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Western Climate Initiative (WCI) |
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Western Climate Initiative (WCI) was created on February 2007 for reduction of regional greenhouse gas emissions. WCI also aims to reduce North American energy dependency from foreign oil sources.
Western Climate Initiative (WCI) was started in February 2007 to fight the specter of climate change caused by global warming. Members of WCI are provinces and states along the western rim of North America. Member states include California, New Mexico, Washington, Manitoba, Quebec, Arizona, Ontario, Oregon, British Columbia and Montana.
The Western Climate Initiative recommends the implementation of a market based cap and trade program. The program will encompass nearly 90% of the region's total emissions. It will encompass emission from industry, transportation and electricity. WCI also includes commercial and residential fuel usage. There will be no adverse impact on businesses and consumers. WCI assists in building a clean-energy economy and catalyze the development of environmental friendly technologies.
Applicable areas
The WCI program will encompass:
- Combustion of commercial and industrial fossil fuel
- Diesel and gas consumption for transportation use
- Fuel for residential purpose
- Generation of electricity
- Emissions due to industrial processes
Implementation
Western climate initiative policies will be implemented in a phased manner. Allowances will be made to cover emissions within a 3 year compliance period. The first phase is scheduled to begin from 1st January, 2012. It will cover industrial process emissions and imported electricity. The second phase is scheduled to start from 2015.
Companies covered by WCI rules can buy allowances through auction, sell and buy them on secondary markets. They may also bank them for further usage.
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