The California Air Resources Board endorsed its own cap-and-trade regulation in December. The measure sets a statewide limit on the emissions from sources responsible for 80% of California’s greenhouse gas emissions and establishes a price signal needed to drive long-term investment in clean fuels and more efficient use of energy. The cap-and-trade program works in concert with standards for cleaner vehicles, low carbon fuels, renewable electricity and energy efficiency. It also complements California’s existing efforts to reduce smog-creating air pollutants. The regulation will cover 360 businesses representing 600 facilities and is divided into two broad phases. The first phase begins in 2012 targeting major industrial sources and utilities. Then in 2015 the second phase adds distributors of transportation fuels, natural gas and other fuels.