EMISSIONS
New York State Assemblyman Kevin Cahill, a Democrat, introduced legislation on Jan. 2 that would impose a carbon tax of no less than $35 per ton on the distribution or sale of carbon-based fuels, increasing annually by $15 to a maximum of $185. Under the bill, 60 percent of the proceeds from the tax would be…...
In its proposal to repeal the Clean Power Plan (CPP), the Environmental Protection Agency (EPA) has devalued the social cost of carbon (SCC) and disregarded the global benefits from the CPP. Following President Trump’s executive order rescinding the SCC, this approach could be used to revisit existing environmental rules. Despite the pushback on carbon pricing at the federal level, states are increasingly using the social cost of carbon as a metric to measure and reduce their climate impacts.
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In its proposal to repeal the Clean Power Plan (CPP), the Environmental Protection Agency (EPA) has devalued the social cost of carbon (SCC) and disregarded the global benefits from the CPP. Following President Trump’s executive order rescinding the SCC, this approach could be used to revisit existing environmental rules. Despite the pushback on carbon pricing at the federal level, states are increasingly using the social cost of carbon as a metric to measure and reduce their climate impacts.
Legislation enacted across states in 2017 calls for greater diversity in power sources—from expanding renewables to supporting nuclear and natural gas infrastructure. However, there is a clear trend showing the intent to prioritize clean energy and climate policy. States in the forefront of grid modernization plans continue to support renewable development while others are following their models as a way to emulate effective policies.
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Legislation enacted across states in 2017 calls for greater diversity in power sources—from expanding renewables to supporting nuclear and natural gas infrastructure. However, there is a clear trend showing the intent to prioritize clean energy and climate policy. States in the forefront of grid modernization plans continue to support renewable development while others are following their models as a way to emulate effective policies.
A coalition of 13 states joined by more than 200 mayors have expressed their commitment to uphold the 2015 Paris Climate Agreement after President Trump’s decision to withdraw from the accord. Climate efforts continues to shift to regional and state levels as demonstrated by the quick response from states and cities nationwide.
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Results of California’s February 2017 quarterly carbon auction continue to reflect overall market volatility over the past year, due to the ambiguity over the post-2020 cap-and-trade program and pending litigation over the program’s legality. A resolution of legal uncertainties and clarity over the future direction of the cap-and-trade program will increase market activity as participants perceive greater certainty.
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Results of California’s February 2017 quarterly carbon auction continue to reflect overall market volatility over the past year, due to the ambiguity over the post-2020 cap-and-trade program and pending litigation over the program’s legality. A resolution of legal uncertainties and clarity over the future direction of the cap-and-trade program will increase market activity as participants perceive greater certainty.
The Environmental Protection Agency (EPA) has issued the Cross-State Air Pollution Rule Update establishing new ozone season NOX emission budgets for electric generating units in 22 eastern states that impair downwind states’ ability to meet the 2008 ozone standard. The rule will be implemented through the existing ozone season NOX trading program starting from the 2017 ozone season (May through September).
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The Environmental Protection Agency (EPA) has issued the Cross-State Air Pollution Rule Update establishing new ozone season NOX emission budgets for electric generating units in 22 eastern states that impair downwind states’ ability to meet the 2008 ozone standard. The rule will be implemented through the existing ozone season NOX trading program starting from the 2017 ozone season (May through September).
The California Legislature has passed SB 32, which extends the state’s climate policies through 2030, and its companion bill AB 197, which increases legislative oversight of the California Air Resources Board (CARB). The passed measures set the stage for additional requirements to reshape the mix of market and regulatory mechanisms to further renewable energy, building energy efficiency, and vehicle electrification.
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The California Air Resources Board (CARB) has issued a proposal to comply with the Clean Power Plan (CPP) based on California’s existing cap-and-trade program, together with complementary state policies, such as renewable fuel standards and energy efficiency requirements. The action makes California the first state to forge ahead with CPP implementation efforts despite pending judicial review and adds momentum to integrating existing market-based emissions programs as an efficient way to comply with the CPP.
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