In a recent executive order to be announced on Monday in New York, Gov. Arnold Schwarzenegger, with a view to reducing greenhouse gas emissions, intends to join California's landmark global warming law with the Northeast's program.
The executive order apparently would help in building carbon trading market between the two regions, and would enable the industrial plants to bring down their greenhouse gas emissions by approx. 25 percent by the year 2020.
At present, The Northeast system comprises seven states that intend to reduce greenhouse gas emissions by the start of the year 2009. Therefore, it allows power plants to trade emissions credits, the result of which would lead to a reduction in the overall emissions in the region.
Thus, joining hands with California would enable the power plants in that region to meet their new global warming law obligations.
Schwarzenegger's communications director Adam Mendelsohn said, "Gov. Schwarzenegger wants to build a large, robust carbon trading market that will dramatically reduce emissions. The more robust the market, the more effective we will be."
The executive order "will now get the northeast states working with California to trade credits in the very near future," Mendelsohn added.
The governor intends to have a separate meeting with Gov. George Pataki as well as New York City Mayor Michael Bloomberg, in order to discuss the implementation of California's landmark greenhouse gas emissions reduction system.
California's 2006 global warming law is quite significant for Schwarzenegger, who is running for re-election in November, which also makes him stand apart from Bush's ideology, who favors the voluntary reduction of gas emissions by the companies.
On the other hand, California's global warming law makes it mandatory to impose a statewide cap on greenhouse gas emissions, which has raised a hue and cry among many of manufacturers and cement makers in the state.
Therefore the executive order is a significant move effort undertaken by the Schwarzenegger government that would enable companies to buy, sell and trade emission credits rather than focusing on making reductions on their own.
Shedding some more light on the issue, Gino DiCaro, a spokesman for the California Manufacturers and Technology Association, said, "Implementing a cap and trade and allowing manufacturers to offset some of the substantial costs will help manufacturers deal with the greenhouse gas mandate."
