USA: What do climate change bills mean for businesses?
Author: Allen Young, Sacramento Business Journal (USA), Published on: 28 August 2015
“An FAQ on climate-change bills: What they mean for business”, 25 Aug 2015
…To show California’s business community is on board with the legislation, Senate leader Kevin de León appeared alongside representatives for Facebook, Apple and Dignity Health, among other companies with progressive leanings. The two bills, Senate Bill 32 and Senate Bill 350, authorize the California Air Resources Board to create regulatory programs aimed at exponentially cutting pollution through 2050. Many businesses do not support the legislation, however…What would these laws mean for me and my business?...The most widespread anti-pollution program in use by CARB right now is cap-and-trade, which essentially charges companies for their right to pollute. So far, only heavy industrial firms and oil companies have taken a significant hit, though even energy experts that support cap-and-trade acknowledge that it has caused gas prices to increase by about 10 cents a gallon this year. But the biggest cap-and-trade costs are expected to arrive in 2018, when prices sharply increase for “carbon credits” that polluting companies must purchase from the state…