Covering California’s cap-and-trade program and Ontario’s impending exit from the market, CALmatters spoke with Near Zero’s Danny Cullenward:

“Serious financial markets care about what happens when things don’t go as planned,” said Danny Cullenward, an energy economist and a member of the Independent Emissions Market Advisory Committee charged with reviewing the mechanics of cap and trade.

“From organized stock exchanges to international derivatives markets, the private sector lives on binder-length contracts governing what happens when deals go south.  If carbon market links are going to become serious and deep, markets need clear rules that apply in sickness and in health.”

Read the full article, “Ontario ready to pull out of carbon market, leaving California in limbo” by Julie Cart, on the CALmatters website.