{"id":9267,"date":"2014-11-21T10:34:37","date_gmt":"2014-11-21T15:34:37","guid":{"rendered":"http:\/\/blogs.edf.org\/climate411\/?p=9267"},"modified":"2014-11-21T10:34:37","modified_gmt":"2014-11-21T15:34:37","slug":"carbon-markets-reward-10-pioneering-states-whos-next","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/climate411\/2014\/11\/21\/carbon-markets-reward-10-pioneering-states-whos-next\/","title":{"rendered":"Carbon markets reward 10 pioneering states. Who&#8217;s next?"},"content":{"rendered":"<dl id=\"\" class=\"wp-caption alignright\" style=\"width: 388px\">\n<dt class=\"wp-caption-dt\"><a href=\"https:\/\/www.flickr.com\/photos\/nickhumphries\/2157895464\/\"><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"http:\/\/static.edf.org\/cdn\/farfuture\/2qjVHmdZDgIGtpcz6FVT3htCQJX08OiynX_b5lSo5ZI\/mtime:1416418770\/sites\/default\/files\/carbon_378x235.jpg\" alt=\"\" width=\"378\" height=\"235\" \/><\/a><\/dt>\n<dd class=\"wp-caption-dd\">Source: Flickr\/Nick Humphries<\/dd>\n<\/dl>\n<p>A handful of states are already proving that economic growth and environmental protection can go hand in hand \u2013 and they\u2019re using market forces, price signals and economic incentives to meet their goals.<\/p>\n<p>These results are particularly salient as states consider how to comply with the U.S. Environmental Protection Agency\u2019s <a href=\"http:\/\/www.edf.org\/climate\/act-now-key-opportunity-support-carbon-limits\">plan to limit dangerous pollution<\/a> from power plants.<\/p>\n<p>So let&#8217;s take a closer look\u00a0at what&#8217;s happening on our two coasts.<\/p>\n<p><strong><br \/>\nCalifornia: 4% cut in emissions, 2% growth<\/strong><\/p>\n<p>California\u2019s landmark <a href=\"http:\/\/www.edf.org\/climate\/california-climate-launch-pad\">cap-and-trade program<\/a> is closing out its second year with some strong results. Between 2012 and 2013, greenhouse gas emissions from the 350+ facilities covered by the program dropped by 4 percent, putting California solidly on track to meet its goal to cut emissions to 1990 levels by 2020.<\/p>\n<p>During the same period, the state\u2019s gross domestic product jumped 2 percent.<\/p>\n<p>What\u2019s more, the climate change and clean energy policies ushered in by California\u2019s Global Warming Solutions Act of 2006 helped slash carbon pollution from in-state and imported electricity by 16 percent between 2005 and 2012.<\/p>\n<p>All this while attracting\u00a0<a href=\"http:\/\/www.bizjournals.com\/sanfrancisco\/news\/2012\/04\/19\/california-green-economy-leads-us.html\">more clean-tech venture capital<\/a> to California than to all other states combined.<\/p>\n<p><strong>Northeast: GDP rises as emissions and power prices drop<\/strong><\/p>\n<p>Those who would rather turn east for inspiration can look to the nine-state <a href=\"http:\/\/www.rggi.org\/\">Regional Greenhouse Gas Initiative<\/a>, a cap-and-trade system stretching from Maryland to Maine.<\/p>\n<p>Since the RGGI program launched in 2009, participating states have cut their greenhouse gas emissions 2.7 times more than non-RGGI states, while growing their gross domestic product 2.5 times more than non-RGGI states.<\/p>\n<p>The states have experienced these dramatic <a href=\"http:\/\/acadiacenter.org\/document\/rggi-a-successful-carbon-pricing-program\/\">win-win benefits<\/a>while also seeing retail electricity prices across the region decline by an average of 8 percent.<\/p>\n<p>With <a href=\"http:\/\/www.washingtonpost.com\/politics\/polling\/postabc-poll-epa-rules-greenhouse-gases\/2014\/06\/08\/5a7ca532-ea77-11e3-b10e-5090cf3b5958_page.html\">70 percent of Americans supporting<\/a> EPA\u2019s Clean Power Plan \u2013 and given that everyone warms up to the notion of a sound economy \u2013 can these carbon markets be replicated elsewhere?<\/p>\n<p><strong>States choose their own path<\/strong><\/p>\n<p>EPA\u2019s rules aim to cut power plant pollution by 30 percent by 2030, giving states individual reduction targets along with<a href=\"http:\/\/www.edf.org\/blog\/2014\/10\/23\/flexible-pollution-rules-can-boost-economy-5-reasons-why\">great flexibility<\/a> to meet that national goal.<\/p>\n<p>Hitting the sweet spot of supporting economic growth and environmental protection will be a primary objective, and the\u00a0options are virtually endless. <a href=\"http:\/\/www.edf.org\/blog\/2014\/06\/10\/cheapest-way-cut-climate-pollution-energy-efficiency\">Energy efficiency<\/a>, renewable energy, power plant efficiency and cap-and-trade are all good bets.<\/p>\n<p><strong>Expanded markets offer new options<\/strong><\/p>\n<p>Not surprisingly, EPA mentioned RGGI numerous times in its proposed power plant standards as an efficient way to cut carbon pollution. Since then, experts have suggested that regional markets, or even a single national market in which all 50 states participate, may be a way to <a href=\"http:\/\/www.scientificamerican.com\/article\/how-to-make-the-clean-power-plan-affordable\/\">make the plan affordable<\/a>.<\/p>\n<p>States still have some time to ponder their options.<\/p>\n<p>EPA is expected to finalize the rule in summer 2015, and states have another year after that to submit plans to EPA detailing how they intend to meet their targets. Those entering into multistate agreements have three years.<\/p>\n<p>The good news is that they wouldn\u2019t be starting from scratch. The experiences of California and the RGGI states can provide useful, real-world insights as states plot their path toward a clean energy future.<\/p>\n<p><em>This post\u00a0originally appeared on our <a href=\"http:\/\/www.edf.org\/blog\/2014\/11\/19\/carbon-markets-reward-10-pioneering-states-whos-next\">EDF Voices blog<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Flickr\/Nick Humphries A handful of states are already proving that economic growth and environmental protection can go hand in hand \u2013 and they\u2019re using market forces, price signals and economic incentives to meet their goals. These results are particularly salient as states consider how to comply with the U.S. Environmental Protection Agency\u2019s plan to &#8230;<\/p>\n","protected":false},"author":37,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4017,4025,43,116,202,44],"tags":[],"coauthors":[],"class_list":["post-9267","post","type-post","status-publish","format-standard","hentry","category-clean-air-act","category-carbon-pollution-standards","category-economics","category-energy-technologies","category-greenhouse-gas-emissions","category-policy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Carbon markets reward 10 pioneering states. Who&#039;s next? - Climate 411<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.edf.org\/climate411\/2014\/11\/21\/carbon-markets-reward-10-pioneering-states-whos-next\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Carbon markets reward 10 pioneering states. Who&#039;s next? - Climate 411\" \/>\n<meta property=\"og:description\" content=\"Source: Flickr\/Nick Humphries A handful of states are already proving that economic growth and environmental protection can go hand in hand \u2013 and they\u2019re using market forces, price signals and economic incentives to meet their goals. These results are particularly salient as states consider how to comply with the U.S. Environmental Protection Agency\u2019s plan to ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blogs.edf.org\/climate411\/2014\/11\/21\/carbon-markets-reward-10-pioneering-states-whos-next\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate 411\" \/>\n<meta property=\"article:published_time\" content=\"2014-11-21T15:34:37+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.edf.org\/cdn\/farfuture\/2qjVHmdZDgIGtpcz6FVT3htCQJX08OiynX_b5lSo5ZI\/mtime:1416418770\/sites\/default\/files\/carbon_378x235.jpg\" \/>\n<meta name=\"author\" content=\"Derek Walker\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Derek Walker\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/blogs.edf.org\\\/climate411\\\/2014\\\/11\\\/21\\\/carbon-markets-reward-10-pioneering-states-whos-next\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/blogs.edf.org\\\/climate411\\\/2014\\\/11\\\/21\\\/carbon-markets-reward-10-pioneering-states-whos-next\\\/\"},\"author\":{\"name\":\"Derek Walker\",\"@id\":\"https:\\\/\\\/blogs.edf.org\\\/climate411\\\/#\\\/schema\\\/person\\\/e7fa4643b3d58839778f27d0a96a5f95\"},\"headline\":\"Carbon markets reward 10 pioneering states. 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