A four-year old law suit has recently become a top concern of the Californian carbon markets auctioning system. The lawsuit, initially started by the National Association of Manufacturers argues that the auctions represent an unconstitutional tax. Experts warn it is likely Californian carbon prices could collapse to their fundamental value amid the lawsuit which would abolish the industry market price. In this article, we will look at how California regulators are responding to the lawsuit.
A four-year old law suit has recently become a top concern of the Californian carbon markets auctioning system. The lawsuit, initially started by the National Association of Manufacturers argues that the auctions represent an unconstitutional tax. Experts warn it is likely Californian carbon prices could collapse to their fundamental value amid the lawsuit which would abolish the industry market price. Responses are due to be scheduled on 23rd May.