(February 13, 2007) The task of drafting recommendations for market-based measures — including emissions trading — that could help California reach its goal of capping greenhouse gas emissions is the chief assignment of an advisory committee of the California Environmental Protection Agency (Cal/EPA).

The Market Advisory Committee has scheduled its first public meeting for February 27 at the Cal/EPA building in Sacramento.

Governor Arnold Schwarzenegger ordered the creation of the committee in an executive order issued to outline steps the administration should take to implement California’s greenhouse gas reduction law, AB 32 (Núñez; D-Los Angeles; Chapter 488, Statutes of 2006).

Compliance Program Design
The committee is to recommend to the state Air Resources Board by June 30 a design for a market-based compliance program.

In announcing the 14 members of the committee, Cal/EPA said they were recruited based on their “public policy experience and professional or academic expertise in market-based compliance mechanisms such as trading, offsets, banking and auctioning of emission allowances.”

Advisory Committee
Chairing the committee is Winston Hickox, Cal/EPA secretary during the administration of Governor Gray Davis. As Cal/EPA secretary, Hickox supported enactment of 2002 legislation requiring new greenhouse gas emission standards for cars, AB 1493 (Pavley; D-Agoura Hills; Chapter 200).

Since 2004, Hickox has been a senior portfolio manager for the California Public Employees’ Retirement System, helping with the design and implementation of a series of environmental investment initiatives, including investments in clean technology and others focused on the impacts of climate change.

Also named to the committee was former California Assemblyman Joe Nation (D-San Rafael), co-author of AB 32 and the author of 2005 legislation requiring auto manufacturers to conspicuously disclose to consumers the greenhouse gas emissions of new automobiles and trucks. Nation is teaching economics and climate change at the University of San Francisco.

Other committee members include staff members or leaders of environmental organizations focusing on climate change issues, economists, a climate change policy coordinator for New York, the director of the British division responsible for coordinating emissions trading and climate change agreements, and the European Union emission trading system coordinator.

Staff Contact: Amisha Patel