The objective of the SoCal Climate Solutions Exchange is to ensure real, surplus, verifiable greenhouse gas (GHG) reductions from voluntary, early actions.  This will provide incentives for local investments and assist local businesses in capturing voluntary early GHG reductions.  Incentives will be developed for projects in environmental justice areas, and any co-pollutant benefits from GHG reduction projects will be retained locally.

Development of the SoCal Climate Solutions Exchange will require criteria and procedures for the Governing Board to approve quantification protocols, and enabling rules for reduction generation, certification, registration, and exchange.  An Air Quality Investment Program is also envisioned.  Administrative procedures and fees will also need to be specified.

A Technical Advisory Group has been formed to assist staff in developing the initial concepts.  A White Paper (PDF, 233kb) was developed and presented at the June 6, 2008 Governing Board meeting.  The White Paper provided background information on climate change, the benefits that could be realized from the SoCal Climate Solutions Exchange and staff's initial concepts for the program.  The Governing Board directed staff to initiate formal rule development.  Staff will work with the Governing Board's Climate Change Committee and will continue working with the Technical Advisory Group and others to develop draft rules for the Board's consideration in September or October, 2008. 

Meetings:

For questions, comments or further information on the SoCal Climate Solutions Exchange, please contact Jill Whynot, Director of Strategic Initiatives, at jwhynot@aqmd.gov or 909-396-3104.