Comments may be submitted electronically on ARB’s website
. The ARB board will meet June 22 – 23 to consider Scoping Plan implementation.
Under existing law, the Scoping Plan must be updated at least every five years. The most recent update was issued in 2014. ARB initiated the current Scoping Plan Update in order to comply with Executive Order B-30-15
, which required the Scoping Plan to be updated to reflect the midterm greenhouse gas (GHG) emissions reduction target of 40 percent below 1990 levels by 2030. Gov. Jerry Brown signed SB 32 (Pavley) earlier this year to codify the executive order.
Recent ARB Auction Proceeds
The ARB has released its most recent auction results in February that showed lower than expected generated revenue. The auction generated about $8 million in revenue, which is significantly lower than past auctions that have generated $364 million. Lawsuits challenging the cap and trade system are widely considered a contributing factor to the auction proceed volatility. It is also important to note, that only approximately 17 percent of the allowances offered for sale were purchased in the February auction. This auction fits into the recent trend of fluctuations in Cap-and-Trade auctions over the last year. More specific information on auction proceeds and expenditures can be found in the 2017 annual report to the Legislature on Cap-and-Trade Auction Proceeds.
Important Next Steps
The League will continue to provide additional information on the Scoping Plan as it becomes available and encourages cities to weigh-in on questions or concerns to the ARB by April 10.