Climate 411

Navigating Jurisdictional REDD+: A Pricing Guide for Tropical Forest Nations

The challenge is clear: if tropical deforestation were a country, it would rank fourth, only behind China, the US, and India in emissions. However, the solution is even clearer: these same forests can provide 23% of the cost-effective climate mitigation needed before 2030, if the right economic incentives are in place.[1]

Despite numerous pledges, forest loss shows little sign of abating. The cost of protecting all forests at high-risk of deforestation by 2030 requires $130 billion in annual funding while existing financing is only $2-3 billion.[2] Bridging this gap will require public, private, and philanthropic funding on a scale and at a speed we have never seen before.

Read More »

Posted in Carbon Markets, Forest protection / Tagged | Authors: , / Comments are closed

Why it’s time to explore the potential impacts of Solar Radiation Modification

Photo: Pezibear

The impacts from climate change will continue to escalate in the years ahead, and a growing number of scientists, philanthropies and companies have become interested in strategies to lower global temperatures more quickly. One of the options is reflecting some sunlight back into space.  

Because the consequences of Solar Radiation Modification (SRM), as it’s called, are hard to project, further study is critical before any action is seriously considered.  

While driving the transition to clean energy sources and rapidly reducing climate pollution remain EDF’s major foci, we also need to understand the implications of trying to directly influence earth’s temperature through this technology. That’s why EDF is embarking on an ambitious research program to learn more about SRM and its potential impacts. It is critical that decision makers and the public have a better understanding of the potential implications of deploying SRM before it is seriously considered.  

This work does not mean EDF supports deployment of SRM or other geoengineering strategies. However, these ideas may be increasingly considered in the next few decades, so it’s essential we understand the potential impacts. We need solid scientific information that’s accessible to decision makers in all countries to form the basis of future decisions about the use of this technology. 

Read More »

Posted in Geoengineering, News, Science / Comments are closed

North Carolina Carbon Plan: Duke’s hydrogen plan is a mirage, but there are proven clean technologies available now to meet customer need

On June 17, the Environmental Defense Fund (EDF) was represented by our expert witnesses at a technical conference before the NC Utilities Commission (NCUC). Each of the intervenors in the Carbon Plan/Integrated Resource Plan docket, including EDF, were given a few minutes to briefly summarize testimony filed in May. EDF’s testimony centered around the need for Duke Energy to more aggressively leverage North Carolina’s offshore wind potential — the subject of this recent blog — and the fallacy of Duke’s hydrogen plans.

Read More »

Posted in News / Comments are closed

Lessons learned: New climate and biodiversity funds don’t need to start from scratch

By Juan Pablo Hoffmaister, Associate Vice President, Global Climate Cooperation, and Zach Cohen, Senior Analyst, Global Climate Cooperation 

As we face the triple planetary crisis of climate change, air pollution, and biodiversity loss, the need for urgent and united action is undeniable. Addressing these linked challenges demands more than just ambition—it requires collaboration, guided by the principle of complementarity. This approach emphasizes working together in harmony to achieve greater effectiveness and sustainability in our efforts to protect the planet.  Read More »

Posted in Climate Finance / Comments are closed

North Carolina Carbon Plan: Why Duke’s gas bet is a risk to ratepayers and how offshore wind can carry the load

On May 28, the Environmental Defense Fund, along with several other parties, filed expert testimony with the North Carolina Utilities Commission (NCUC) in North Carolina’s Carbon Plan proceeding. The outcome of these regulatory proceedings, which include hearings over the summer and a Commission order by end of year, will shape over $100 billion in long-term investments proposed by Duke Energy, and ultimately largely paid for by North Carolina electricity customers. This is a huge decision point for the state’s energy future, as I described in a recent op-ed published by NC Newsline.

Read More »

Posted in Cities and states, Economics, Energy, Greenhouse Gas Emissions, Policy / Comments are closed

Despite threat of repeal, Washington state’s carbon market continues to raise urgently-needed revenue for communities in The Evergreen State

Photo of Mount Rainer

Results were released today for Washington’s second quarterly auction of 2024, administered last Wednesday by the Department of Ecology (Ecology). During the auction, participating entities submitted their bids for allowances. Under the Climate Commitment Act, Washington’s major emitters are required to hold one allowance for every ton of greenhouse gas that they emit, with the total number of allowances available declining each year. This requires polluters in Washington to reduce their emissions in line with the state’s climate targets. By distributing allowances via auction, the state can both regulate emissions and raise important revenue to invest in frontline communities, accelerate clean job creation, and more.

Here are the results, released today:

Read More »

Posted in Carbon Markets, Cities and states, Greenhouse Gas Emissions, News, Policy / Comments are closed