California won’t immediately change pollution credit program

By KATHLEEN RONAYNE
Associated Press

SACRAMENTO, Calif. (AP) — Newsom administration officials say they are in no rush to make changes to one of California’s key climate change programs despite concerns it won’t be able to meet its emissions reduction goals. The program in question is called cap and trade, and it requires companies that emit greenhouse gases to buy allowances equivalent to what they plan to pollute. But companies that participate have saved up hundreds of millions of credits. A panel of experts that advises state government says the state air board needs to do a thorough analysis of the saved credits to see if they will create a problem. But the state’s environmental protection secretary says that won’t happen until late 2023.