Manatt Professional Featured in Argus Air Daily
“Argus Q&A: Jon Costantino”Argus Air Daily
November 28, 2011 – Argus Air Daily published an article featuring Manatt’s Jon Costantino, a senior advisor in the firm’s Climate Change, Environmental & Clean Energy Policy Practice Group. In a Q&A session with the publication, Costantino discusses the challenges facing the California environmental market, especially the obstacles the California Air Resources Board (ARB) is facing as it prepares to implement its cap-and-trade program.
When asked to describe the biggest challenges ARB must overcome to implement the cap-and-trade program before the first allowance auction in August 2012, Costantino replied:
“Well, it is a new program, so there are a lot of details that still need to be worked out. Everything from finalizing policy, to creating forms, to electronic platforms, to getting information out to stakeholders. The reason the board provided the one-year delay is that all of these details need to be worked out. The board has committed to a market survey committee and the adaptive management plan, all of that is not finalized yet, so just getting the program completed is probably the biggest obstacle in front of the board. The broad policies are already laid out and everybody knows what the program should look like, but there are tons of details that still need to be worked out. Just getting from point A to point B, there is a lot of work involved.”
Costantino also answered the publication’s questions on ARB’s approach to correcting market failures, the possible legal challenges ahead, and how the price of carbon will affect the prices of other resources.
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