ENVIRONMENTAL MARKETS
Montana House Lawmaker Mary Dunwell, a Democrat, introduced legislation on Jan. 14 that would impose a carbon tax of $10 per metric ton on large emissions sources from 2020, increasing annually by $1, plus the rate of inflation. The bill would set an emissions reduction goal of 25 percent by 2035, and 50 percent by…...
Democratic Governor Tom Wolf issued an executive order on Jan. 8 requiring the state to work toward reducing greenhouse gas emissions by 26 percent by 2025, and 80 percent by 2050, relative to 2005 levels. By setting goals in line with the 2015 Paris climate agreement, Pennsylvania joins a growing number of states reacting to President…...
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…...
The New Jersey Department of Environmental Protection proposed to set an initial carbon dioxide cap at 18 million tons in 2020 for the electricity generation sector when the state officially becomes a member of the Regional Greenhouse Gas Initiative, the nation’s first mandatory cap-and-trade program to reduce greenhouse gas emissions, according to a Dec. 17…...
With the federal government’s U-turn on climate policy, states are taking the lead in regulating greenhouse gas emissions. Specifically, carbon trading is gaining traction as more jurisdictions are joining cap-and-trade markets.The two regional blocs in the U.S., California, Quebec, and Ontario’s cap-and-trade system and the Regional Greenhouse Gas Initiative (RGGI) involving nine Northeastern states, recently outlined their plans after 2020 ending uncertainty about their medium-term future.
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With the federal government’s U-turn on climate policy, states are taking the lead in regulating greenhouse gas emissions. Specifically, carbon trading is gaining traction as more jurisdictions are joining cap-and-trade markets.The two regional blocs in the U.S., California, Quebec, and Ontario’s cap-and-trade system and the Regional Greenhouse Gas Initiative (RGGI) involving nine Northeastern states, recently outlined their plans after 2020 ending uncertainty about their medium-term future.
The Virginia Air Pollution Control Board has approved a proposal to reduce power sector carbon dioxide emissions by 30 percent between 2020 and 2030. The proposal would link Virginia with the Regional Greenhouse Gas Initiative (RGGI), the nation’s first mandatory cap-and-trade program. The proposal is consistent with RGGI’s recently announced proposed improvements that caused a rebound in allowance prices in the September auction. With member states in agreement over the program's post-2020 path, RGGI is likely in for a boost that could see both price increases in future auctions and additional states joining the group.
The Virginia Air Pollution Control Board has approved a proposal to reduce power sector carbon dioxide emissions by 30 percent between 2020 and 2030. The proposal would link Virginia with the Regional Greenhouse Gas Initiative (RGGI), the nation’s first mandatory cap-and-trade program. The proposal is consistent with RGGI’s recently announced proposed improvements that caused a rebound in allowance prices in the September auction. With member states in agreement over the program's post-2020 path, RGGI is likely in for a boost that could see both price increases in future auctions and additional states joining the group.
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.
The California legislature has passed legislation extending the cap-and-trade program, the centerpiece of the state’s efforts against climate change. The extension aligns the program with the state’s 2030 emissions reduction targets. It cements California’s role as a leading state in climate policy nationwide at a time when federal climate policy remains uncertain.
This content requires that you purchase additional access. The price is $99.00.
The California legislature has passed legislation extending the cap-and-trade program, the centerpiece of the state’s efforts against climate change. The extension aligns the program with the state’s 2030 emissions reduction targets. It cements California's role as a leading state in climate policy nationwide at a time when federal climate policy remains uncertain.