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Brown: Cap-And-Trade Bill Signing Is Key Milestone In Climate Fight

Brown: Cap-And-Trade Bill Signing Is Key Milestone In Climate Fight”

Jerry Brown and his predecessor, Arnold Schwarzenegger, stood side by side Tuesday to cheer the extension of one of the most ambitious programs in the U.S.to reduce fossil fuel pollution, while condemning President Donald Trump's failure to see climate change as a deadly threat.

SAN FRANCISCO ― California's milestone climate change program was officially renewed Tuesday when Gov.

While the state Senate and Assembly narrowly passed the bill last week, it had faced pushback from both liberals and conservatives in the fraught lead-up to the vote. The program puts a cap and a price on carbon emissions, creating an incentive for polluters to reduce emissions.

"Nothing is more serious in the world than extinction", said Brown, who has been working to reassure world leaders that Americans still intend to cut carbon emissions, even though President Donald Trump is pulling the USA out of the Paris Agreement. "There's only one man that dropped out", Schwarzenegger said of Trump on Tuesday. Schwarzenegger signed a bill in 2006 that authorized state environmental regulators to create a cap and trade program, but the authorization would have expired in 2020 without action from lawmakers. But Brown pieced together a broad coalition to pass the legislation, winning over several Republicans, national environmental groups and major business organizations. The bill will create cost containment mechanisms in order to meet the greenhouse gas emissions reduction levels provided by a law enacted previous year. Legislation approved a year ago set a new, much more aggressive goal to reduce emissions another 40 percent by 2030. Without AB 398, the California Air Resources Board would retain the statutory authority to implement costly control measures regulating emissions.The cap and trade program is believed to be the least expensive method of reducing carbon emissions and is three to five times cheaper than other approaches.

The money is a key funding source for programs that reduce greenhouse gas emissions as well as a planned high-speed train between San Francisco and Los Angeles, one of Brown's priorities. The governor's office said he'll sign separate legislation tied to the cap and trade extension later this week.



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