Authors
Mark C. Lewis and Isabelle Curien
California is an established global leader on energy efficiency and its 2020 targets for GHG-emissions reductions has now placed it alongside the EU as a world leader on climate change. The US State has set ambitious targets for both energy-efficiency gains and GHG-emissions reductions by 2020. Deutsche Bank details the measures proposed in the State’s AB-32 legislation and the Scoping Plan, which set out measures for achieving emissions-reduction and energy-efficient targets, and analyses the potential implications for carbon prices. Deutsche concludes that California’s 2020 targets imply a price range for carbon of $15/t - $60/t in 2008 real terms.