August 13, 2013 by California Carbon
Climate Connect News, London: The Committee on Natural Resources in the California State Assembly is expected to reconsider the proposed ban on use of imported carbon offsets by compliance entities under the state’s cap-and-trade scheme. The Senate Bill 605 contains proposal to ban use of offsets that are not generated within California.
At the latest hearing of the bill, Senator Ricardo Lara stated that he would refer the bill back to the committee and urge it to reconsider the ban on offsets.
In a recent amendment, the bill had stipulated that the Air Resources Board must ‘Limit the use of offsets, to those offsets originating and achieved within the state.’ In its original form, the bill gave some leeway to the Board on allowing the use of imported offsets.
A number of early action projects located outside California have been listed by the Air Resources Board for review. Once given the ‘go ahead’ these projects would be able to transition their offsets to ARB Offset Credits which could be used by compliance entities to meet their obligations.
An analysis by the American Carbon Registry in 2012 predicted that California cap-and-trade scheme could face a shortfall of 70 million carbon offsets during the third compliance period of 2018-2020. It also predicted Quebec would be able to provide a very small number of offsets compared to the shortfall.
Author: Climate Connect Newsdesk
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