduction Fund (GGRF) and to limit cost increases to electricity users. Carbon markets are at a crossroads.
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