What happens if not all allowances are sold at the first cap-and-trade auction?
Legal Planet: Environmental Law and Policy 2012-11-19
Summary:
California held its first cap-and-trade auction for greenhouse gas (GHG) allowances yesterday. The California Air Resources Board (CARB) will announce the results from that auction on Monday, Nov. 19. What happens if not all the allowances are purchased at the auction? The short answer is that unsold allowances will be withheld from the market and [...]