California Air Resources Board Cap-and-Trade Program

A native of Armenia, Levon Termendzhyan immigrated to the United States at the age of 14 and immediately began working in the oil and gas industry. Today, he leads several companies in the energy sector, including Noil Energy Group and Viscon International. At Viscon, Levon Termendzhyan leads development of a pollution-reducing fuel additive that has received certification from the California Air Resources Board (CARB).

Since its founding in 1967, CARB has spearheaded some of the most important environmental legislation and policy initiatives in American history. In addition to developing the first tailpipe emissions laws in the United States, CARB’s tireless advocacy for environmentally friendly regulations helped inspire the first federal Clean Air Act.

Today, CARB maintains a range of climate-change programs, including the California Cap-and-Trade Program, which sets limits on the amount of greenhouse gases (GHG) that any individual business in the state is allowed to produce. If a company produces more than its assigned limit, it either pays a penalty or must buy extra GHG allowances from other companies that have not used theirs. 

The CARB-led cap-and-trade program in California aims to reduce overall emissions in California to 1990 levels by the year 2020, with a further 80 percent reduction of that total by 2050. In addition, CARB is coordinating with several Canadian provinces to create complementary cap-and-trade rules and joint goals.