The Western Climate Initiative (WCI) – a group of seven states on the West Coast of the United States and four Canadian provinces, intends to introduce a market-based emissions cap-and-trade scheme, as per a draft proposal released on Wednesday. Even though details such as how to appropriate emission allowances etc. are yet to be finalized, the group foresees a 2012 kick-off.
The WCI was initiated in 2007 by U.S. governors led by Arnold Schwarzenegger with the objective of taking concrete steps against climate change. It consists of the US states of Arizona, California, Montana, New Mexico, Oregon, Utah and Washington, along with the Canadian provinces of British Columbia, Manitoba, Ontario and Quebec. Several states in the two countries as well as Mexico are observers in the WCI.
The WCI hopes to reduce greenhouse gas emissions by fifteen per cent as compared to 2005 levels by 2020.
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