ENVIRONMENTAL MARKETS
California’s sixth carbon allowance auction sold all current 2014 and advanced 2017 allowances indicating cap-and-trade program stability. On February 24, 2014, the California Air Resources Board (CARB) released the results of its sixth quarterly carbon allowance auction held on February 19. CARB offered 19,538,695 allowances under Current Auction (2014 vintage allowances) and 9,260,000 allowances under…...
On January 28, the U.S. Senate Committee on Energy and Natural Resources held a hearing to receive testimony on S. 1600, the Critical Minerals Policy Act of 2013. This Act that would enable domestic production of critical minerals necessary in the manufacturing of many clean energy technologies. Overview Critical minerals play and important role in…...
President Obama has directed EPA and DOT to develop fuel efficiency and emissions standards for medium- and heavy duty vehicles beyond model year 2018. On February 18, 2014, President Barack Obama directed the Environmental Protection Agency (EPA) and the Department of Transportation’s (DOT) National Highway Traffic Safety Administration (NHTSA) to develop the next phase of…...
President Obama’s 2015 Budget proposal will include a $1B Climate Resilience Fund to enhance climate change preparedness and infrastructure resilience. During a meeting with farmers and ranchers in drought-affected California on February 14, 2014, President Barack Obama announced a $1B Climate Resilience Fund to support climate impact actions. The Fund will be included in the…...
The California Air Resources Board’s proposed AB 32 Scoping Plan update calls for a mid-term emissions reduction target and recommends sector-specific actions. On February 10, 2014, the California Air Resources Board (ARB) released its Proposed First Update to the AB 32 Scoping Plan, outlining priorities and recommendations to achieve the state’s long-term climate goal of…...
EPA’s 2013 enforcement results show violators paid more than $5.6B in fines, civil penalties, restitution, and environmental projects. On February 7, 2014, the Environmental Protection Agency (EPA) released its FY 2013 enforcement and compliance report detailing results of EPA civil and criminal enforcement programs and estimated environmental benefits. The results highlight that violators paid more…...
On January 21, Kilowatt Financial announced $100 million debt facility with Citi to support residential energy efficiency upgrades. One day later, Joule Assets announced a $100 million fund to aggregate energy efficiency and demand response projects for private equity investors. Overview Although creative energy efficiency financing has existed for decades, new mechanisms are emerging to…...
USDA’s Climate Hubs will establish regional climate science networks to strengthen agriculture and forestry response to climate risks. On February 5, 2014, the U.S. Department of Agriculture (USDA) announced the launch of seven Regional Hubs for Risk Adaptation and Mitigation to Climate Change to strengthen agriculture and forestry response to climate impacts. The measure is…...
In last night’s 2014 State of the Union Address, President Barack Obama highlighted energy industry progress as a major job and economic growth driver. The President first mentioned crude oil production outpacing imports for the first time in nearly 20 years, then natural gas production and how if extracted safely, it can serve as a…...
Solar carve-outs have been implemented as part of the Renewable Portfolio Standard (RPS) in 14 U.S. states and the District of Columbia, helping to support the expansion of solar energy projects throughout the nation. All of these states are on track to meet their long-term compliance goals, and all show increasing percentages of annual RPS…...
NASA’s 2013 global temperature data show continued long-term climate warming trend with atmospheric carbon dioxide (CO2) at its highest level in 800,000 years. On January 21, 2014, the National Aeronautics Space Administration’s (NASA) Goddard Institute of Space Studies (GISS) in New York released a report analyzing 2013 global surface temperatures. The report showed that the…...
The 2013 Reducing Excessive Deadline Obligations Act would reform Superfund hazardous waste cleanup regulations by increasing state participation in imposing remediation provisions. On January 9, 2014, the House of Representatives approved the 2013 Reducing Excessive Deadline Obligations Act (H.R. 2279) aimed to increase the role of states in the Environmental Protection Agency’s (EPA) Superfund hazardous…...
