The New Mexico Environment Department (NMED) has released a preliminary draft rule for a cap-and-trade program to reduce greenhouse gas (GHG) emissions in the state. NMED has not yet filed the draft rule with the New Mexico Environmental Improvement Board.
The program would initially apply only to sources that emit 25,000 metric tons or more of carbon dioxide per year. The draft rule defines the conditions that would allow New Mexico to implement the GHG cap-and-trade program as part of the Western Climate Initiative (WCI) regional program.
One of the conditions in the draft rule is that New Mexico will only participate in the cap-and-trade program if there are sufficient pollution allowances within the WCI to make the trading program efficient and cost effective. The WCI states include California, Washington, Oregon, Utah, Montana, Arizona and New Mexico. The Canadian provinces include British Columbia, Manitoba, Ontario and Quebec.
The department requests public comments on the draft rule. Comments may be submitted at any time – though preferably no later than May 28 – at through the NMED's website, nmenv.state.nm.us.
SOURCE: The New Mexico Environment Department Â
