California Council for Environmental and Economic Balance: 2017 Summer Issues Seminar

Squaw Valley, CA
18 July 2017
Hosted By: California Council for Environmental and Economic Balance

NERA Associate Director Dr. Paul Bernstein spoke on two panels at the California Council for Environmental and Economic Balance (CCEEB) 2017 Summer Issues Seminar. His presentation, “AB 398, Cap-and-Trade and California’s Post-2020 Policies,” highlighted the benefits of both (1) employing more market-based policies as opposed to direct control measures to reduce greenhouse gas (GHG) emissions and (2) allowing the use of more offsets to lower the costs of GHG abatement. Dr. Bernstein’s second session, “Climate, Energy and Technology: Going to 2030,” outlined the greatest uncertainties surrounding California’s efforts to meet its greenhouse gas targets. Estimates of the costs depend critically on forecasts about the growth of California’s economy, technology development, and consumer willingness to adopt low emitting technology and to conserve energy. Regulators can best address these long-term uncertainties and minimize compliance costs by making policies as flexible and comprehensive as possible. The flexibility mechanisms include greater reliance on cap-and-trade and less reliance on direct (or command-and-control) measures, increasing the allowance of offsets, price collars on greenhouse gas allowances, and broadening coverage to more jurisdictions.  

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