Description of Stanford Business School Video: California, the ninth largest economy in the world, recently launched a new carbon cap-and-trade system to reduce greenhouse gas emissions to 1990 levels by 2020. Mary Nichols, chair of the California Air Resources Board, leads this program that could provide a model to support other regional or national efforts to cut greenhouse gas emissions.

Moderated by Professor Mar Reguant, Nichols discusses the new cap-and-trade system and the current thinking around regional and federal policies.

Nichols presented her lecture at the Stanford Graduate School of Business as part of the 2013 Conradin Von Gugelberg Memorial Lecture.