California's Forestry Offsets Program
By: K Gregg Elliott
The first U.S. market for forest carbon offset projects implemented anywhere in the U.S. will open in 2012. The state of California, as in so many things, is poised for a for a first. Under its Global Warming Solutions Act, known as AB32, the Golden State will establish the nation’s first compliance carbon market to allow forest carbon offsets. California’s carbon market, which opened in January 2012, will be the second largest in the world, after the European Union, and the largest in North America. New England’s Regional Greenhouse Gas Initiative, or RGGI, is currently North America’s only compliance market for carbon emissions but does not allow forest carbon offsets.
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