AB 32 draws fire from businesses
Business groups have labeled climate change law a “job killer”
Manufacturers, oil refiners and other business groups are protesting California’s cap-and-trade carbon market before the California Air Resources Board.
The groups are demanding last-minute changes to AB 32, the state’s Global Warming Solutions Act, which they have labeled a “job killer” due to the cost of participating in the carbon market, according to The Sacramento Bee.
On Nov. 14, the Air Resources Board will begin distributing millions of carbon-emission allowances—each permitting the emission of a ton of greenhouse gases—to 430 of the heaviest polluters in the state. Most of the credits will be dispersed free of charge, with 10 percent being auctioned off. The board estimates businesses will pay more than $1 billion over the next year for carbon credits.
Business leaders are urging Gov. Jerry Brown to increase the allocation of free carbon credits, a request opposed by some environmentalists, who believe it would weaken the cap-and-trade program.