Close vote on CA Prop 26 Proposition 26 is likely to be a close vote since Prop 23 has gained so much attention. By requiring a two-thirds majority vote in order to pass fees on major emitters, Prop 26 could hinder implementation of AB32. So far out-of-state fossil fuel companies like Chevron and Shell have
Read moreAlberta anticipates US carbon price Alberta is waiting to see how the US will participate in the evolution of the global carbon market before setting fees on its major emitters. Alberta’s GHG reduction law requires large emitters to either pay about $15 towards a cleantech fund per each CO2 ton or buy Alberta-based carbon credits
Read moreEPA can spark trade market A section within the Clean Air Act may give the EPA the power to enforce GHG regulations through a market-based system says Janet Peace of the Pew Center on Global Climate Change. Beginning January 2, the EPA will require large industries to get permits for GHG emissions, showing that they
Read moreKyoto extension probable Despite disagreement amongst many key participants, it is expected that many countries will set new targets for emission cuts. While some countries hoped for a new international pact to replace Kytoto, the EU recently voiced support to extend the current contract. The largest debate has sprung up between the US and China
Read moreInvestors oppose Prop 23 68 investors consisting of asset managers and venture capitalists urged voters to vote against Prop 23, noting that billions of dollars and thousands of jobs will leave California for overseas competition should AB32 stall. $9 billion has been invested in clean tech development since California enacted AB32 in 2006 but should
Read more“Stealth” initiative could stall AB32 Although there has been large opposition to California’s Prop 23, which would halt AB32 until the unemployment rate drops, another initiative could also derail AB32. Prop 26 seeks to put “fees” in the same category as “taxes”, which would then require a two-thirds majority vote to levy any new fees.
Read moreCarbon price included in long-term schemes Although there has yet to be a consensus on the future of climate laws in the US, some energy utilities have already begun factoring in the price of carbon in their long-term contracts that can extend up to 15 years. In California, companies are anticipating the 2012 implementation of
Read moreVoters support climate change candidates In the upcoming midterm elections this November 2 the races for nearly a quarter of the 435 House of Representatives seats are neck and neck. Many candidates were concerned that by supporting the Waxman-Markey bill which seeks to implement an emissions trading scheme, they would not be reelected. However polls
Read moreImproved carbon storage in US forests According to the US Department of Agriculture US forests have successfully offset 11 percent of industrial GHG emissions in the past five years. It is estimated that US forests presently store 41.1 billion tons of carbon, a number that has risen progressively sine 1990. Privately owned forest land is
Read moreRedd agreement expected in Cancun A decision should be reached on reducing emissions from deforestation and degradation (Redd) at the Cancun summit despite difficulties in agreeing upon a larger treaty framework. This agreement would focus on Redd’s ability to avoid deforestation by improving carbon stocks through sustainable forest management. Redd will be implemented in three
Read more2.5 million CERs issued The UN issued almost 2.5 million certified emissions reductions (CERs) last week, much more than this year’s weekly average of 1.9 million. A large portion of these CERs went to energy efficiency projects in China, including emission reductions for iron and steel corporations and a large hydroelectric plant. Projects in South
Read moreModest progress for UN talks Although there has yet to be any concrete agreement following the six day climate summit in Tianjin, UN climate director Christiana Figueres is pleased that progress has been made leading up to the December Cancun meeting. He hopes to focus on allowing the transfer of technology to developing nations and
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