Video - German Climate Scientist Argues the Merits of a Carbon Tax in Australia

German climate change scientist Doctor Malte Meinhausen discusses the value of the Australian Government's carbon tax in 2011. Meinhausen references the European carbon tax and makes the point that Australia's efforts sets the right precedent for the rest of the world to follow. He also addresses some difficult questions about the economic impacts of such a tax.

European Parliament Revives Hopes for Cap-and-Trade

After a failed attempt in April, the European Parliament succeeded in passing a measure early in July to address the low price of the EU’s emissions trading system. Emissions prices in the $72 billion cap-and-trade program had lost more than 70 percent in the past four years. The low price of Europe’s carbon market is attributable to the prolonged recession of 2008 and the glut of permits that cut the price to as low as about 2.75 euros a ton.

Europe's carbon markets are essential to the continent's strategy to reduce GHGs and combat climate change. Cap-and-trade systems gradually make polluting more expensive thereby using market forces to drive the adoption of greener technologies and the reduction in carbon emissions.

World Bank President Advocates Putting a Price on Carbon

Many believe that putting a price on carbon is the best way to combat climate change. Now the chorus of those calling for just that has been joined by World Bank President Jim Yong Kim. He recently urged the world’s environmental ministers to implement a five-point plan that includes putting a price on carbon dioxide emissions, improving agricultural practices and ending fossil fuel subsidies.

Kim urged more countries to roll out price mechanisms either through a tax on carbon, indirect taxation, regulation or creation of a carbon market. Kim made the remarks to 30 of the world's environment ministers gathered in Berlin for informal talks on a new global climate deal to take effect in 2020.

Carbon Pricing and Emissions Trading a Global Review

Carbon trading is increasing around the world as levels of atmospheric carbon are about to move past the 400 parts per million threshold. The European Union has been operating the world’s biggest emissions market since 2005. In North America there is the Regional Greenhouse Gas Initiative (RGGI) and the Western Climate Initiative (WCI). According to Thomson Reuters Point Carbon the North America carbon trading market doubled in 2012 with the inauguration of carbon markets in California and Quebec. In 2012, the volume of permits and credits traded was estimated to be 179 million tons, valued at $782 million.

Although six US states (New Mexico, Arizona, Washington, Oregon, Montana and Utah) abandoned the WCI, five Canadian provinces joined California to form the biggest North American carbon trading market by value. In 2012 the WCI distributed 24 million metric tons of allowances in California and Quebec. As well as pursuing participating in the WCI, California has been actively creating its own cap and trade program.

Video - What are the benefits of a carbon price?

A carbon price can reduce carbon pollution and move towards a clean energy future. This animation explains the benefits of a carbon price. For more information, go to www.cleanenergyfuture.gov.au

Related Posts
World Bank President Advocates Putting a Price on Carbon
Carbon Pricing and Emissions Trading a Global Review
RGGI is Increasing Renewables while Reducing GHGs and Spurring Economic Growth
The Success of RGGI Carbon Trading Shows Cap-and-Trade Works
Video - How does carbon pricing work?
Video - A Price on Carbon in 5 Easy Steps
Video - The Cost of Carbon

Video - How does carbon pricing work?

how a carbon price can reduce carbon pollution and move towards a clean energy future. This animation explains how a carbon price can reduce carbon pollution and move towards a clean energy future. For more information, go to www.cleanenergyfuture.gov.au

Related Posts
World Bank President Advocates Putting a Price on Carbon
Carbon Pricing and Emissions Trading a Global Review
RGGI is Increasing Renewables while Reducing GHGs and Spurring Economic Growth
The Success of RGGI Carbon Trading Shows Cap-and-Trade Works
Video - What are the benefits of a carbon price?
Video - A Price on Carbon in 5 Easy Steps
Video - The Cost of Carbon

Video - A Price on Carbon in 5 Easy Steps

how a carbon price can reduce carbon pollution and move towards a clean energy future. This animation explains how it can be done.

Related Posts
World Bank President Advocates Putting a Price on Carbon
Carbon Pricing and Emissions Trading a Global Review
RGGI is Increasing Renewables while Reducing GHGs and Spurring Economic Growth
The Success of RGGI Carbon Trading Shows Cap-and-Trade Works
Video - What are the benefits of a carbon price?
Video - How does carbon pricing work?
Video - The Cost of Carbon

Video - The Cost of Carbon

Narrated by Reggie Watts. We are all paying the price of carbon pollution. It's time to put a price on carbon and make the polluters stop the carbon destruction. For more information go to http://ClimateRealityProject.org

Related Posts
World Bank President Advocates Putting a Price on Carbon
Carbon Pricing and Emissions Trading a Global Review
RGGI is Increasing Renewables while Reducing GHGs and Spurring Economic Growth
The Success of RGGI Carbon Trading Shows Cap-and-Trade Works
Video - What are the benefits of a carbon price?
Video - How does carbon pricing work?
Video - A Price on Carbon in 5 Easy Steps

RGGI is Increasing Renewables while Reducing GHGs and Spurring Economic Growth

According to a report released on March 26th, the Regional Greenhouse Gas Initiative (RGGI) has spurred the growth of renewable energy, reduced greenhouse gases (GHGs) and helped to grow the economy in the US Northeast. Between 2000 and 2010, the economies of the ten Northeast states grew twice as fast per capita as other states while per capita carbon dioxide emissions declined 25 percent faster.

These are the findings of a report released by Environment America. The report titled "A Double Success: Tackling Global Warming While Growing the Economy with an Improved Regional Greenhouse Gas Initiative," shows that it is possible to increase renewable energy, lower GHGs and grow the economy at all at the same time.

“By promoting clean energy and energy efficiency programs, RGGI helps keep energy dollars in our local economy while reducing the risk of climate change-related costs,” said Pat Stanton, senior vice president for policy and advocacy at the Conservation Services Group (CSG), a large energy services company. “In the last five years, RGGI has helped to spur CSG’s growth. We have added over 450 new employees and improved the efficiency, comfort, and affordability of thousands of New England homes.”

South Korea Passes Cap-and-Trade Legislation

South Korea has passed legislation that will see the introduction of a greenhouse gas emissions trading program in which companies will buy or sell rights to emit carbon dioxide. Although the legislation had bipartisan support working out the details may be difficult.

Republican Gubernatorial Gains and US Carbon Trading Programs

The Midterm gubernatorial elections of 2010 have important implications for regional market based mechanisms of greenhouse gas reductions. Although these programs spur innovation in the clean energy economy and create green jobs, some Republican governors have already indicated that they are planning to withdraw from these agreements.

The three major carbon trading programs in the US are the
Regional Greenhouse Gas Initiative (RGGI), the Western Climate Initiative (WCI) and the Midwestern Greenhouse Gas Reduction Accord (Midwestern Accord).

RGGI is a carbon trading program that involves Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont, it went into effect in 2008. There is one observer state (Pennsylvania), and four Canadian provinces are also observers (Québec, New Brunswick and Ontario).

RGGI is a successful regional initiative to reduce greenhouse gas emissions. RGGI is implementing a cap and trade system for CO2 emissions from power plants in the member states. Emission permit auctioning began in September 2008, and the first three-year compliance period began on January 1, 2009. Proceeds will be used to promote energy conservation and renewable energy. The system affects fossil fuel power plants with 25 MW or greater generating capacity. Since 2008, the program has generated more than $700 million for renewable energy and efficiency programs.

The governor races for states participating in the Regional Greenhouse Gas Initiative (RGGI) have mostly gone to the Democrats. Although the Democrats won seven of the ten states involved in RGGI program (Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New York, and Vermont), they lost Maine. New Jersey did not have a gubernatorial election this year, but the current Rebuplican governor (Chris Christie) supports RGGI.

Lincoln D. Chafee is Rhode Island's new Governor, he is a Republican turned independent and he has a long track record of environmental accomplishments. Sheila Dormody, president of the Environment Council of Rhode Island said, “we will have a good environmental leader in the new governor.”

WCI, is a regional cap-and-trade compact between California, New Mexico, Utah, Washington, Oregon, Montana, Arizona (although Arizona rescinded its partnership agreement on February 5, 2010), and four Canadian provinces (British Columbia, Manitoba, Ontario, and Quebec). WCI was established in 2007 and scheduled to go into effect in 2012.

The observers are Alaska, Colorado, Idaho, Kansas, Nevada, Wyoming, the province of Saskatchewan and the Mexican states of Baja California, Chihuahua, Coahuila, Nuevo Leon, Sonora and Tamaulipas.

WCI is an initiative to combat climate change caused by global warming, independent of their national governments. WCI is a collaboration of independent jurisdictions working together to identify, evaluate, and implement policies to tackle climate change at a regional level. This is a comprehensive effort to reduce greenhouse gas pollution, spur investment in clean-energy technologies that create green jobs and reduce dependence on imported oil.

The governor races in Western Climate Initiative states are roughly split with 3 of 5 races going to Republican governors. While California and Oregon have voted for a Democrat in the statehouse, Republicans won in New Mexico, Utah, and Arizona.

The newly elected Republican governors in Arizona and Utah have already began working to end their state's involvement with the carbon trading program.

The Midwestern Greenhouse Gas Reduction Accord (Midwestern Accord) is a regional agreement by six governors of states in the US Midwest and the Premier of one Canadian province to reduce greenhouse gas emissions to combat climate change.

Signatories to the Accord are the US states of Minnesota, Wisconsin, Illinois, Iowa, Michigan, Kansas, and the Canadian Province of Manitoba. Observers of the Accord are Indiana, Ohio, and South Dakota, as well as the Canadian Province of Ontario.

The Midwestern Accord was signed on November 15, 2007. In June 2009, the Midwestern Greenhouse Gas Reduction Accord Advisory Group finalized its draft.

The Midwestern Accord establishes greenhouse gas reduction targets and develops a market-based and multi-sector cap-and-trade mechanism to help achieve those reduction targets. It includes a system to enable tracking, management, and crediting for entities that reduce greenhouse gas emissions. The Midwest accord also develops and implements additional steps as needed to achieve the reduction targets, such as a low-carbon fuel standards, regional incentives and funding mechanisms.

In the 2010 midterms, Minnesota, went to a democratic governor, while Illinois, Iowa, Kansas, Michigan and Wisconsin all went to Republican governors.

Judging by the number of Republican governors, RGGI looks as though it will survive, while the participation of all the member states in the proposed Western Climate Initiative is in doubt. It can be expected that the Midwest Accord will suffer now that Midwestern governors are predominantly Republican.

Despite the influx of Republican governors, these trading agreements are crucial to preserve any hope of eventually implementing a federal carbon trading program.


Related Posts
The Foxes in the Henhouse: Republicans in Charge of Climate and Energy Committees
Republican Gubernatorial Gains and the Clean Energy Economy
Republican Gubernatorial Gains and Redistricting
Republicans' Anti-Science Stance on Global Warming
Republican Strategy for the 2010 Midterms and Beyond
Republican Political Finance and the Midterm Elections
Republicans Undermining Climate Legislation
Green Stimulus Spending and Republican Opposition
Environmental Issues in California and 5 Key Senate Races
The 2010 Midterms and the Fight Against Climate Change
Deniers Deprived of Misinformation Strategy
The Dangerous Diversion of Climategate
The Business of Climate Change Deception
The New International System: The Role of Government
What is Wrong with the Right