Tuesday, December 22, 2009
BOMA California Engagement on Cap-and-Trade Regulations Under AB 32
BOMA San Francisco Members:
Please click here for a report issued recently from the law firm of Morrison & Foerster on the California Air Resources Board’s plan to establish a cap-and-trade program for carbon emissions in California, beginning in 2012. It is worth reviewing if you have an interest in this concept, and what it might mean to your company or property. Much of the details are still to be determined, but unless AB 32, the state’s landmark greenhouse gas reduction measure, is radically amended or repealed, we are going to have some kind of cap-and-trade system in the near future. BOMA San Francisco thanks Morrison & Foerster for pulling together much of the data and information on CARB’s proposal for a carbon cap-and-trade program and making it accessible in a well-written and annotated report.
Although some type of market-based program is indeed on the horizon, there is very little agreement of what it will look like, even amongst CARB officals. There are several advisory committees currently working to suggest details of a cap-and-trade program, but the issues are extremely complex and the economic analyses vary widely.
BOMA California, in conjunction with several other real estate groups have been working on the myriad of issues that are involved with implementing a carbon cap-and-trade system. Additionally, they are active participants of the AB 32 Implementation Group (AB32IG), which is a large coalition of employer, business, and taxpayer groups that are closely following the development of the AB 32 regulations. As the voice of the commercial real estate industry in the state, BOMA California is asking that the regulations that are adopted to implement AB 32 be as efficacious and economic as possible, and don’t cause undue harm to the economy or the businesses in the industry.
Please click here for more information on AB32IG and here for a fact sheet that show depth, breadth, and complicated nature of implementing this type of program.