12/12/2012 11:30 a.m. - 02:00 a.m.
Clean Technology and Environmental Permitting + Regulation
Morrison & Foerster LLP425 Market Street San Francisco, CA 94105
On December 12, 2012, Morrison & Foerster LLP will be hosting Agrion’s "Lessons Learned from California’s First Cap-and-Trade Auction” event. The State of California recently launched its Cap-and-Trade program to address greenhouse gas emissions under California's Global Warming Solutions Act (AB 32). The state-run auction that initiated the program was held on November 14, 2012, and resulted in the sale of more than twenty million allowances at a price of approximately $10 per ton. This government auction resulted in hundreds of millions of dollars in new revenue for the state, and is only the first of what will be regularly scheduled quarterly auctions into the foreseeable future. As this new carbon market develops, estimates of the trading value are in the billions of dollars. Please join our experienced panelists for an in-depth discussion of the inaugural auction results, the legal challenges to this auction mechanism, how the market is likely to develop, and what else should be expected going forward from this broad-scale regulatory program.
Issues which will be addressed:
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