Monthly Archives: August 2019

California-Quebec August auction clears after emissions below 2020 target for second year running

Wind farm in San Gorgonio Pass, California.

Wind farm in San Gorgonio Pass, California. Photo: Pxhere.com

This post was co-authored by Katelyn Roedner Sutter

Results of the August 2019 California-Quebec carbon allowance auction were released today, and demonstrate that a strong and steady market is the status quo. These results come just weeks after the Newsom administration’s announcement that in 2017 the state’s total emissions were below the 2020 target for the second year in a row.

Today’s results in brief:

  • All 66,289,515 current allowances sold, clearing at $17.16, $1.54 above the floor price of $15.62. This is $0.29 below the May 2019 clearing price of $17.45. As in the last auction, no previously unsold allowances were offered from California.
  • All of the 9,038,000 future vintage allowances offered also sold at $16.85, $1.23 above the $15.62 floor price. These allowances are not available for use until 2022, demonstrating strong confidence in future market performance.
  • The auction raised approximately $ 729 million USD for the Greenhouse Gas Reduction Fund, which allows California to invest in programs to improve local air quality and reduce emissions from buildings, agriculture and transportation.
  • Quebec raised over approximately $ 248.75 million CAD (approximately $ 187 million USD), which funds local climate investments in the province.

These results demonstrate a couple of notable trends:  Read More »

Posted in California, Carbon Markets, Cities and states, Greenhouse Gas Emissions / Read 2 Responses

By the numbers: Colorado Zero Emission Vehicle Program will cut climate pollution and save Coloradans money

(This post was written by EDF  Attorney Laura Shields) 

The numbers are in for Colorado’s proposed Zero Emission Vehicle (ZEV) program – it will cut climate pollution and save Coloradans millions of dollars.

This week, the Colorado Air Quality Control Commission is formally considering adoption of the ZEV program for model year 2023 through 2025 vehicles. (Colorado already adopted state Low Emission Vehicle standards last year).

What’s at stake for Coloradans?

This important clean air program means that, while no Coloradan has any obligation to buy or choose a zero-polluting vehicle, ALL Coloradans will have more models of zero-emitting vehicles to choose from if they want a cleaner car.

These clean vehicles will save Coloradans hard-earned money at the gas pump and will reduce dangerous climate pollution. They will also help reduce smog-forming pollution in all communities across Colorado, clean up Denver’s brown cloud, and lift the veil of haze pollution in our world-class national parks and wilderness areas.

In short, Colorado’s proposed ZEV program will mean healthier air, fuel cost savings, more vehicle choice and a safer climate for all Coloradans.

Read More »

Posted in Cars and Pollution, Cities and states, Economics, Greenhouse Gas Emissions, News, Partners for Change, Policy / Read 2 Responses

Climate Changed: Millions of Americans Already Living Beyond Temperature Goal

(This post was co-authored by Nat Keohane and David Festa

Earth as seen from a NOAA weather satellite. Photo: NASA

The hotter future that climate pollution is creating has already arrived for 1 in 10 Americans. A new analysis from The Washington Post shows that 34 million Americans live in areas that have now seen average temperatures rise farther than the goal set by the Paris climate agreement — 2 degrees centigrade or about 3.6 degrees Fahrenheit.

Even as the Trump administration attempts to dismantle policies to reduce climate pollution, average temperatures have shot up in parts of North Dakota, Montana, Utah, in the Northeast and Southwest, and elsewhere. These increases – which are not summer spikes, but year-round averages – are part of the trend that is worsening wildfires, making more damaging storms, and creating serious problems for farmers.

The Post‘s Steven Mufson, Chris Mooney, Juliet Eilperin, and John Muyskens surveyed more than 100 years of weather data about the continental United States from the National Oceanic and Atmospheric Administration, NASA and other scientific sources. Their work provides a bold-face headline to the peer-reviewed science that shows the dangerous speed at which our world is warming. It comes on the heels of last week’s United Nations report on land use and climate change, which warned of increasing water scarcity and food shortages from continued warming.

If there is good news in these disturbing reports, it is that the tangible reality of climate change may be spurring action to reduce emissions and begin the long overdue process of building resilience. Despite the Trump administration’s surrender on the issue, many states are newly aggressive. New Jersey, one of the states that the Washington Post reports is getting hottest fastest, just enacted a series of climate pollution reduction policies. Minnesota, California, and Maine – all states with areas of 2-degree increase – have recently put in place ambitious climate action policies. Colorado, another state with hotspots, just enacted landmark legislation that sets some of the strongest targets in the country for reducing climate pollution.

We can’t solve the climate crisis without leadership from the federal government, but there are paths forward to a better outcome. Failing to act because we hear bad news will only make the problem tougher. If we can generate the political will, we can make our future dramatically safer by moving to a 100% clean economy.

Read More »

Posted in Basic Science of Global Warming, Cities and states, Extreme Weather, News, Policy, Science / Comments are closed

California releases updated Tropical Forest Standard: Here are the highlights and why CARB should endorse it

The California Air Resources Board (CARB) this week released an updated version of the proposed Tropical Forest Standard (TFS) for consideration at its September 19 Board meeting. CARB made some important changes to the TFS in response to feedback from members of the California Assembly, indigenous leaders, environmental groups, environmental justice advocates, and subject-matter experts.

Endorsement of the TFS would value tropical forests for the extensive climate benefits they provide. It would also be a major step forward for tropical forests and the communities who live in and defend them. And these proposed changes would make the TFS even stronger in the fight against tropical deforestation.

In general, the changes CARB has made – responding to public and policymaker feedback – add detail and clarity that strengthen the accountability built into the TFS. The more specificity, the easier it is to ensure the standard is upheld and ultimately helps deliver the emission reductions from stopping tropical deforestation that the climate so desperately needs.

Here are the key changes to the proposal. (A Tropical Forest Standard refresher may be helpful before diving in.)

Read More »

Posted in California, Carbon Markets, Forest protection, Indigenous People / Read 1 Response