California's Cap and Trade Program is now a reality. Businesses needs answers to questions arising from this complex program. Now that the State of California has held its first auction of carbon allowances under the Program and the initial compliance period of 2013-2014 is now underway, Stoel attorneys Michael Mills, Tom Henry and Allison Smith have prepared a primer on the basics of this complicated regulatory scheme. This helpful guide explains the differences between allowances and offsets, which industries are subject to regulation in different compliance periods, the basics of the trading program, and the penalties for non-compliance.
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