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California confirms 12-month delay to carbon trading scheme
State-wide cap-and-trade scheme will not come into full effect until start of 2013
Californian officials confirmed yesterday that the state would delay the full introduction of its flagship emissions trading scheme until the start of 2013, but stressed that the carbon reduction targets underpinning the cap-and-trade mechanism would not be watered down.
Presenting evidence to a State Senate committee, Air Resources Board chairwoman Mary Nichols said that the scheme would begin at the start of 2012 as planned, but that firms would not be required to fully comply with the new rules until a year later.
Nichols explained that the 12-month delay would give the regulator time to ensure that all "necessary elements" of the scheme are "in place and fully functional".
Read the complete article here:
http://www.businessgreen.com/bg/news/2083110/california-confirms-delay-carbon-trading-scheme -
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