by Michael Mastrandrea | Sep 12, 2018 | Reports |
Download full report (pdf) Download data (Excel) Executive Summary We present a method for tracking the private bank of compliance instruments in the Western Climate Initiative cap-and-trade program, drawing on official market data. Banking metrics allow policymakers...
by Michael Mastrandrea | Sep 12, 2018 | Reports |
Download report (pdf) Danny Cullenward, Michael Mastrandrea, and Mason Inman of Near Zero, together with Geeta Persad of Union of Concerned Scientists, sent a comment to the California Air Resources Board (ARB) on ARB’s Aliso Canyon Mitigation Agreement with...
by Michael Mastrandrea | Jul 16, 2018 | Reports |
Download full report (pdf) Download data (Excel) Executive summary New data show that the net result of Ontario’s brief participation in California and Québec’s Western Climate Initiative (WCI) cap-and-trade program was to inflate the program’s supply by 13.2 million...
by Michael Mastrandrea | Jul 5, 2018 | Reports |
Download full report (pdf) Download data (Excel) Summary From an environmental perspective, managing the cap-and-trade program’s excess supply of allowances is arguably the most important question affecting the design of ARB’s post-2020 market. Yet the California Air...
by Michael Mastrandrea | May 23, 2018 | Reports |
Download full report (pdf) Download data (Excel) Executive summary In recent public statements, ARB staff have suggested that California’s “self-correcting” cap-and-trade auction mechanism will address overallocation—referring to a unique provision of the state’s...
by Michael Mastrandrea | May 7, 2018 | Reports |
Download full report (pdf) Download data (Excel) Executive summary ARB’s April 2018 Staff Report fails to “[e]valuate and address concerns related to overallocation” in the cap-and-trade program, as required by AB 398. Despite widespread concern that overallocation...
by Michael Mastrandrea | Mar 16, 2018 | Reports |
Download full report (pdf) At a workshop earlier this month, ARB released its initial thinking on how to implement the post-2020 market design reforms required by AB 398 and invited comments on these materials. In response, we comment on ARB’s overall market design...
by Michael Mastrandrea | Mar 16, 2018 | Reports |
Download full report (pdf) AB 398 requires the California Air Resources Board (ARB) to make several important reforms to the cap-and-trade program’s post-2020 market design. For example, the statute requires ARB to implement a hard price ceiling at which unlimited...
by Michael Mastrandrea | Mar 15, 2018 | Reports |
Download full report (pdf) Download data (Excel file) AB 398 requires the California Air Resources Board (ARB) to incorporate new limits on the use of carbon offsets in its post-2020 cap-and-trade market design. ARB has released its initial thinking on how to...
by Michael Mastrandrea | Mar 1, 2018 | Reports |
On February 21, the Western Climate Initiative (WCI) held its first auction of greenhouse gas (GHG) allowances featuring Ontario (ON), which formally linked with California (CA) and Québec (QC) in 2018. The auction resulted in carbon prices near the price floor, with...
