Selected category: Cap and trade

The Winning Equation on Climate and Jobs in California

Derek Walker.jpgAs the old saying goes, comparisons are odious, and when it comes to policies to combat climate change, we want every state in this country—and every country in the world—to take action. But sometimes a comparison between two states can help illuminate the benefits of taking one course of action over another, especially as it relates to the all-important issue of creating a strong economy.

Recently, the U.S. Bureau of Labor Statistics released revised job growth numbers for all states. Previously, the numbers released in December 2014 showed Texas ahead of California on job growth for the year—458,000 to 320,000—but the revised estimates indicate that California added 498,000 jobs in 2014, with Texas coming in at 393,000. In other words, California added almost half a million jobs in 2014, showing that Texas is not the only state that can do things on a big scale.

So what do these job growth numbers have to do with the fight against climate change? California is seeing their job numbers tick up as the state takes the lead on tackling harmful greenhouse gas emissions through an astonishingly ambitious array of policies. The state’s policies cover everything from squeezing as much carbon from the state’s economy as possible to ensuring that we find clean energy solutions to keep the lights on, so to speak. Although environmental leadership seems to be an integral part of the state’s DNA, the game really changed with California’s 2006 law limiting emissions to 1990 levels by 2020. The state’s law ushered in a succession of effective measures, including the state’s cap-and-trade program and Low Carbon Fuel Standard, which are cutting pollution and helping the economy. Read More »

Also posted in Clean Energy, Climate, Energy, General, Global Warming Solutions Act: AB 32, Jobs, Low Carbon Fuel Standard| Leave a comment

Qué significa topes y comercio de emisiones para los hispanohablantes en California

rp_DSC_0012-Version-3-200x300111.jpgEl 15 de enero, el Fondo de Defensa Ambiental (EDF por sus siglas en inglés) publicó el segundo informe en una serie que explora cómo una de las políticas climáticas y de energía limpia de California – nuestro programa de topes y comercio de emisiones – está funcionando. Hoy, el EDF proporciona esta información en español – puede encontrar el Resumen de los expertos y nuestro comunicado de prensa. El informe ha generado gran interés, dada la creciente urgencia del problema y el aumento en el número de estados y regiones interesadas en iniciar políticas climáticas más enérgicas. ¿Qué queremos decir con que el programa de topes y comercio está “funcionando” y qué significa esto para los latinos en nuestro estado?

Así es cómo el EDF analizó si el programa está funcionando. Para empezar, el informe examina la información del objetivo crítico de reducir emisiones de gases de efecto invernadero dañinas. Estas son las emisiones que conducen al cambio climático, contaminan nuestro aire y empeoran los patrones de clima extremos. Pero también hay otros objetivos importantes. Uno es permitir que el estado mantenga un crecimiento económico sólido mientras se implementa un sistema de políticas que frene el cambio climático al limitar la contaminación del carbono. ¿Y cómo asegurar que el programa de topes y comercio de emisiones beneficie a todas las comunidades, incluso aquellas que ya sufren de los peores efectos del cambio climático?

Hay buenas noticias en todos los frentes. El informe concluye que después de dos años de funcionamiento, las emisiones limitadas por el programa están bajando. Al mismo tiempo, el progreso económico del estado también sigue marcha adelante, especialmente cuando se trata del crecimiento de empleos verdes. Read More »

Also posted in Climate, Engaging Latinos, General, Global Warming Solutions Act: AB 32| Comments are closed

What Cap and Trade Means for Latinos in the Golden State

rp_DSC_0012-Version-3-200x300111.jpgOn January 15, Environmental Defense Fund released the second report in a series that explores how one of California’s signature climate and clean energy policies – our cap-and-trade program – is working. Today, EDF is making this information available in Spanish – you can find the Executive Summary here along with our press release. The report has generated a large amount of interest, given the increased urgency of the issue, and the growing number of states and regions looking at initiating more robust climate policies. So, what do we mean when we say the cap-and-trade program is “working,” and what does this mean for Latinos in the Golden State?

Here’s how EDF looked at whether the program is working. For starters, the report examines the data on the critical goal of reducing harmful greenhouse gas emissions. These are the emissions that drive climate change, pollute our air, and exacerbate extreme weather patterns. But there are other important goals in the mix, too. One is allowing the state to maintain healthy economic growth while implementing a system of policies that curbs climate change by limiting carbon pollution. And what about making sure the cap-and-trade program benefits all communities, including those already suffering the worst effects of climate change?

Good news on all fronts. The report concludes that after two years of operation, emissions capped by the program are going down. At the same time, the state’s economic progress continues to march forward, especially when it comes to the growth of green jobs. Read More »

Also posted in Auction revenue, Climate, Engaging Latinos, General, Global Warming Solutions Act: AB 32| Comments are closed

California’s Carbon Market Remains Strong through Growth Spurt

rp_KHK-picture-200x300.jpgGrowing up can be tough. But we all remember how good it felt to pass an important exam or achieve one of our major goals – whether it be getting a driver’s license or graduating from middle school. California’s landmark cap-and-trade program was just recently put to the test after undergoing a substantial growth spurt, more than doubling in size to include transportation fuels, California’s biggest source of greenhouse gas pollution. To account for this increase in the number of businesses and emissions capped by the program, more than three times the amount of allowances were offered in the cap-and-trade auction held last week as compared to the one before it. This was also the second auction since California began holding joint auctions with Quebec, the Canadian province that has a similar cap-and-trade program in place.

Auction results released earlier today indicate that the strong foundation built over the first two years of the program allowed the market to easily pass this important growth test, remaining stable and strong even in the face of a considerable change in allowance supply and shifting market dynamics.

So what happened in this auction?

Of the 73.6 million current vintage allowances offered in this auction, 100% were purchased at a price of $12.21. This is 11 cents above the floor price and the settlement price at the previous auction, and is consistent with historical trends of prices slightly above the floor. In the advanced auction for 2018 vintage allowances, over 10.4 million allowances were offered and 100% of these were purchased at the floor price of $12.10. These allowances can only be used starting in 2018 and the fact that there was a high level of demand for them once again reflects confidence in the future strength of the market. These companies are making financial investments that are consistent with the belief that the market will be in existence well into the future, as was strongly signaled through the Governor’s and the Legislature’s prioritization of long-term emission reductions. Read More »

Also posted in Cap-and-trade auction results, Climate, General, Global Warming Solutions Act: AB 32| Comments are closed

New Study: California's Carbon Market Delivers for Economy and Climate

caliwind_378x235Would you believe there's a state that cut pollution and cleaned up its air, while creating jobs and sustaining economic growth?

And where economic incentives, rather than costly regulations, are stimulating innovation and investment?

California passed the earliest, most comprehensive law to set a cap on carbon pollution, along with numerous other complementary policies to help the state transition to a low-carbon, clean-energy economy.

The results are now coming in and the present – and future – looks bright.

Two years after it was fully implemented, California's cap-and-trade program is thriving, a new report [PDF] from Environmental Defense Fund shows.

The program is now ramping up as the state economy is growing, paving the way for California to pass even stronger climate policies. Perhaps most important, it's laying the groundwork for other states and nations to move forward with similar steps.

The four top findings from our report: Read More »

Also posted in Climate, General, Global Warming Solutions Act: AB 32| Comments are closed

California’s Cap and Trade is Succeeding after Two Years, Report Says

rp_KHK-picture-200x300.jpgThese days, everyone seems to have an opinion about everything. The ubiquity of social media channels has saturated public discourse with so many viewpoints that it can be nearly impossible to distinguish facts from fiction. But facts still matter. Even though an argument about the quality of a neighborhood restaurant or the accomplishments of your local elected official might be inherently subjective, there’s no question that strong, empirical evidence gives you the best shot at coming out on top. What’s more, the greater the consequences of the issue being debated, the higher the stakes are when it comes to analyzing and acting on real-world evidence.

On one particularly timely and potentially far-reaching issue—solutions to climate change—evidence is mounting and becoming impossible to ignore: cap and trade is not just an idea you learn in an economics lecture, it is a policy solution being deployed successfully in California, the world’s eighth largest economy. According to EDF’s comprehensive analysis released today, California’s cap-and-trade program is working after two full years of implementation. Not only is the program incentivizing energy efficiency improvements, it is paving the way for the state to pass even stronger climate policies, and is helping other states and nations move forward with similar steps. Here are some of the top conclusions EDF puts forward in the report, based on our analysis of the evidence:
Read More »

Also posted in Climate, General, Global Warming Solutions Act: AB 32| Comments are closed
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