Proposed EPA Rule Would Lay Foundation for Federal Cap-and-Trade System
By Tom Mounteer, Deborah Schmall, Jennifer Shea and Matthew Raeburn
In what many see as a first step toward economy-wide cap-and-trade legislation, U.S. EPA recently published a proposed rule that would require certain facilities to monitor and report their greenhouse gas (GHG) emissions. In December 2007, Congress required EPA to gather GHG emissions information, which should lay the foundation for cap-and-trade legislation. The rule is only at the proposal stage. EPA is accepting public comment on the proposal until June 9, 2009, and EPA has conducted public hearings during the comment period. EPA expects to issue the final rule this summer and to require reporting by March 31, 2011.