Nat Keohane and I have been participating in the "Carbon Tax vs. Cap-and-Trade" debate over on Bulletin of the Atomic Scientists. From Round 3, which addresses the international aspects:

A cap-and-trade system allows for the creation of a global carbon market. Such a market would provide the mechanisms and flexibility necessary to achieve the environmental goals at the lowest cost and the incentives for other countries to join. A tax does neither, while requiring much more harmonization across countries.

This post is by Gernot Wagner, Ph.D., an economist in the Climate and Air program at Environmental Defense Fund.

A call for change — no, not by Barack Obama, by Al Gore.

Gore co-authored a call for Sustainable Capitalism in today's Wall Street Journal:

At this moment, we are faced with the convergence of three interrelated crises: economic recession, energy insecurity and the overarching climate crisis. Solving any one of these challenges requires addressing all three.

The op-ed concludes that:

Today, the sustainability challenges the planet faces are extraordinary and completely unprecedented. Business and the capital markets are best positioned to address these issues.

...as long as the incentives are correct:

We...need to internalize externalities — starting with a price on carbon. The longer we delay the internalization of this obviously material cost, the greater risk the economy faces from investing in high carbon content, "sub-prime" assets. Such investments ignore the reality of the climate crisis and its consequences for business.

This post is by Gernot Wagner, Ph.D., an economist in the Climate and Air program at Environmental Defense Fund, and originally appeared on the Environmental Economics blog.

What has the federal government done over the last eight years to stop global warming? Sadly, not much, despite numerous, dire warnings. Our new interactive timeline gives an at-a-glance overview of the scientific reports, lost policy opportunities, and environmental impacts over the last eight years. Click the forward and backward arrows to move through time, and click on a color-coded event box to learn more about it.

Besides giving a succinct summary of the last eight years, the timeline is fun to click around - lots of interesting information all in one place. And it makes it very clear what we need to do when the new administration comes in. There's no time to waste.

This post is by Sheryl Canter, an online writer and editorial manager at Environmental Defense Fund.

The Regional Greenhouse Gas Initiative (RGGI) is an agreement among 10 Northeastern and Mid-Atlantic states to reduce global warming pollution from power plants by means of a cap-and-trade system. In cap-and-trade, global warming pollution is limited to an agreed-upon cap that declines over time. The governing authority issues "permits" - also called "allowances" - corresponding to the cap, with one allowance equal to a ton of CO₂ or its equivalent in greenhouse gases. Companies must have allowances for any global warming pollution they emit.

The RGGI auction of allowances is today, and was opened by New York Governor David Paterson. The Washington Post said in an editorial, "We hope that it serves as a reminder to Washington of what can be accomplished when vision and leadership are exercised." We agree! From EDF president Fred Krupp:

The launch of America's first carbon market is proof positive that the U.S. can and will take bold steps to combat climate change.

This post is by Sheryl Canter, an online writer and editorial manager at Environmental Defense Fund.

Old-growth forests hold vast amounts of carbon from centuries of growth, and this carbon would be released into the atmosphere if the trees were cut down. That much has been known for a long time, which is why Environmental Defense Fund so strongly advocates a plan to reduce deforestation in developing countries.

But new research shows that old-growth forests are even more important than previously thought. According to a new study in Nature, old-growth forests aren’t just standing there maintaining the status quo. They still actively take up CO₂ from the atmosphere.

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Another UN climate negotiating session has come and gone, the banners and tents swiftly dismantled, the delegates again scattered to the world's four corners. Most leave with a sense of progress - incremental, to be sure, but the meetings are slowly transforming into real negotiations. When the United States' new team hits the ground in January, the pace of negotiations will grow furious as we count down to the Copenhagen talks in December.

Here are the highlights from a week packed with negotiations, side events and planning sessions.

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Even if every industrialized country were to reduce its emissions to zero by 2050, atmospheric carbon levels would still be above what scientists tell us is dangerous.

That's a pretty powerful statement, and it leads to the question: How do we convince developing countries to set limits on their emissions? A possible answer to that challenge brought me to Ghana this week.

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This post is by Gustavo Silva-Chávez, an international policy analyst in the Climate and Air program at Environmental Defense Fund.

Early this week, the team from Environmental Defense Fund started boarding planes for Accra, Ghana to attend the international Climate Change Talks. The official first day was Thursday, but Wednesday was busy with pre-meeting workshops.

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This post is by Gustavo Silva-Chávez, an international policy analyst in the Climate and Air program at Environmental Defense Fund.

Last December, a team from Environmental Defense Fund attended climate change negotiations in Bali - an annual meeting of some 190 countries. Next week, we're headed to Accra, Ghana for another round of talks. These meetings, along with other talks this year and next, are part of an international negotiation process that will conclude in Copenhagen in late 2009.

The goal is to put the world on a path to avoid dangerous climate change. As part of this effort, EDF is working to encourage full participation of the United States, all other developed countries, and all major developing countries. The findings, recommendations and negotiated text coming out of these interim meetings will form the basic structure of the Copenhagen deal.

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This post is by Sheryl Canter, an online writer and editorial manager at Environmental Defense Fund.

Environmental Defense Fund can't comment on the candidates in this year's historic election because of our tax status as a 501c3 charitable organization. But it's okay for us to provide interesting sources of information, and here's one: a site that tracks which lawmakers receive money from the coal industry.

It's very detailed and very interesting, with multiple ways to browse or search. Take a look!