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CARB Releases Climate Change Blueprint (Report Attached)
California Air Resources Board
Date: 2022-05-13
In Sacramento, California's clean-air regulators California Air Resources Board (CARB) has released its 2022 "scoping plan" focused on reducing reliance on oil, capturing carbon dioxide emitted by industries, increasing dependence on renewable energy, biofuels, energy efficiency, electric vehicles and othet measures and initiative, but minimal stress on cap-and-trade as key commitments to fighting climate change.

The plan is intended to fulfill state mandates that require reducing carbon dioxide and other climate-warming emissions 40 pct below 1990 levels by 2030 and achieving carbon neutrality by 2045. The strategies would cost an estimated $18 billion in 2035 and $27 billion in 2045.

CARB notes it will be evaluating a cap-and-trade, carbon offsetting program in 2023 after reviewing regulatory changes that came into force in Jan., 2021 and other additional data.

Download the 2022 Scoping Plan HERE . (Source: California Air Resources Board, 12 May, 2022) Contact: California Air Resources Board, ww2.arb.ca.gov

More Low-Carbon Energy News California Air Resources Board ,  


CARB Releases Climate Change Blueprint (Report Attached)
California Air Resources Board
Date: 2022-05-13
In Sacramento, California’s clean-air regulators California Air Resources Board (CARB) has released its 2022 “scoping plan” focused on reducing reliance on oil, capturing carbon dioxide emitted by industries and increasing dependence on renewable power sources, such as wind, solar and electric cars -- but minimal stress on cap-and-trade -- as key commitments to fighting climate change and eliminating 91 pct of oil used in the state by 2045.

The plan is intended to fulfill state mandates that require reducing carbon dioxide and other climate-warming emissions 40 pct below 1990 levels by 2030 and achieving carbon neutrality by 2045. The strategies would cost an estimated $18 billion in 2035 and $27 billion in 2045.

. CARB notes it will be evaluating the cap-and-trade program in 2023 and providing more details after the plan is finalized and voted on by the board this summer. They said they need additional data because of regulatory changes that went into effect in January 2021, which included reduced offsets and a new price ceiling for allowances.

Download the 2022 Scoping Plan HERE . (Source: California Air Resources Board, 12 May, 2022) Contact: California Air Resources Board, ww2.arb.ca.gov

More Low-Carbon Energy News California Air Resources Board news,  Carbon Emissions news,  Climate Change news,  


World Bank Talks Carbon Pricing (Opinions, Editorials & Asides)
World Bank
Date: 2022-01-07
"The phrase put a price on carbon has now become well known with momentum growing among countries and business to put a price on carbon pollution as a means of bringing down emissions and drive investment into cleaner options.

"There are several paths governments can take to price carbon, all leading to the same result. They begin to capture what are known as the external costs of carbon emissions -- costs that the public pays for in other ways, such as damage to crops and health care costs from heat waves and droughts or to property from flooding and sea level rise -- and tie them to their sources through a price on carbon.

"A price on carbon helps shift the burden for the damage back to those who are responsible for it, and who can reduce it. Instead of dictating who should reduce emissions where and how, a carbon price gives an economic signal and polluters decide for themselves whether to discontinue their polluting activity, reduce emissions, or continue polluting and pay for it. In this way, the overall environmental goal is achieved in the most flexible and least-cost way to society. The carbon price also stimulates clean technology and market innovation, fueling new, low-carbon drivers of economic growth.

"There are two main types of carbon pricing: emissions trading systems (ETS) and carbon taxes:

  • An ETS -- sometimes referred to as a cap-and-trade system -- caps the total level of greenhouse gas emissions and allows those industries with low emissions to sell their extra allowances to larger emitters. By creating supply and demand for emissions allowances, an ETS establishes a market price for greenhouse gas emissions. The cap helps ensure that the required emission reductions will take place to keep the emitters (in aggregate) within their pre-allocated carbon budget.

  • A carbon tax directly sets a price on carbon by defining a tax rate on greenhouse gas emissions or -- more commonly -- on the carbon content of fossil fuels. It is different from an ETS in that the emission reduction outcome of a carbon tax is not pre-defined but the carbon price is.

    "The choice of the instrument will depend on national and economic circumstances. There are also more indirect ways of more accurately pricing carbon, such as through fuel taxes, the removal of fossil fuel subsidies, and regulations that may incorporate a 'social cost of carbon.' Greenhouse gas emissions can also be priced through payments for emission reductions. Private entities or sovereigns can purchase emission reductions to compensate for their own emissions (so-called offsets) or to support mitigation activities through results-based finance.

    "Presently, some 40 countries and more than 20 cities, states and provinces already use carbon pricing mechanisms, with more planning to implement them in the future. Together the carbon pricing schemes now in place cover about half their emissions, which translates to about 13 percent of annual global greenhouse gas emissions." (Source: World Bank, Website, 2022) Contact: World Bank, www.worldbank.org

    More Low-Carbon Energy News World Bank,  Carbon Tax,  Cap-and-Trade,  Carbon Emissiuons,  EU ETS,  


  • RGGI Yields $8.5Mn for Ocean State (Ind. Report)
    RGGI
    Date: 2021-11-05
    RGGI Yields $8.5Mn for Ocean State (Ind. Report) The Rhode Island Office of Energy Resources (RIOER) is reporting the state received $8.5 million in September this year from the sale of emission permits as a result of its participation in the Regional Greenhouse Gas Initiative (RGGI), the 11 state cap-and-trade program to reduce CO2 emissions .

    The proceeds of the auctions are largely used to fund various green initiatives. Historically, the price (of emission permits) has stayed around $5 to $7 a ton of carbon -- costing consumers roughly an additional 5 cents a gallon of gas.

    RGGI is a collaboration of states that began with Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island and Vermont, and more recently added New Jersey and Virginia with Pennsylvania waiting in line. (Source: Rhode Island Office of Energy Resources, PR, Brown Herald, 3 Nov., 2021) Contact: Rhode Island Office of Energy Resources, www.energy.ri.gov/policies-programs/programs-incentives/rggi.php; RGGI, www.rggi.org

    More Low-Carbon Energy News RGGI,  Cap-and-Trade,  Carbon Emissions,  Carbon Market,  Carbon Credits,  


    NC Acts to Cut Power Plant Emissions (Ind. Report)
    North Carolina Environmental Management Commission
    Date: 2021-07-16
    Further to our 21 June coverage, in Raleigh, the North Carolina Environmental Management Commission reports its will develop rules governing power plant pollution and emissions in an effort to reduce carbon emissions by 70 pct of 2005 levels by 2030 .

    The directive also prepares North Carolina for joining the Regional Greenhouse Gas Initiative. It’s a cap-and-trade program for power plant emissions in 11 mid-Atlantic and Northeastern states. (Source: North Carolina Environmental Management Commission, Website, PR, AP, 14 July, 2021) Contact: North Carolina Environmental Management Commission, 877-623-6748, deq.nc.gov/about/divisions/water-resources/water-resources-commissions/environmental-management-commission; RGGI, www.rggi.org

    More Low-Carbon Energy News RGGI,  Carbon Emissions,  


    Pennsylvania Moving Closer to RGGI Membership (Ind. Report)
    RGGI
    Date: 2021-07-14
    Following up on our February 17 coverage, in Harrisburg, the Pennsylvania Environmental Quality Board reports it voted 15-4 to adopt the final regulation that would have the Keystone State join the Regional Greenhouse Gas Initiative (RGGI) cap-and-trade program that targets power sector carbon dioxide emissions. The rule now goes to the Independent Regulatory Review Commission and the Attorney General's Office for final review before publication.

    Governor Tom Wolf (D) signed an executive order starting the RGGI process in October 2019, as part of his overall climate goals of reducing state greenhouse gas emissions 26 pct by 2025 and 80 pct by 2050, compared to 2005 levels. The Pennsylvania DEP estimates RGGI participation will prevent between 97-227 million tons of carbon emissions between 2022 and 2030, depending on factors such as energy demand. Pennsylvania is among the country's top five carbon emitting states.

    Under RGGI, power plants with a generation capacity of at least 25 MW and that send 10 pct or more of their power to the grid must purchase allowances for each ton of CO2 they emit. RGGI began with Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island and Vermont, and more recently added New Jersey and Virginia. (Source: Pennsylvania Environmental Quality Board, Allegheny Front, 14 July, 2021) Contact: RGGI, www.rggi.org

    More Low-Carbon Energy News Carbon Emissions,  RGGI,  


    NDP Launches Climate Plan for Ontario (Ind. Report)
    New Democratic Party
    Date: 2021-03-08
    In Toronto, the New Democratic Party of Canada (NDP) is touting its Ontario Climate. Jobs. Justice. A Green New Democratic Deal and its commitment to make Ontario net-zero by 2050 and creating as many as one million total jobs throughout the life of the deal. The NDP Plan calls for:
  • A mandate for all newly built public, residential and commercial buildings to be net-zero emissions by 2030, alongside a world-leading building energy efficiency retrofit program;

  • Ontario's first zero-emissions vehicle strategy, ramping up electric vehicle sales to hit a 100 pct target by 2035, requiring all new home construction to include electric vehicle charging capacity and giving $600 for installation of residential electric vehicle charging stations at existing homes;

  • Electrifying all municipal transit fleets and systems by 2040;

  • A new, more fair emissions cap-and-trade program;

  • Establishing Ontario's first Youth Climate Corps and planting one billion trees by 2030;

  • Restoring the powers of the provincial Environment Commissioner.

    The NDP plan stands in stark contrast to Conservative Premier Doug Ford's "anti-environment crusade that has gutted conservation authorities, paid hundreds of millions of dollars to tear down wind farm projects and cancelled Ontario's cap-and-trade program." (Source: New Democratic Party, PR, Mar., 2021) Contact: New Democratic Party of Canada, www.ndp.ca

    More Low-Carbon Energy News Carbon Emissions,  Ontario Climate Change,  


  • University Earns $1.18Mn for Greenhouse Gas Reduction (Ind. Report)
    California State University Dominguez Hills
    Date: 2021-01-08
    In the Golden State, the California State University Dominguez Hills (CSUDH) in Carson is reporting receipt of over $1.18 million in performance payments from the Clean Energy Optimization Pilot, a four-year, $20 million effort for reducing greenhouse gas emissions.

    The Southern California Edison (SCE) administered program payments are funded through SCE's cap-and-trade auction revenues and is based on actual metered results. Success is measured on greenhouse emissions avoided, rather than the standard method of measuring reduced energy use.

    In qualifying for the payment, CSUDH upgraded its natural gas absorption chillers with electric chillers, and one large natural gas boiler with eight small condensing staged boilers for a 57 pct reduction in natural gas usage, a 2.8 million gallons drop in water usage in one year, and significantly cut to CSUDH's greenhouse gas emissions. Other energy savings initiatives included installation of new LED lighting and smart sensors in several campus buildings. (Source: California State University Dominguez Hills, PR, Daily Breeze, 6 Jan., 2020) Contact: California State University Dominguez Hills, 310-243-3696, www.csudh.edu

    More Low-Carbon Energy News Southern California Edison,  GHGs,  Greenhouse Gas Emissions,  


    Garden State Drops Regional Climate Program (Ind. Report)
    New Jersey,Georgetown Climate Center
    Date: 2020-12-23
    New Jersey reports it has opted out of the regional Transportation and Climate Initiative cap-and-trade program that could have raised state gas taxes by as much as 17 cents per gallon.

    Under the program, New Jersey bumped up its gas tax by 9 cents in October to 50.7 cents per gallon for regular gas. It was the latest increase following the 2016 state referendum, under then Gov. Chris Christie, that empowered lawmakers to raise the gas tax by nearly 23 cents in exchange for a requirement the additional money go to the state's Transportation Trust Fund.

    The 2016 measure also included a formula that requires yearly reviews to ensure New Jersey raises a set amount of money -- roughly $2 billion a year -- potentially resulting in smaller annual increases.

    Connecticut, Massachusetts, Rhode Island, and the District of Columbia all signed on to the Transportation and Climate Initiative Program, a cap-and-trade initiative initially proposed by the Georgetown Climate Center for 13 states and the District. (Source: WPG, 22 Dec., 2020) Contact: Georgetown Climate Center, Pete Rafle, Communications, 703-268-3923, Peter.Rafle@georgetown.edu, www.georgetownclimate.org

    More Low-Carbon Energy News Cap-and-Trade,  Carbon Tax,  


    Transportation Climate Initiative Progress Report (Ind. Report)
    Transportation Climate Initiative
    Date: 2020-12-21
    On Monday, the Transportation Climate Initiative collaborative -- which includes 12 Northeast and mid-Atlantic states and the District of Columbia -- is expected to announce a "memorandum of understanding" that sets the regional cap-and-trade plan in motion to begin in 2022.

    Modeled on the Regional Greenhouse Gas Initiative (RGGE), which has reduced emissions from power plants, the transportation pact creates a cap-and-invest program to drive down emissions from cars and trucks. It targets gasoline and diesel fuel consumption, which account for more than 40 pct of regional carbon emissions that scientists say contribute to climate change.

    Under the plan, suppliers who deliver fuel across state lines will be taxed on emissions above limits that still must be set. Those costs are expected to be passed on to consumers. The pact is expected to reduce regional emissions by as much as 24 pct in the next 11 years, and generate up to $500 million a year for green projects.

    The Transportation and Climate Initiative (TCI) is a regional collaboration of 12 Northeast and Mid-Atlantic states and the District of Columbia that seeks to improve transportation, develop the clean energy economy and reduce carbon emissions from the transportation sector. The participating states are: Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, and Virginia. (Source: Eagle Tribune, 20 Dec., 2020) Transportation Climate Initiative, www.transportationandclimate.org

    More Low-Carbon Energy News RGGI,  Transportation Climate Initiative,  


    Forest Carbon Works Raises $5Mn (Ind. Report, Funding)
    Forest Carbon Works
    Date: 2020-10-07
    Forest Carbon Works reports raising an additional $5M in growth capital from AXA Investment Managers Impact Fund: Climate and Biodiversity. The funds will be used to increase membership-based services throughout nation-wide.

    Forest Carbon Works delivers premium payments to landowners for long-term conservation and climate outcomes on properties as small as forty acres. As members of Forest Carbon Works, some landowners are already getting paid more than $50,000 each year. Membership payments are substantial because carbon credits generated using the platform are legally recognized by the first enforced cap-and-trade program in the United States.

    (Source: Forest Carbon Works, PR, 6 Oct., 2020) Contact: Forest Carbon Works , (415) 475-8966, inquire@forestcarbonworks.com, www.forestcarbonworks.org

    More Low-Carbon Energy News Carbon Credits,  Forest Carbon Works,  Carbon Sequestration,  Carbon Emissions,  


    CERI Touts EU ETS Over Carbon Tax to Cut Emissions (Ind. Report)
    Canadian Energy Research Institute
    Date: 2020-08-19
    A recent study from the Canadian Energy Research Institute (CERI) compared the province of British Columbia's $40 per tonne carbon tax and Alberta's Technology Innovation and Emissions Reduction (TIER) program taxing heavy emitters $30 a tonne, to the European emissions trading scheme (EU ETS) and Quebec's cap-and-trade agreement with California and noted that overall, the EU ETS policy was more effective at reducing greenhouse gas (GHG) emissions than the Carbon Tax policy or a Hybrid policy.

    In keeping with the study findings, the CERI study proposed the following to lower emissions:

  • Both carbon tax and emissions trade systems have a great capacity to reduce GHG emissions; however, a level at which they are utilized is not adequate for significant change towards low carbon economies;

  • Strengthening existing and adding new carbon policies and actions, especially those that can deal with carbon leakage, is needed;

  • Current carbon prices in many jurisdictions remain insufficient to achieve the objectives of the Paris Agreement, even with extended carbon pricing policies in place to align with the specific GHG reduction targets;

  • Stronger complementary policies and actions are needed to achieve the total reductions in GHG emissions in a case of the BC carbon tax;

  • Lessons from ETS systems, especially California's cap-and-trade system, has revealed that the economy-wide approach can be more efficient than managing specific sectors differently;

  • Linkage of a cap-and-trade system with those in other jurisdictions (such as California's cap-and trade system linked with Quebec) could potentially reduce abatement costs, price volatility, and market power.

    The Calgary-based Canadian Energy Research Institute is an independent, not-for-profit research establishment created through a partnership of industry, academia, and government in 1975. CERI aims to provide relevant, independent, objective economic research in energy and environmental issues to benefit business, government, academia and the public and to build bridges between scholarship and policy,combining the insights of scientific research, economic analysis, and practical experience. (Source: Canadian Energy Research Institute, PR, Western Standard, Aug., 2020) Contact: Canadian Energy Research Institute, (403) 282-1231, info@ceri.ca, www.ceri.ca

    More Low-Carbon Energy News Canadian Energy Research Institute,  ETS,  Carbon Tax,  Carbon Emissions ,  


  • PA RGGI Membership, Carbon Tax Stymied (Ind. Report, Reg.& Leg.)
    RGGI, Carbon Tax
    Date: 2020-07-10
    In Harrisburg, the Keystone State Republican-controlled House of Representatives on Wednesday forwarded legislation aimed at blocking Gov. Tom Wolf (D) from imposing a price on greenhouse gas emissions from power plants and from the Governor's previuosly announced plan to bring Pennsylvania into the 10-state Regional Greenhouse Gas Initiative (RGGI).

    Both RGGI and a carbon tax are central to the governor's strategy to fight climate change. If Wolf's plan is successful, Pennsylvania would become the first major fossil fuel state to adopt a carbon pricing policy.

    Proponents claim the RGGI cap-and-trade program would inject new life into Pennsylvania's economy by prioritizing energy efficiency and cleaner energies. (Source: Office of Penna. Gov. Tom Wolf, CBS Pittsburgh, AP, 9 July, 2020) Contact: Office of Penna. Gov. Tom Wolf, 717-787-2500, www.facebook.com › governorwolf, www.governor.pa.gov

    More Low-Carbon Energy News RGGI,  Carbon Tax,  Tom Wolf,  


    San Diego County 100 pct Carbon Offsets Program Nixed (Reg & Leg)
    California Carbon Offset
    Date: 2020-06-19
    In the Golden State, the LA Times is reporting the 4th District Court of Appeal in San Diego last week ruled against San Diego County's Climate Action Plan and its 100 pct carbon offset provision which the county was hoping would entice developers to housing projects on undeveloped land throughout unincorporated territory.

    State Atty. Gen. Xavier Becerra's office argued against the county's offset scheme on the grounds that it could undermine the state's goals of slashing carbon emissions by 40 pct by 2030 and 80 pct by 2050.

    The court noted that while the state has strict rules for monitoring and ensuring that offsets represent real reductions in greenhouse gas, the county had no such quality controls. Additionally, while the state's program has been largely limited to offset projects in the United States, San Diego county's program would have allowed the use of offsets generated anywhere around the world.

    The court also pointed out that the state's program under cap-and-trade has only allowed businesses to cancel out up to 8 pct of their emissions using offsets, while the county program would have allowed projects to offset upwards of 100 pct of their carbon footprint.

    While California allows businesses to use offsets under the cap-and-trade program, the state still counts those canceled-out emissions as part of its overall carbon footprint. Offsets were included simply as a cost-containment mechanism under the larger emissions-trading program, the LA Times noted. (Source: LA Times, 17 June, 2020) Contact: California Attorney General Xavier Becerra, (916) 210-6000, oag.ca.gov

    More Low-Carbon Energy News Carbon Offset,  Xavier Becerra,  California Carbon Offset,  California Cap-and-Trade,  


    Golden State Cap and Trade Cash Crashes (Ind. Report)
    California
    Date: 2020-06-08
    In May, California's dismal cap-and-trade auction is reported to have yielded only $25 million as part of process that typically brings in more than $600 million in proceeds for the Golden State's general coffers.

    Democratic Gov. Gavin Newsom reportedly anticipated $965 million annually in cap-and-trade funds for various climate change related programs including his processor Jerry Brown's High Speed Rail system project.

    Under the cap-and-trade system, the state imposes a declining limit on carbon-dioxide emissions. Refineries and other companies that produce such emissions can buy and sell allowances in a government-created auction. Some companies are reducing their emissions quickly and can then sell their excess allowances to other companies. The state pockets the proceeds. (Source: Press Enterprise, Various Media, June, 2020)

    More Low-Carbon Energy News Jerry Brown,  California Cap and Trade,  


    Va.Governor Inks Virginia Clean Economy Act (Reg. & Leg. Report)
    Governor Ralph Northam
    Date: 2020-04-13
    Following up on our 11th March coverage, in the Old Dominion State, the Office of Governor Ralph Northam (D) reports the Governor has signed the Virginia Clean Economy Act into law. The legislation covers energy efficiency promotions and puts a timeline standard stating that coal-fired plants are to close by 2024, and Dominion Energy and Appalachian Power will be 100 pct carbon-free by 2045 and 2050, respectively. Under the Act:
  • Energy companies will pay penalties for not meeting the Act’s objectives and the revenue from the penalties will go towards job training and programs in disadvantaged communities.;

  • There will be a reduction of energy burned for low-income users and all energy-efficient standards and pilot programs are to be “in the public interest.”

  • 5,200 megawatts of offshore wind generation to harvest energy for generating electricity is "in the public interest." Distributed generation facilities including solar power, will have 16,100 megawatts of solar and onshore wind generation as it is also considered "in the public interest."

  • Net metering will be used, which credits solar energy system owners for the electricity they add to the grid making it easier for the growth of rooftop solar power in the Commonwealth.

  • The state will establish a carbon cap-and-trade program to reduce emissions from power plants in compliance with the Regional Greenhouse Gas Initiative (RGGI). (Source: Office of Governor Ralph Northam, Website, WAVY.com. 12 April, 2020) Contact: Office of Governor Ralph Northam, 804-786-2211, www.governor.virginia.gov/constituent-services/communicating-with-the-governors-office, www.governor.virginia.gov; RGGI, www.rggi.org

    More Low-Carbon Energy News Renewable Energy,  RGGI,  Carbon Emissions,  Renewable Energy,  Energy Efficiency,  


  • OFB Opposes Ore. Carbon Exec. Order (Opinions, Editorials & Asides)
    Oregon,Cap-and-Trade
    Date: 2020-03-18
    In the Beaver State, the Oregon Farm Bureau (OFB) submitted the following comments on Democratic Gov. Kate Brown's executive order concerning state actions to aggressively lower greenhouse gas emissions: "Oregon Farm Bureau (OFB) is strongly opposed to the new carbon regulation outlined in the Governor Brown's sweeping executive order issued on Tuesday. The executive order is designed to implement caps on emissions from transportation fuels, natural gas, and large industrial sources, as well as ramp up the state's already ambitious Clean Fuels Program.

    "OFB has consistently engaged around carbon policy in our state for the past decade, and we have shared our concerns about the impacts of the cost increases associated with past proposals for the past several years. Instead of addressing those concerns, we believe the approach in the executive order will be even more detrimental to rural communities than any of the previous cap-and-trade proposals. The cost increases on communities associated with this proposal will be astronomical.

    "In addition, the governor has issued this executive order knowing that the rules adopted pursuant to it will face significant legal challenges. A similar effort in Washington state resulted in years of costly litigation, with limited results.

    "The executive order also hands over unprecedented levels of power to un-elected bureaucrats who will have the authority to regulate virtually every sector of our state's economy, including input costs on farms and ranches. As we read it, state agencies are directed to advance rules to drive up the cost everyday necessities for Oregon farmers, including gasoline and diesel and basic utilities like natural gas and propane.

    "New mandates directed at in-state food processors will add additional costs to being located in Oregon. This will certainly drive down Oregon's (carbon) footprint because these businesses will be incentivized to leave the state -- taking local jobs and tax revenue with them.

    "Oregon farmers and ranchers are already doing our part to sequester carbon and reduce our environmental footprint. This executive order will not make a meaningful difference in combating global climate change, will cost the state millions to defend in court, and will have an immediate and severe impact on Oregon's rural communities. We strongly urge Governor Brown to reconsider this approach." (Source: Oregon Farm Bureau On Line, St. Helens Chronicle, 14 Mar, 2020) Contact: Office of Gov. Kate Brown, (503) 378-4582, www.oregon.gov/gov/pages/contact.aspx[endlink; Oregon Farm Bureau, (503) 339-1701, [starrtlink]www.oregonfb.org

    More Low-Carbon Energy News Kate Brown,  Climate Change,  Cap-and-Trade,  


    S&P Dow Jones Indices Launches Carbon Emissions Single-Commodity Index (Ind. Report)
    S&P Dow Jones
    Date: 2020-03-16
    S&P Dow Jones Indices is reporting the launch of the S&P GSCI Carbon Emission Allowances (EUA) EUR. The new index provides investors with a reliable and publicly available investment performance benchmark for European Carbon Emission Allowances -- EU emissions trading system (EU ETS), a market-based cap-and-trade method developed to reduce global greenhouse gas emissions by companies. The S&P GSCI Carbon Emission Allowances (EUA) EUR index is based on the ICE EUA Futures Contract. (Source: S&P Dow Jones, STL News, Mar.,2020)

    More Low-Carbon Energy News S&P Dow Jones ,  UE ETS,  Carbon Emissions,  


    OR Gov. Issues Comprehensive Climate Change Order (Reg. & Leg.)
    Oregon Climate Change
    Date: 2020-03-11
    In Salem, Oregon Governor Kate Brown (Dem) has issued a 14-page issued an executive order aimed at to sharply curbing greenhouse gas emissions with a full-court press by government agencies. The order comes less than a week after a Republican walkout killed Oregon Senate Bill 1530, the Democrats' proposal for a cap-and-trade system in Oregon.

  • The Governor's Executive Order updates the state's carbon reduction goals, setting targets of a 45 pct reduction below 1990 levels by 2035, and an 80 pct reduction by 2050

  • Under the order, carbon polluters in the industrial, transportation and natural gas sectors would have their emissions capped by the state's Environmental Quality Commission and Department of Environmental Quality, with allowable emissions reduced over time.

  • The Department of Environmental Quality and Environmental Quality Commission are directed to ratchet up restrictions for how emissions intensive fuel can be. The order set a go pct below 2015 levels by 2030, and 25 pct by 2035;

  • The Oregon PUC will place emphasis on greenhouse gas emissions and wildfire risk when regulating Oregon power companies

  • The Department of Consumer and Business Services will set new building energy efficiency goals aimed at a 60 pct reduction in annual energy consumption, compared to 2006 building codes

  • The Department of Energy will update home appliance energy efficiency standards "at least to levels equivalent to the most stringent standards among West Coast jurisdictions."

  • The Department of Admin. Services will develop a plan to transition the state's automobile fleet to zero-emissions vehicles and add charging stations at public buildings.

    In total, 18 state agencies and commissions directing a large portion of the state's bureaucracy are tasked under the order aimed reducing emissions and addressing climate change. (Source: Office of Gov. Kate Brown, OPB, 10 Mar., 2020) Office of Gov. Kate Brown, (503) 378-4582, www.oregon.gov/gov/pages/contact.aspx

    More Low-Carbon Energy News Carbon Emission,  Oregon Climate Change,  Carbon Emissions,  Energy Efficiency,  Cap-and-Tarde,  


  • California-Quebec 2020 Carbon Auction Results In (Ind. Report)
    California-Quebec Cap-and-Trade
    Date: 2020-02-28
    The Western Climate Initiative (WCI) is reporting the results of February's joint California-Quebec auction.

    The auction raised roughly $600 million for the Greenhouse Gas Reduction Fund, which California will use for programs that further reduce climate and local air pollution and advance environmental equity.

    Quebec raised over $240 million (Cdn) ($185 million) to support climate action in the province.

    Western Climate Initiative Inc is a non-profit corporation formed to provide administrative and technical services to support the implementation of state and provincial greenhouse gas emissions trading programs. (Source: Western Climate Initiative, 26 Feb., 2020) Contact: Western Climate Initiative, www.wci-inc.org

    More Low-Carbon Energy News Western Climate Initiative,  Cap-and-Trade,  


    Newsom Touts Calif. Climate Change Budget Proposals (Ind Report)
    Climate Change
    Date: 2020-01-13
    On Friday in Sacramento, Golden State Gov. Gavin Newsom (D) introduced a $12.5 billion 5-year budget proposal with ambitious goals for addressing climate change.

    The budget proposal includes a Greenhouse Gas Reduction Fund, a $4.75 billion climate resilience bond that would to encourage investments that reduce risks from water, fire, extreme heat and sea level rise, as well as partially fund the recently introduced California Green New Deal Act.

    The climate budget also includes $66 million for reducing flood risks, $51 million to speed up the deployment of electric vehicle infrastructure and $103 million for water resiliency. The budget proposes a $4.75 billion climate resilience bond which would address risks especially in the state's most vulnerable communities. The bond would also allocate $500 million to harden infrastructure in high-fire-risk communities and $250 million for forest health projects -- that's in addition to fuel reduction activities paid for by the Greenhouse Gas Reduction Fund as well as the amount that the Legislature and governor have required utilities to contribute.

    Additionally, the budget proposes a $965 million plan to spend cap-and-trade dollars on Cal Fire's forest health and fuel reduction program and reducing emissions from transportation -- "the largest greenhouse gas emissions source in California."

    The budget includes $1 billion in general fund dollars -- $250 million this year and more in future years -- for a Climate Catalyst Fund that will offer low-interest loans for climate-related projects that help the state meet its climate goals. (Source: Office of California Gov. Gavin Newsom, Capital Public Radio, 10 Jan., 2020) Contact: Office of California Gov. Gavin Newsom , Kate Gordon, Director of the Governor's Office of Planning and Research, Snr. Climate Advisor, (916) 445-2841, (916) 558-3160 - fax., www.gov.ca.gov

    More Low-Carbon Energy News Climate Change,  


    Golden State Missing Emissions, Climate Change Goals (Ind. Report)
    California Green Innovation Index
    Date: 2019-12-16
    According to the California Green Innovation Index, the Golden State may miss its climate targets by more than 100 years -- despite the country's strictest vehicle fuel efficiency and emissions standards, broad climate change policies, and being the first state to adopt an economy-wide cap-and-trade program.

    In 2018, California legislated 100 pct of the state's electricity come from carbon-free sources by the end of 2045. Additionally, the state's emission standards dictate that greenhouse gas emissions be cut 40 pct below 1990 levels by 2030 and to 80 pct below 1990 levels by 2050. But considering that the state's climate pollution only declined by 1.15 pct in 2017, California would only hit its 2030 targets by 2061 and its 2050 targets by 2157, the Index notes.

    The California Green Innovation Index (CA GII) tracks the state's progress in reducing GHG emissions, generating technological and business innovation, and growing businesses and jobs that enable the transition to a more resource-efficient economy as California adopts innovative energy and emissions policies, according to its website. (Source: California Green Innovation Index, Epoch Times, 13 Dec., 2019) Contact: California Green Innovation Index, 650.235.8323, www.coecon.com/ca-gii.html

    More Low-Carbon Energy News California Green Innovation Index,  Carbon Emissions,  California Emissions,  Climate Change ,  


    Switzerland, EU to Link Emissions Trading Systems (Int'l. Report)
    EU ETS
    Date: 2019-11-18
    In Bern the Swiss Federal Council is reporting approval of revisions to the country's Reduction of CO2 Emissions ordinance with the European Union Emissions Trading Scheme (EU ETS). The amended Ordinance was approved on November 13 and will enter into force on January 1, 2020.

    The Swiss-EU agreement regulates the mutual recognition of emissions rights from the two ETS systems, each with its own legal basis. From January 2020, emissions from civil aviation and fossil fuel power stations will be included in the Swiss ETS, as is currently the case in the EU.

    The EU ETS operates in 31 countries -- the EU's member states, plus Iceland, Liechtenstein, and Norway. A single, EU-wide cap applies, and auctioning is the default method for allocating allowances. The Swiss ETS is also based on the cap-and-trade principle.(Source: Swiss Federal Council, SwissInfo, TaxNews.com, 15 Nov., 2019) Contact: Swiss Federal Council, www.admin.ch/gov/en/start/federal-council.html

    More Low-Carbon Energy News EU ETS,  Carbon Tax,  Carbon Emissions,  


    Trump's Emissions "Political Vendetta" Lambasted (Ind. Report)
    CARB
    Date: 2019-10-25
    In the Golden State, the US Justice Department (DOJ) is claiming the California Air Resources Board's (CARB) regional greenhouse gas cap-and-trade system is unlawful because it included the Canadian province of Quebec. The DOJ cited the constitutional prohibition on states making their own treaties or agreements with foreign governments.

    California Democratic Gov. Gavin Newsom didn't miss a beat when he responded from Sacramento saying the Trump DOJ move was a "political vendetta" and only one in a series of acts against a liberal state government that has brought more than 30 environmental lawsuits alone, most of them to stop the rollbacks of climate change regulations enacted under the Obama administration.

    "Carbon pollution knows no borders, and the Trump administration's abysmal record of denying climate change and propping up big polluters makes cross-border collaboration all the more necessary. This latest attack shows that the White House has its head in the sand when it comes to climate change and serves no purpose other than continued political retribution," Gov. Newsome noted. (Source, Office of Calif. Gov. Gavin Newsom, NY Times, Various Media, Oct, 2019) Contact: Office of Calif. Gov. Gavin Newsom, https://twitter.com/GavinNewsom, www.gov.ca.gov; California Air Resources Board, Melanie Turner, Information Officer, (916) 322-2990, melanie.turner@arb.ca.gov, www.arb.ca.gov

    More Low-Carbon Energy News Cap-and-Trade,  California Cap-and-Trade,  California Air Resources Board ,  


    RGGI Fine-Tunes Cap-and-Trade Program (Ind. Report)
    RGGI
    Date: 2019-10-16
    The Regional Greenhouse Gas Initiative (RGGI), the oldest U.S. cap-and-trade program for CO2 emissions, reports it plans to add new member states and to reduce the program's CO2 limit by 30 pct between 2021 and 2030, building on the 47 pct reduction achieved for their power plants since 2008.

    From 2021-2030, the RGGI states have agreed to reduce the program's CO2 limit by 30 percent, building on the 47 percent CO2 reduction the states have already achieved for their power plants since 2008. The states have also agreed to add a new mechanism, called an emissions containment reserve, to the market in 2021. The reserve is meant to speed CO2 reductions by removing allowances from RGGI's quarterly auctions if the clearing price falls below a predetermined threshold, which will start at US$6/st in 2021.

    Recently, many of the RGGI states have committed or recommitted to ambitious policies to address climate change, such as reducing economy-wide greenhouse gas emissions by 80 percent by 2050. Many of the same northeastern U.S. states are considering creating a separate cap-and-trade program for the transportation sector, the largest source of CO2 in the states and across the country. That program could work in tandem with RGGI to help the states use markets to drive emissions lower.

    RGGI member states include Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont. New Jersey will re-join next year while Virginia are expected to sign on in the near future.

    Download the RGGI proceeds investment report HERE. (Source: RGGI, Refinitiv, Argus, 14 Oct., 2019) Contact: RGGI, www.rggi.org

    More Low-Carbon Energy News RGGI,  Carbon Emissions,   Cap-and-Trade ,  


    Pennsylvania Joining RGGI Cap-and-Trade Program (Ind. Report)
    RGGI
    Date: 2019-10-04
    In Harisburg, Pennsylvania Gov. Tom Wolf (D) reports he is beginning the process to enter the commonwealth into the Regional Greenhouse Gas Initiative (RGGI), the "first mandatory market-based program in the United States to reduce greenhouse gas emissions."

    The move is in keeping with the Governor's goal of reduce greenhouse gas emissions by 26 pct by 2025. The state Department of Environmental Protection will be tasked with drafting the proposed regulation.

    The RGGI state include Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont. Four of those states are led by Republican governors. Pennsylvania reportedly emits nearly as much carbon as the nine RGGI states combined. (Source: Pennsylvania Capital Star, 3 Oct., 2019) Contact: RGGI, www.rggi.org

    More Low-Carbon Energy News RGGI,  GHG,  Greenhouse Gas,  Carbon Emissions,  


    Global Carbon Credits Index Launched in UK (Int'l Report)
    IHS Markit, Climate Finance Partners
    Date: 2019-09-27
    London, UK-headquartered information and analytics provider IHS Markit reports the launch of its Global Carbon Index, the first benchmark for the global price of carbon credits.

    The Index tracks the performance of the largest, most liquid and most accessible tradable carbon markets -- the European Union Emission Trading System (EU ETS), the California Cap-and-Trade Program, and the Regional Greenhouse Gas Initiative (RGGI). The index is calculated using OPIS data and carbon credit futures pricing in those markets.

    The IHS Markit Global Carbon Index was developed in consultation with Climate Finance Partners, a specialist in climate finance. IHS Markit is also well known for its daily OPIS Carbon Market Report, national carbon policies database and for developing industry standard methodologies for greenhouse gas accounting and disclosures. Its research and expertise on carbon policy impact, low-carbon and cleantech technologies and carbon risk management guide companies in energy, petrochemical, automotive, shipping, agriculture and other sectors critical to the global economy. (Source: IHS Markit , 25 Sept., 2019) Contact: IHS Markit, www.ihsmarkit.com

    More Low-Carbon Energy News RGGI,  EU ETS,  IHS Markit Carbon Market,  Carbon Credit,  


    Chinese Carbon Markets Trading Hits 337Mn Tonnes by June (Int'l)
    China Carbon Market
    Date: 2019-07-12
    In Beijing, China's Ministry of Ecology and Environment reporting China's carbon emissions allowances trading reached 337 million tonnes at the country's nine carbon markets with a turnover of 7.3 billion yuan ($1.06 billion) by the end of June.

    In June alone, the trading at nine carbon markets across the country were up 81.3 pct and 38.3 percent month on month, respectively, Xinhua said. (Source: China Ministry of Ecology and Environment, Xinhua, 11 July, 2019) Contact: China Ministry of Ecology and Environment, english.mee.gov.cn

    More Low-Carbon Energy News China Carbon Market,  China Cap-and-Trade,  


    Statement from a Coalition of Free-Market State Think Tanks on Trump Administration Affordable Clean Energy Rule (Opinions, Editorials & Asides)
    Affordable Clean Energy Plan
    Date: 2019-06-28
    Editor's Note: This publication, its editors and administration neither agrees or disagrees with the views presented in the following statement from the McIver Institute

    "The Trump administration's finalized Affordable Clean Energy (ACE) rule is a major victory for America's middle class, many of whom work in energy intensive industries like manufacturing and mining. It also represents a boon to America's least fortunate for whom energy costs represent a significant part of their budget. All Americans would have been harmed by the Obama administration's legally flawed Clean Power Plan. It would have dramatically increased the cost of electricity and was predicted to reduce global warming by only 0.018 degrees Celsius by 2100, an amount far too small to be measured.

    "After Congress rejected proposed cap-and-trade legislation, the Obama administration crafted the Clean Power Plan to force states into regional cap-and-trade plans. President Trump's plan disallows such plans for compliance and focuses, instead, on improving the efficiencies of individual plants.

    "The Clean Power Plan claimed to seek a 32 pct reduction in CO2 emissions from 2005 levels by 2030, at an estimated compliance cost of $9 billion. The US Chamber of Commerce estimated a more realistic $75 billion in compliance costs. The Rule was met with bipartisan opposition by 27 states who won a Supreme Court stay of the Rule in 2016.

    "The Clean Power Plan was also completely unnecessary. Thanks to the Trump administration's commonsense approach, emissions have fallen by 28 pct since 2017 and are forecast to be reduced 35 pct by 2030. At a compliance cost of $0.3 billion for the ACE rule, these gains were at 250 times less cost than the previous administration's alternative." -- The MacIver Institute

    The MacIver Institute is joined by the Caesar Rodney Institute, the Center of the American Experiment, the Commonwealth Foundation, the Independence Institute, John Locke Foundation, the Mackinac Center for Public Policy, the Mississippi Center for Public Policy, the Rhode Island Center for Freedom & Prosperity, the Rio Grande Foundation, and the Roughrider Policy Center in supporting the ACE. (Source: MacIver Institute, June, 2019) Contact: The John K. MacIver Institute for Public Policy Brett Healy, President 608.588.6477, bhealy@maciverinstitute.com, www.maciverinstitute.com

    More Low-Carbon Energy News Obama Clean Power Plan,  Trump,  Affordable Clean Energy,  


    NJ Sets Rules for Rejoining RGGI GHG Initiative (Reg. & Leg.)
    RGGI
    Date: 2019-06-19
    Following up on our 19 Dec., 2018 report, in the Garden State capital of Trenton, the New Jersey Department of Environmental Protection reports the adoption of rules for how the state will implement a cap-and-trade program to limit carbon dioxide emissions and for rejoining the Regional Greenhouse Gas Initiative (RGGI).

    The first rule sets a CO2 cap for the state's electricity generating sector at 18 million tons for 2020. The state's cap on carbon emissions will decline by 30 pct through 2030. According to the DEP, electricity generation produced 20.7 million tons of greenhouse gases in 2016.

    The second rule focuses on how the Department of Environmental Protection will spend proceeds from the sale of RGGI power plant carbon allowances on environmental justice projects. As of Jan., 2018, RGGI auctions raised $2.7 billion that is being used to fund clean-energy and energy efficiency programs.

    New Jersey was a founding member of RGGI, but Republican Gov. and former presidential hopeful Chris Christie pulled the Garden State from the agreement in 2012 on the grounds that it had "no discernible or measurable impact upon our environment." RGGI member states include Delaware, Connecticut, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont. (Source: New Jersey Department of Environmental Protection, NJTV News, 17 June, 2019) Contact: New Jersey Department of Environmental Protection, www.nj.gov/dep; RGGI, www.rggi.org

    More Low-Carbon Energy News Cap-and-Trade,  RGGI,  GHG,  Greenhouse Gas,  Carbon Emissions,  


    Tesoro Fined for Low Carbon Fuel Standard Violations (Ind Report)
    California Air Resources Board
    Date: 2019-06-07
    In Sacramento, the California Air Resources Board (CARB) is reporting a $1.36 million settlement with Tesoro Refining & Marketing LLC -- now Marathon Petroleum Corp. -- for misreporting 1.9 billion gallons of gasoline, diesel, biodiesel and ethanol, including under-reporting 403 million gallons of LCFS deficit-generating fuels, thus violating the Low Carbon Fuel Standard (LCFS).

    The LCFS requires that regulated fuel producers report the carbon generated in the production of transportation fuels sold in California. The inaccurate information spanned 24 quarterly reports.

    The LCFS, which encourages the use of cleaner, low-carbon fuels, is one of several programs developed under The Global Warming Solutions Act (A.B.32). It works with other A.B.32 programs, such as cap-and-trade, the zero-emission vehicle program and the renewable portfolio standard, to achieve California's GHG-reduction goals. (Source: CARB, 31 May, 2019) Contact: California Air Resources Board, Melanie Turner, Information Officer, (916) 322-2990, melanie.turner@arb.ca.gov, www.arb.ca.gov

    More Low-Carbon Energy News California Air Resources Board ,  Low Carbon Fuel Standard,  


    India Launches Emissions Cap-and-Trade System (Int'l. Report)
    Cap-and-Trade
    Date: 2019-06-07
    In New Delhi, the Indian government of Prime Minister Narendra Modi is reporting the launch of a pilot, market-based air polltion and emissions cap-and-trade programme in Gujarat, State. The programme is being initiated in Surat, a heavily populated industrial centre with significant emissions and air pollution.

    The emissions trading programme incorporates continuous emissions monitoring systems to track industry emissions in real time. About 350 Surat area industries have installed continuous emissions monitoring systems, the data from which will be used to implement and carry out industrial pollution audits and set incentives to encourage compliance.

    The Gujarat programme is the first in the world to regulate particulate air pollution, the single-largest threat to human health globally according to the Air Quality Life Index (AQLI). (Source: Gujarat Pollution Control Board, livemint, 6 June, 2019) Contact: Gujarat Pollution Control Board, gpcb.gujarat.gov.in

    More Low-Carbon Energy News Cap-and-Trade,  Carbon Emissions,  

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