Monthly Archives: February 2019

California-Quebec market continues to thrive

California cap and trade, renewable energy

Alta Wind Energy Center, California, Photo source: Steve Boland/flickr

February’s joint California-Quebec cap-and-trade auction demonstrated again that the market is strong. Despite uncertainty over PG&E’s position in the aftermath of its bankruptcy filing last month, all current and two-thirds of future allowances sold.

February’s auction by the numbers:

  • All 80,847,404 current allowances sold, including previously unsold allowances and consigned allowances from utilities like PG&E. This sale cleared at $15.73, 11 cents above the floor price of $15.62.
  • 5,983,000 of the 9,038,000 future vintage allowances offered also sold at the floor price. These allowances are not available for use until 2022. This is the first auction since the floor price increased to $15.62, so businesses have three more auctions at this price floor to purchase allowances that cannot be used for three more years.
  • Approximately $853,508,096 was raised for the Greenhouse Gas Reduction Fund which the state uses to support climate investments in frontline communities, improvements in local air quality, and other projects to further reduce greenhouse gas emissions.

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Posted in California, Carbon Markets / Read 1 Response

Trump administration ends talks with California, presses ahead with Clean Car Standards rollback

EDF attorney Erin Murphy co-authored this post 

The Trump administration announced today that it will end negotiations with California and press ahead with its attempts to roll back America’s successful Clean Car Standards.

Rolling back the Clean Car Standards would increase pollution and raise costs for American families. The administration’s justification for weakening these safeguards is based on a deeply flawed and biased analysis that contradicts the technical progress the auto industry is making to reduce pollution. An earlier expose highlighted the roll of the oil industry in pushing and benefiting from the administration’s rollback.

State leadership under attack

The administration says it is pressing ahead with its attacks on long-standing state authority to enforce tougher standards than those implemented at the federal level.  Read More »

Posted in California, Cars and Pollution, Clean Air Act, EPA litgation, Jobs, News, Partners for Change, Policy / Read 1 Response

Clean Power Plan “Replacement” Will Increase Carbon Pollution in Many States – New Study

A new study is now confirming what our earlier analysis found – the Trump Administration’s proposed replacement for the Clean Power Plan would actually be worse than doing nothing in many states.

The Clean Power Plan sets America’s only nationwide limits on carbon pollution from power plants. Trump’s Environmental Protection Agency has formally released a cynical proposal to scrap the plan and “replace” it with a do-nothing framework that sets no binding limits on carbon pollution at all. The agency recently finished taking public comments on that dangerous proposal – appropriately enough, on Halloween.

EDF undertook an analysis last year that concluded the Trump administration’s sham proposal would be a step down from doing nothing in many states. Now the new study by researchers at Resources for the Future and Harvard, Boston, and Syracuse Universities confirms that conclusion. Read More »

Posted in Clean Power Plan, Greenhouse Gas Emissions, News, Policy / Comments are closed

Hearings in the House of Representatives put climate change back in the spotlight

A day after President Trump did not even utter the words “climate change” in his State of the Union Address, two separate House committees brought climate change back to the legislative forefront for the first time in years. And after such a long hiatus, it was encouraging to see that a clear theme emerged from both hearings– climate change is an urgent threat, but we can address it if we attack it head on.

Here are some things that stood out to us – the good and the bad – from the first Congressional hearings on climate change in far too long:

Highlights

Hearings brought a long overdue spotlight to this critical issue

Leadership from both the Energy and Commerce Subcommittee on the Environment and Climate Change and the full Natural Resources Committee recognized that while the threat of climate change is urgent, there is still time to act. Rep. Paul Tonko, Chairman of the Subcommittee on Environment and Climate Change of the Committee on Energy and Commerce, invoked NASA’s moon missions as proof positive that America can rise to great technological challenges. “This climate challenge is not beyond us,” Tonko said. “Time is running out but it is not gone.”

Speakers recognized that acting now is less expensive than ignoring the problem Read More »

Posted in News / Read 1 Response

Will governments disappoint again on carbon accounting at upcoming aviation meetings?

https://www.pexels.com/photo/silhouette-of-airplane-during-sunset-99567/

Silhouette of Airplane during Sunset. Pexels.com

Some major companies, including airlines, took the lead last December in Katowice, Poland in rejecting the use of dubious carbon credits toward their climate efforts. Despite this drumbeat against bad rules for cooperative approaches under Article 6 of the Paris agreement, experienced government negotiators fell short and did not finalize these guidelines in Katowice. This month in Montreal, governments could decide the fate of carbon credits for the Carbon Offsetting and Reduction System for International Aviation (CORSIA), but will they ignore business demand for good credits by allowing aviation emissions reductions to be double counted?

Let’s look behind the negotiating curtain and unpack how companies got involved, why governments should pay attention to companies’ push for environmental integrity and what governments can do in Montreal to maintain the integrity of CORSIA.

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Posted in Aviation, Carbon Markets, International, Paris Agreement, United Nations / Read 1 Response