California Code of Regulations › Title 17 - Public Health › Division 3 - Air Resources › Chapter 1 - Air Resources Board › Subchapter 10 - Climate Change › Article 5 - California Cap on Greenhouse Gas Emissions and Market-Based Compliance Mechanisms › Subarticle 12 - Linkage to External Greenhouse Gas Emissions Trading Systems › Section 95942 - Interchange of Compliance Instruments with Linked External Greenhouse Gas Emissions Trading Systems

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
						Once a linkage is approved, a compliance instrument issued by the approved
						external GHG ETS, as specified in this section, may be used to meet a
						compliance obligation under this Article.
(b) An allowance issued by an approved
						external GHG ETS and specified in this section is not subject to the
						quantitative usage limit specified in section
						95854.
(c) An offset credit or sector-based credit
						issued by an external GHG ETS is subject to the quantitative usage limit
						specified in section
						95854, when used to meet a
						compliance obligation under this Article.
(d) Once a linkage is approved, a compliance
						instrument issued by California may be used to meet a compliance obligation
						within the approved External GHG ETS.
(e) Once a linkage is approved, a compliance
						instrument issued by the linked jurisdiction may be used to meet a compliance
						obligation in California.
(f) The
						administrator of the approved External GHG ETS must agree to inform the
						Executive Officer of any of the serial numbers of California compliance
						instruments that the External GHG ETS accepts for compliance.
(g) The Executive Officer will agree to
						inform the appropriate official in the approved External GHG ETS of any of the
						serial numbers of compliance instruments accepted by California for
						compliance.
(h) The Executive
						Officer will register into the Retirement Account compliance instruments issued
						by California that are used for compliance within the approved External GHG
						ETS, along with information identifying the External GHG ETS actually retiring
						the compliance instruments.
(i) If
						an approved External GHG ETS has taken an official act to revoke, repeal, or
						indefinitely suspend its ETS program or one of the linkage findings made
						pursuant to Government Code section
						12894(f)
						is no longer supported, the Executive Officer may suspend, revoke, or repeal
						the approved linkage. In taking such action, the Executive Officer may limit
						transfers in or out of holding accounts pursuant to sections
						95921 or
						96011, modify auction notices
						pursuant to section
						95912, and modify holding limits
						pursuant to section
						95920, and cancel or issue
						additional allowances to ensure the environmental stringency of the California
						Cap-and-Trade Program is maintained as if there had not been a linkage approved
						with the External GHG ETS.
(1) Within 24
						hours of taking action to suspend, revoke, or repeal the approved linkage, the
						Executive Officer shall post publicly the specific action taken with an
						explanation of why it was necessary to the Cap-and-Trade Program
						website.
(2) The public information
						will include:
(A) A contact name for
						questions regarding the action;
(B)
						Duration of the action, if known;
(C) Any details on the status of existing
						compliance instruments in accounts; and
(D) Any other relevant
						information.