California': global warming law, first cap-and-trade auction

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http://www.santacruzsentinel.com/loc...omes-real-this

For more than 40 years, California has led the nation in environmental regulation, from passing the toughest coastal protection laws to America's first rules banning leaded gasoline.

Now, this week -- after Hurricane Sandy pushed the issue of climate change back into the national spotlight -- California will become the first state to begin requiring a broad range of businesses to reduce their greenhouse gas pollution.
At 10 a.m. Wednesday, the California Air Resources Board is scheduled to hold its first auction to sell pollution allowances under the state's landmark cap-and-trade law.
The idea is simple: The state sets an overall "cap" for California's greenhouse gas emissions, and companies must buy

Full cost accounting (FCA) generally refers to the process of collecting and presenting information — about environmental, social, and economic costs and benefits/advantages (collectively known as the "triple bottom line") - for each proposed alternative when a decision is necessary. It is a conventional method of cost accounting that traces direct costs and allocates indirect costs.

http://en.wikipedia.org/wiki/Full_cost_accounting