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Midwest Governors Association Greenhouse Gas Accord Model Rule May 2010

The Midwest Governors Association released a model cap-and-trade rule in May 2010, aiming for a 2020 target of 20% reduction and a 2050 target of 80% reduction in greenhouse gas emissions compared to 2005 levels. The proposal includes offsets and system linkages with other climate initiatives. Details on offset project types are under discussion.

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Midwest Governors Association Greenhouse Gas Accord Model Rule May 2010

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  1. Midwest Governors Association(MGA)Greenhouse Gas AccordModel Rule GCF Aceh, May 2010

  2. Midwest Governors Association • 2007 Greenhouse Gas Accord Group Comprised of: Wisconsin, Minnesota, Michigan, Iowa, Illinois, Kansas, Manitoba

  3. Model Cap and Trade Rule • Released May 2010 • Intent to advocate for ideal elements of a federal system • 2020 target of 20% of 2005 levels • 2050 target of 80% of 2005 levels • Offsets are included

  4. Scope • Electricity, Industrial and Transportation fuels are included • Biomass, Biofuels and Biogenic emissions are excluded from regulation

  5. Linkages • System linkages would be examined with: • Western Climate Initiative • Northeast Regional Greenhouse Gas Initiative • European Emissions Trading System

  6. Offsets • <20% of compliance • International offsets can be allowed by petition after initial compliance period (3 years)

  7. Types of Offset Projects • Offset project types are not specified in the proposal • Technical and Science committees will recommend offset types to the regulatory agency

  8. Summary • MGA proposes allowing international forest offsets as part of cap and trade program • Details are not yet worked out • Discussions on-going within MGA and with other U.S. regions and federal agencies

  9. Thank you.Terima kasih.

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