Schwarzenegger Invites Global Leaders to Talk Carbon Caps

Last week, California's Governor Schwarzenegger announced a meeting in November with several global leaders to discuss greenhouse gas emissions and carbon cap-and-trade markets. California and the other states in the Western Climate Initiative plan to cut carbon emissions by 15 percent from the 2005 level by 2020. More on the meeting below the fold.

In November, Governor Schwarzenegger will meet with leaders from China, India, Europe, Mexico, Australia and Canada ahead of December climate talks in Poland. His goal is to mobilize local governments where federal governments are failing to step in.

He told the California Commonwealth Club, "We know that Washington is asleep at the wheel. We cannot look for leadership there. We are not waiting for the federal government."

The meeting in California is intended to make green leaders outside of these sleeping federal governments. US States, including the Western Climate Initiative, are already moving to make things happen on their own. Ten states in the Northeast US just launched the Regional Greenhouse Gas Initiatives, a cap-and-trade market that plans to lower its emissions levels by 10 percent by 2019.

Schwarzenegger also said in seperate statement he opposes California offshore drilling despite the federal government's recent lifting of the ban on it.

Via:: Reuters

More on Carbon Cap-and-Trade Markets:

Creating a Global Carbon Market
Cap-and-Trade Markets May Result in Tree Cutting Incentive
Ontario and Quebec Create Cap-and-Trade Market

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