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Statewide greenhouse gasoline emissions lowered 5.3 percent from the start from the program in 2013 to 2017 (see figure below). While it's tricky to establish causality between emissions reductions and any specific policy or market ailment, at least some of this reduction can likely be attributed to California’s cap-and-trade program, which covers about eighty five percent with the state’s emissions and invests billions of dollars in emission cutting down projects.
"We don't have all of the responses": EUIPO leaders, General Court judges and in-house experts replicate on the future of IP case legislation
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Despite the fact that a significant number of emission allowances are freely allocated for changeover assistance and to cut back emissions leakage in California’s program, the majority are sold at auction. Revenues from these auctions are deposited during the state’s Greenhouse Fuel Reduction Fund. The California Legislature then appropriates these funds to state agencies to administer programs that further minimize emissions.
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Of course, cap-and-trade systems also receive their share of criticism from the two environmentalists and economists. Here's the best drawbacks:
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