By James Poulos | Cal Watchdog
Beginning this month, millions of Californians will see something new on their electricity bills: a “climate credit.”
The line-item credit will range between $30 and $40. It will function as most Californians’ first direct experience with AB32, the Global Warming Solutions Act of 2006. AB32 mandated that carbon emissions be reduced by to 1990 levels by 2020.
To implement AB32, the California Air Resources Board imposed a and-trade system of emissions credits. The system affected roughly 350 businesses deemed responsible for 85 percent of emissions. It required them to cut emissions output below forecast levels. In 2013, that meant affected businesses cut emissions by 2 percent of the 2012 forecast. This year brings another 2 percent cut.
at Cal Watchdog.