United States cap-and-trade law extended up till 2030 after the votes of California Legislators

United States cap-and-trade law extended up till 2030 after the votes of California Legislators

 

The legislators in California have voted  to extend a law to cut carbon emissions, weeks after President Donald Trumpgave a statement that US would withdraw from the Paris climate accord. As per the policy, which demands firms to purchase permits to release pollutants, will be extended to the year 2030. Cutting  greenhouse gases by 40% from 1990 levels by 2030 is also aimed by the US state.

The evolving cap-and-trade plan sets a limitation on emissions of greenhouse gases and allows companies, such as factories and refineries, to buy and sell permits to emit carbon dioxide.

California Governor Jerry Brown stated that the Republicans and Democrats had taken “courageous action” by taking such move. “Tonight, California stood tall and once again, boldly confronted the existential threat of our time,” said Mr.Brown in his statement delivered on Monday.”

However, there was an opposition by some conservatives regarding the vote to extend the cap-and-trade programme beyond 2020 who said the measure would affect the poor by increasing prices for fuel and food.

California State Senator Andy Vidak stated that it represented a “regressive” tax that would not make any impact on climate change.

“We could shut down the entire state of California and it would have no effect on the global climate,” said Mr. Vidak.

 

After long hours of negotiations on Monday, the California’s State Assembly finally voted 55 to 21 to put the legislation forward to Mr Brown.The move puts the most populous US state at odds with Mr Trump, who mentioned last month that he was withdrawing the United States from the 2015 Paris climate agreement with the aim of negotiating a new “fair” deal that would not be a disadvantage on the businesses in the states.

However, as per some environmentalists, the legislation does not go far enough as it consists of too many concessions to oil companies.

 

 

 

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