A combination of the Low Carbon Fuel Standard (LCFS) and California’s Cap-and-Trade Program can reduce the state’s greenhouse gas emissions and reduce dependence on oil more economically and effectively, relative to Cap-and-Trade alone.

The UK Government is committed to reducing carbon emissions to 80% below 1990 levels by 2050. This will require significant abatement in energy intensive industries (EIIs). However, in the absence of a binding global deal to reduce emissions, different countries are pursuing carbon reduction policies at different rates.