California extends cap-and-trade to 2030
On July 17, California lawmakers approved an extension of the State's greenhouse gas (GHG) emissions "cap-and-trade" programme to 2030. The programme is the only one of its kind in the United States (US) and the second largest in the world.
On July 17, California lawmakers approved two “landmark” pieces of legislation; “AB 617 Nonvehicular air pollution: criteria air pollutants and toxic air contaminants” and “AB-398 California Global Warming Solutions Act of 2006: market-based compliance mechanisms: fire prevention fees: sales and use tax manufacturing exemption“, the latter an extension of the state’s greenhouse gas (GHG) emissions “cap-and-trade” programme to 2030.
Tonight, California stood tall and once again, boldly confronted the existential threat of our time. Republicans and Democrats set aside their differences, came together and took courageous action. That’s what good government looks like, said Governor Edmund G. Brown Jr., Senate President in a statement.
Lawmakers also confirmed the State’s Low Carbon Fuel Standard, a programme to reduce the carbon intensity of transportation fuel, would continue unaffected by the extension as one of the complementary strategies to address climate change.
We congratulate California on its strong climate leadership supporting the transition to clean energy and look forward to Neste’s renewable products continuing to support the State’s targets at curbing carbon emissions, said Kaisa Hietala, Executive Vice President of Renewable Products at Finland-headed oil refiner and renewable fuel producer Neste.
Neste MY Renewable Diesel is currently being used by California fuel distributors, refiners, and public and private fleets to meet California’s low carbon fuel requirements as a drop-in replacement used without changes to existing fuel distribution systems.