Climate 411

New Inflation Reduction Act Tracker Launched by the Sabin Center and EDF

By EDF Blogs / Published: March 8, 2023

This piece was co-authored by EDF Clean Air Legal Fellow Richard Yates and Sabin Center for Climate Change Law Fellow Eleonor Dyan Garcia. It is also posted on the Sabin Center’s website.

The Sabin Center for Climate Change Law and Environmental Defense Fund have just launched IRAtracker.org. This free online resource includes a searchable database that catalogues all of the climate change-related provisions in the 2022 Inflation Reduction Act (IRA), as well as a tracker that records actions taken by federal agencies to implement those provisions.

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Also posted in Innovation, Partners for Change, Policy / Authors: / Comments are closed

Washington state is holding its first cap-and-invest auction. Here’s what to expect.

By Caroline Jones / Published: February 22, 2023
Photo of the Asgard Pass in Washington state.

Photo Credit: Getty Images

Blog co-authored by Kjellen Belcher, Manager, U.S. Climate

Washington state is getting ready for an exciting development in its new nation-leading climate program, the Climate Commitment Act, which is slated to deliver healthier air, more clean energy jobs and a safer climate future for communities.

After experiencing costly and historic wildfires, heat waves and flooding — all within the past few years — Washington communities are ready for this cap-and-invest program to fast-track the transition to a stronger and more equitable, clean economy. Now, the program will take a major step forward with Washington’s first allowance auction to be held on February 28.

Here’s what you should know about the program and how the allowance auction works. Read More »

Also posted in Carbon Markets, Cities and states, Economics, Energy, Greenhouse Gas Emissions, Health, Policy / Comments are closed

4 reasons why Colorado legislators should strengthen the state’s climate targets

By Katie Schneer / Published: February 13, 2023

Photo Credit: Getty Images

This blog was co-authored by Alex DeGolia, Director, U.S. Climate.

Last month, Colorado’s Senate Transportation and Energy Committee approved SB 23-16 — a wide-ranging bill that strengthens Colorado’s commitment to cut statewide climate pollution beyond 2030. It would put new targets in law requiring cuts of at least 65% by 2035, 80% by 2040, 90% by 2045, and strengthen the state’s 2050 target to ensure a 100% cut in pollution by 2050.

This climate bill arrives at a moment of great urgency and opportunity for the state.

As Colorado faces down the consequences of more climate change-fueled impacts, like droughts and wildfires, Coloradans are looking to their leaders to raise the state’s climate ambition and secure a safer, healthier future for their communities. At the same time, Colorado now has more opportunity than ever before to make that ambition a reality, thanks to billions in federal climate and clean energy investments from the Inflation Reduction Act.

Here are 4 reasons why the legislature should pass these ambitious climate targets:

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Also posted in Cities and states, Greenhouse Gas Emissions, Policy, Science / Read 2 Responses

Banking Regulators Take Critical Steps to Account for Climate-Related Financial Risks

By Stephanie Jones / Published: November 30, 2022

(This piece was co-authored by Bridget Pals at NYU Law School’s Institute for Policy Integrity. It is also posted on the Institute for Policy Integrity’s website)

This fall, following a summer when climate change fueled catastrophic heat waves, droughts, floods, and fires, key U.S. authorities acknowledged the urgent need to act on climate risks to the banking system. Recent actions and remarks are beginning to shed light on what the next wave of policies to address these risks might entail. They’re likely to look a lot like many other, existing financial risk regulations.

The heads of the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) both delivered remarks highlighting actions their agencies have already taken to address climate-related banking risks and identifying additional steps they will take. Michael Barr, the Vice Chair for Supervision of the Federal Reserve (Fed), similarly stated that climate-related financial risks implicate the Fed’s “supervisory responsibilities and [its] role in promoting a safe and stable financial system,” so the Fed plans to issue guidance in coordination with fellow financial regulators and conduct scenario analyses.

The officials’ recent statements build on earlier actions by the OCC and FDIC, which both issued draft principles in the last year on how banks should manage climate risk to meet safety and soundness expectations. The Institute for Policy Integrity and Environmental Defense Fund submitted joint comments supporting both guidance documents as important steps toward addressing the risks that climate change poses to the structural integrity of our financial system.

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Posted in News / Comments are closed

One year later: What’s next for the bipartisan infrastructure law’s historic investments in new climate tech?

By Chandler Green / Published: November 15, 2022

A year ago, President Biden signed the bipartisan Infrastructure Investment and Jobs Act into law, the largest investment in infrastructure since the New Deal.

Among the many key climate investments included, the infrastructure law put a long-awaited down payment on several new and promising climate solutions including carbon dioxide removal, hydrogen, long-term energy storage and technologies to support clean industry.

We spoke with Natasha Vidangos, Senior Director for Climate Innovation and Technology at Environmental Defense Fund, about what’s next for these investments and how they can help us tackle the climate crisis.

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Also posted in Greenhouse Gas Emissions, Innovation / Comments are closed

COP 27: The 3 issues we’re watching as the world gathers in Sharm El-Sheikh

By Maggie Ferrato / Published: November 6, 2022

Co-authored by Angela Churie Kallhauge, Executive Vice President, Impact; Maggie Ferrato, Manager, Global Climate; and Julia Ilhardt, High Meadows Fellow 

The COP27 logo seen on a flag in Sharm El-Sheikh, Egypt. Source: Alamy

It’s been a year since countries and companies announced new climate pledges in Glasgow. 

Since then, war and economic disruption, on top of a still-raging pandemic and increasingly destructive natural disasters, have complicated those commitments – and arguably made them even more urgent. The latest report from the Intergovernmental Panel on Climate Change underscores that we have very little time left to meet even the upper limit of the Paris Agreement’s temperature goals. 

COP27 is expected to be a “working COP,” meaning we’re likely to see incremental progress on key issues rather than major announcements. But that doesn’t make it any less important. This COP is a chance for countries to take meaningful steps toward tackling the climate crisis.  

Here are the three issues to watch in Egypt – both in the negotiations and on the sidelines – to ensure we implement our existing commitments while raising our ambition.   Read More »

Also posted in Carbon Markets, Greenhouse Gas Emissions, Paris Agreement, United Nations / Tagged | Comments are closed