In posts over the next few days, I will explore four developments that indicate the move toward global development of a carbon cap-and-trade system for reducing greenhouse gases. First, the United Nations meeting in Poznan, Poland, concluded a further stage of negotiations over a post-2012, post-Kyoto treaty. While there remains a great deal to be completed before a treaty would be possible, this is the last time the Bush Administration will be obstructing negotiations and John Kerry meeting with representatives of the UN Delegation told the audience that the Obama Administration will be prepared to engage in serious negotiations after his inauguration.
In the United States, the State of California through the California Air Resources Board adopted its plan for regulating greenhouse gas emissions, which includes a cap-and-trade system. The Governor of Washington has proposed legislation to implement cap and trade in that state.
The most important of the four developments involves the negotiations in the European Union for their post 2012 Greenhouse Gas Emissions Trading System. The EU Parliament will vote on the proposal on December 17, 2008.
