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What happens to offsets in capped industries under cap and trade? Are offsets convertible into allowances?

April 26, 2017allowances cap capped convertible happens industries offsets Trade

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What happens to offsets in capped industries under cap and trade? Are offsets convertible into allowances?

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Activities that are regulated under cap and trade would no longer produce offsets. Proponents may be able to enter into a contract with PCT for allowances related to a project that was producing offsets prior to the implmentation of the cap.