California Doubles Offset Use in Cap-and-Trade Plan
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California environmental regulators plan to let power plants, oil refineries and factories use more carbon offsets to meet pollution targets in the state’s cap-and-trade program for greenhouse gases.
Companies in the cap-and-trade program could use the offsets, which are pollution cuts from unregulated sources such as farms and forests, to meet up to 8 percent of their “compliance obligation,” the California Air Resources Board said in a report on its website. The air quality agency had earlier proposed a 4 percent offset limit.