Obama Proposes Oil Tax and Clean Energy Infrastructure Investments

President Obama has recently proposed an oil tax and a clean energy infrastructure investment plan that would create a “more integrated, sophisticated and sustainable transportation sector." The proposal is part of a budget request that calls for annual spending of $32 billion and it will be paid for with a $10 a barrel oil tax. The ten year 320 billion is designed to finance a 21st century clean energy infrastructure in the US. This includes annual spending of $20 billion for national transportation initiatives, $10 billion in for cities and states and $2.4 billion for green vehicle research.

Market Based Approaches to Combating Climate Change

Sustainability has woven its way into market mechanisms and it is changing business models. Almost a dozen stock exchanges around the world now require sustainability risk disclosure from listed companies and around 7,000 companies now produce annual sustainability reports through GRI. Carbon pricing, the long awaited holy grail of market based change is slowly becoming a global reality.  Both to capitalize on opportunities and to mitigate against risk, sustainability is now a strategic imperative that no business can afford to ignore.

Webinar - California Cap and Trade Program: Everything Businesses Need to Know

The one hour complimentary webinar on California's Cap and Trade Program will take place on Wednesday, June 4, 2014 at 2pm EDT. It will provide an in-depth look at how California's carbon market works and show you what you need to know to craft a cogent compliance strategy.

As part of California’s Assembly Bill 32, the California cap-and-trade program seeks to reduce greenhouse gas emissions to 1990 levels. By placing a hard cap on emissions and setting up a market based mechanism, California has placed a price on carbon emissions covered by the program.

Companies covered by the cap-and-trade program must purchase California Carbon Allowances (CCAs) to cover their emissions of carbon dioxide equivalent (CO2e). Companies can also use offset credits as a lower cost alternative to CCAs for compliance.

Video - Why a Carbon Tax May be the Best Way to Reduce CO2

In this video Judd Legam, editor of ThinkProgress explains how a carbon tax works. This effort is of great importance in light of the current concentration of carbon dioxide in the earth's atmosphere which now exceeds 400 parts per million which is causing big changes in global temperatures, which means big changes in climate: more droughts, more wildfires, more extreme weather, more crop failure, and all of the other effects of global warming. According to Legam, the simplest solution is a carbon tax.

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.”

Global Carbon Market will Grow in 2012 then Decline in 2013

As reported in Commodities Now, the carbon market will grow in 2012 and then fall in 2013. According to analysis by Thomson Reuters Point Carbon, despite depressed prices, the volume of carbon traded globally will grow by 13 percent in 2012, reaching 9.5 Gt CO2e.

GE’s Immelt Calls Current US Energy Policy "Stupid"

GE's CEO Jeffrey Immelt has indicated that the US needs a national energy policy that puts a long-term price on carbon pollution as China and other nations surge ahead in green technology. GE, based in Fairfield, Connecticut, is the world’s biggest maker of power-generation equipment, GE power-generation equipment provides one-third of the world’s electricity. The GE Energy Infrastructure division includes transmission equipment and smart-meters. As reported in Businesssweek, Immelt said, “China is green, green, green, green -- four greens.” He cited demand, innovation funding, supply chain and public policy as advantages for China over the US. Immelt is a leading advocate in US Climate Action Partnership, a coalition of companies backing stalled legislation that would establish a cap-and-trade. The failure to set new rules promoting “clean” technologies puts the U.S. at risk, he said. “You actually have to have an energy policy,” Immelt said. “It’s stupid what we have today.” China and other industrialized counties are pulling ahead of the US in the race to lead in clean energy because policy makers in Washington have been caught up in debates on issues such as the effects of climate change, Immelt said. “The rest of the world is moving 10 times faster than we are, and that’s going to mean someday fewer jobs, it’s going to mean less energy security, it’s going to mean lots of other things other than just climate change,” he said. Immelt, who also called for a national standard requiring the use of renewable energy, said GE won’t give up on pushing to change US energy policy. Immelt indicated that the US needs to establish a “long-term price signal” on carbon emissions, in order for companies to provide “appropriate funding for innovation.” Such moves would create jobs rather than shift them overseas, Immelt said. Related Posts Video: The Wisdom of Private Sector Investments in CleanTech GE's Investments in Green are Paying Off Growing US Corporate Investments are Driving Cleantech in 2010 US Cap-and-Trade: Obstacles and Solutions US Cap-and-Trade: Positioning Your Business