On February 28, 2008, the California Air Resources Board (CARB) reviewed a report prepared by the Economic and Technology Advancement Advisory Committee (ETAAC) proposing measures to reduce greenhouse gas (GHG) emissions by 25% prior to 2020. Created by CARB as mandated by AB 32 (California Global Warming Solutions Act of 2006), ETAAC met regularly for over a year before finalizing its report on February 11, 2008. ETAAC’s report makes recommendations for reducing GHG emissions in seven distinct sectors:
- Industrial, Commercial & Residential Energy Use
- Electricity and Natural Gas
ETAAC’s report provides approximately 50 recommendations for the reduction of GHG emissions to meet the mandates of AB 32.
ETAAC’s report also contains a section addressing how the emission cap and trade program recommended in the Market Advisory Committee (MAC) report issued on June 30, 2007 might affect investments in and the implementation of technologies and other solutions designed to help meet AB 32’s GHG emission reduction goals. ETAAC’s report concludes that even a well-designed cap and trade system cannot address all of the different market failures that may prevent or impede the development and deployment of new low-carbon technologies and that complementary measures and regulations will also be necessary.
ETAAC’s report does not represent the official position of CARB, but is a document that CARB will use as a resource when it considers future proposals to reduce GHG emissions in compliance with AB 32.