Text of AB 32 (PDF) - On September 27, 2006, Governor Arnold Schwarzenegger signed an unprecedented law, AB 32 (Núñez; D-Los Angeles), the “California Global Warming Solutions Act of 2006”. This landmark legislation establishes mandatory reporting requirements and caps greenhouse gas emissions produced by industries categorized as significant sources. With the passage of AB 32, California has distinguished itself as the only state that caps carbon. To read the actual text of this new law, please click on the above link.
CalChamber Business Issues Article on AB 32 - The CalChamber annually prepares a Business Issues and Legislative Guide to provide comprehensive overviews of our priorities and the data to support our positions. Our lead article for 2007 was appropriately focused on the details and implications of AB 32 and is titled, “Maintaining Economy while Reducing Emissions: a Challenge as State Implements Landmark Law”. To read about our official position on the issue, as well as how the various elements of AB 32 will affect California businesses and the economy, please click on the above link.
CARB Market Advisory Committee - After signing AB 32, Governor Schwarzenegger issued an executive order to begin implementation of the bill while also focusing on the development of market-based solutions to accompany the program. Although AB 32 does not require CARB to implement market mechanisms, the Governor expressed his continuing desire to create them through the executive order. Market-based solutions, such as a cap-and-trade program, generally are implemented in conjunction with emission reduction programs to allow for real emission reductions at the least possible cost to industry. To help design a market system for the trading of greenhouse gases, CARB created a Market Advisory Committee. To see a list of Market Advisory Committee members, please click on the above link. To see the Market Advisory Committee’s list of market design guiding principles, please click here: Market Design Guiding Principles
AB 32 Fact Sheet - AB 32 gives the California Air Resources Board (CARB) the primary responsibility of developing a comprehensive program to achieve real and quantifiable reductions of greenhouse gas emissions. To view CARB’s one-page fact sheet on the provisions of AB 32, please click on the above link.
AB 32 Timeline - Under the provisions of AB 32, California is required to achieve 1990 levels of greenhouse gas emissions by 2020. In addition to this, there are a number of deadlines that CARB must meet along the way, such as adopting regulations for mandatory greenhouse gas reporting emissions reporting by January 1, 2008. To view CARB’s timeline summary, please click on the above link.
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