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November 15, 2012

Calif. auctions carbon emission permits

  • Under the program, the state sets a limit on emissions. Businesses must either cut emissions to that level or buy ‘allowances' from other companies.
    Associated Press

    SAN FRANCISCO — California began auctioning permits Wednesday for greenhouse gas emissions, launching one of the world's most ambitious efforts to cut heat-trapping gases from industrial sources.

    The California Air Resources Board said it began selling the pollution “allowances” in a closed, online auction expected to create the world's second-largest marketplace for carbon emissions.

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