Climate 411

The scoop on the Scoping Plan: California’s plan falls short in ensuring equitable access to an affordable, clean and safe energy system (Part 2)

In May, the California Air Resources Board released the draft 2022 Climate Change Scoping Plan, a roadmap that will guide the state toward meeting its 2030 emissions target and achieving net-zero emissions no later than 2045. This four-part series will unpack several key aspects of the plan and evaluate whether they raise California’s climate ambition to the levels needed to protect communities from the worst climate impacts.

The draft Scoping Plan released by CARB last month attempts to address important climate issues across many sectors in California, including equitable access to an affordable, clean, and safe energy system. As the plan appropriately notes, “a clean, affordable, and reliable electricity grid will serve as a backbone to support deep decarbonization across California’s economy.”

Unfortunately, the recommended actions for the electricity sector are insufficient. CARB needs to increase its ambition in order to fulfill the promise of an affordable, clean and reliable energy system. This includes clearly setting a goal of 0MMT or zero emissions from electricity generation no later than 2045 with direction for planning agencies to establish interim targets and front-loaded actions to measure that progress.

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Also posted in Greenhouse Gas Emissions / Read 1 Response

May brings another record auction for the Western Climate Initiative, as California considers how to ramp up climate action

Results of the May Western Climate Initiative auction were released today, and again they demonstrate strong demand for allowances and generate revenue that will deliver meaningful investments for California communities. Earlier this month, the California Air Resources Board (CARB) also outlined the role of its cap-and-trade program in its draft Scoping Plan, which intends to chart the path to California’s 2030 and 2045 climate targets. However, there is major room for improvement: CARB needs to do more to ensure the emissions cap is an effective backstop and can provide certainty of near-term emission reductions.

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Also posted in Carbon Markets, Greenhouse Gas Emissions / Comments are closed

The scoop on the Scoping Plan: California’s draft plan misses the opportunity for greater climate ambition (Part 1)

This post was co-authored by Katelyn Roedner Sutter, Senior Manager for U.S. Climate at EDF.

solar array in California

Photo Credit: Tom Brewster photography for the Bureau of Land Management.

In May, the California Air Resources Board released the draft 2022 Climate Change Scoping Plan, a roadmap that will guide the state toward meeting its 2030 emissions target and achieving net-zero emissions no later than 2045. This four-part series will unpack several key aspects of the plan and evaluate whether they raise California’s climate ambition to the levels needed to protect communities from the worst climate impacts.

California has long been known as a global climate leader, but that title has to be constantly re-earned as the climate crisis accelerates and new leaders raise the bar. The state’s Scoping Plan, which is updated every five years, presents a major opportunity to re-evaluate its strategies to drive down climate pollution based on the latest science, policy and technological developments.

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Also posted in Carbon Markets, Cities and states / Read 1 Response

Western Climate Initiative kicks off 2022 with strong results – and high hopes for greater ambition

This was was co-authored with Caroline Jones, Analyst for U.S. Climate.

Wind farm in California.

PC: Tom Brewster Photography for the Bureau of Land Management.

The results of the Western Climate Initiative’s February auction were released today, and all current vintage allowances sold at a record-high price – raising over $970 million for the Greenhouse Gas Reduction Fund.

These results arrive alongside major opportunities for California to bolster its climate leadership. The state’s Climate Change Scoping Plan update, which intends to chart a pathway to achieving California’s 2030 and 2045 greenhouse gas reduction goals, is well underway with preliminary modeling results expected this spring. And recently, a group of experts released a report highlighting ways California can strengthen its cap-and-trade program and make the most of its Scoping plan.

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Also posted in Carbon Markets / Comments are closed

Western Climate Initiative ends the year on a high note with record prices

Wind farm in Mojave Desert.

Wind farm in the Mojave Desert. PC: Tom Brewster Photography for the Bureau of Land Management.

The latest results of the Western Climate Initiative’s quarterly auctions were announced today. All current and future vintage allowances sold, and for the second quarter in a row, settled at a record-high allowance price.

These results arrive as new data underscores the success of the program’s design and the strength of the market.

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Also posted in Carbon Markets, Cities and states / Comments are closed

Western Climate Initiative auction hits a new record, raising over a billion in proceeds for California

Photo by Tom Brewster Photography for the Bureau of Land Management

The results of the Western Climate Initiative’s August auction were released today and all current and future vintage allowances sold at record-high allowance prices.

This news follows two other key climate updates from this summer: The release of the 2019 California Emissions Inventory which looks back at the state’s encouraging emissions progress, and the launch of the Climate Change Scoping Plan update process, which looks ahead at how the state will achieve its 2030 and 2045 targets. Taken together, all of these updates show that California has a golden opportunity to raise its climate ambition, as communities across the state grapple with intensifying, climate-fueled wildfires and drought.

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Also posted in Carbon Markets / Comments are closed