California's Cap-and-Trade Program is Alive and Well

This is the eighth installment in a series of posts on California's climate leadership. These posts address a wide range of related topics including economic benefits and renewable energy.

With unprecedented bipartisan support, California lawmakers have voted to extend the state's cap-and-trade program. This carbon pricing program is key to meeting California's ambitious carbon reduction targets. The plan puts a statewide cap on greenhouse gas emissions and allows companies to buy and sell pollution credits.

G19 Leaves Trump Behind and Moves Forward on Climate Action

A recent G20 summit communiqué out of Hamburg Germany acknowledged the abdication of Trump but emphasized the global commitment to responsible climate action. Historically the G20 has made unanimous declarations but Trump's decision to quit the Paris Climate Agreement resulted in a break with this tradition. Despite the isolation of the US, the world's leading economic powers indicated that they remain serious about climate action. The summit was marked by riots and Trump was singled out as the preferred target of the protestors.

Trump was characteristically awkward at the summit and he appeared to have difficulty following the discussion at times. At one point Trump had to be diverted from his day-dreaming to turn around and pose for the cameras. Trump's only contribution was an initiative to help other countries burn fossil fuels more cleanly. This is rather ironic as the Paris Agreement seeks to end the burning of hydrocarbons.

Obama Administration's Oil and Gas Initiatives

In their final year, the Obama administration has moved forward with some important actions to curtail extraction and reduce pollution from the oil and gas industry. Fossil fuels are responsible for the vast majority of greenhouse gases and deadly air pollution.

To help address these concerns President Obama has previously a raft of fossil fuel related actions. This includes, the Clean Power Plan, stopping the KXL, cuting Shell's Arctic drilling in half and halting the building of the Dakota Access pipeline.  In 2016 President Obama went even further and banned offshore Arctic oil drilling, changed the methane rules for the fossil fuel industry and canceled gas leases on Native lands.

Event - COP 22 and IRENA Renewable Energy Side Events

COP 22 will take place November 7-18, 2016 in Marrakech, Morocco. The United Nations Framework Convention on Climate Change (UNFCCC), established in 1994, aims to stabilize the concentration of greenhouse gases in the atmosphere at a level that prevents "dangerous anthropogenic interference with the climate system".

Paris Climate Agreement Comes into Force

The world's first global initiative to reign in climate change has come into effect. On October 5, 2016, less than a year after the Paris Climate Agreement was signed at COP21, a critical threshold was passed. With the ratification of more than 62 countries, the pact will formally enter into force on November 4, 2016.

Many thought we would not be able to secure a deal in Paris at the end of last year. Then detractors doubted that enough countries would ratify it. The naysayers have been proven wrong.

This historic agreement is designed to combat climate change through drastic emissions reduction pledges known as the INDCs. To bring this carbon cutting global agreement into force 55 countries representing 55 percent of global emissions had to formally join.  The US, China and the EU have all signed onto the deal.

US China and Others to Sign the Paris Climate Agreement on Earth Day Suggesting an Early Start to Implementation

The US and China, the world's leading carbon emitters have agreed to sign the historic Paris Climate Agreement at a signing ceremony on Earth Day. The signing of the agreement on Friday April 22nd at UN headquarters is more than just a symbolic gesture.

Of the 196 countries on-board at COP21 in Paris last December, as many as 155 other nations, including India, are expected to sign the agreement on Earth Day.

Agreement on a Pan-Canadian Carbon Pricing Scheme

It looks as though Prime Minister Justin Trudeau's Liberals are moving forward with a national carbon pricing scheme albeit adapted to regional circumstances. On Thursday March 3, 2016, Trudeau announced that the federal government along with all ten provinces have agreed to a "comprehensive and ambitious plan" to put a price on carbon.

Carbon pricing (which includes both cap and trade and a carbon tax) leverages the market to disincentivize emissions intensive activities by making them more expensive while incentivizing low carbon technologies. In effect carbon pricing integrates the true cost of carbon which is currently not reflected in the market. Carbon pricing is the best way to help governments reduce emissions while minimizing economic impacts.

Justice Scalia's Death Bodes Well for the Clean Power Plan

The EPA's Clean Power Plan (CPP), the centerpiece of the Obama administration's climate efforts was stayed by the US Supreme Court on February 9, however the death of Conservative justice Antonin Scalia just a few days later breathes new life into the plan.

In total 27 states, the coal industry, and the Republican party want to stop the EPA's efforts to reign in emissions from US power plants. Their efforts to undermine the plan are at odds with American opinions. Polls show that the majority of Americans support the CPP even in states that oppose it.

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.

COP21 Deal Signals the End of Fossil Fuels and the Beginning of an Era of Unprecedented Growth for Renewables

The Paris climate deal erases any doubt that fossil fuels will be replaced by renewable energy. Even before the start of COP21, the world had already begun to accept that the end of fossil fuels and the dawn of a low carbon economy powered by renewables. We now have the political will, investment dollars and technological innovation required to drive the transition from fossil fuels to renewables.

In an interview taped for CBS' Face the Nation, John Kerry called the climate pact "a breakaway agreement" that will change how countries make decisions and "spur massive investment." We have already seen how reduced demand and increased supply have resulted in a glut of oil pushing prices to around $36 a barrel. Oil prices have not been this low in more than five years.

Market Reaction to COP21 Deal: Fossil Fuels Crash while Renewables Soar

As predicted renewable energy stocks soared while fossil fuels continued their slide after the announcement of the COP21 agreement. At the Paris climate summit a total of 195 countries effectively agreed to end fossil fuels and transition to renewable energy. This worsens an already grim forecast for fossil fuels and improves the prospects for even more growth in renewables. While clean energy is the clear winner fossil fuels are the clear loser post Paris. Due to the deal that was struck at COP21, the fossil fuel industry is facing a $33 trillion hit to its expected revenues over the next 20 years.

While it has long been known that fossil fuels are the leading cause of both pollution and climate change, it is now unavoidably obvious that petrochemicals are also a bad investment. Conversely renewable energy is both good for the environment and a tremendous investment opportunity.

Saudi Arabia is on the COP21 Naughty List

Saudi Arabia continued to block climate action at the Paris climate talks. The COP21 negotiations were marked by opposition from oil-producing states like Russia and Venezuela, but no country was more focused on trying to scuttle the talks than Saudi Arabia. By resisting carbon caps, periodic reviews, the 1.5C target, and full decarbonization by 2050, Saudi Arabia was accused of trying to "sabotage" the climate deal. Saudi Arabia has 18 percent of the world petroleum reserves is the the earth's tenth largest polluter. The nation has been the world's largest producer of crude oil until it was overtaken by the US in 2015. Saudi Arabia's economy is heavily dependent on fossil fuels and it uses its oil wealth to power its electricity grid.

"They are seeing the writing on the wall," environmental activist Wael Hmaidan told the Guardian, adding, "The world is changing and it’s making them very nervous. Anything that would increase ambition or fast forward this energy transition that is already taking place is something that they try to block," Hmaidan said.

COP21 Naughty List: Republicans Presidential Contenders

Republicans vying for the presidential nomination have all opposed the COP21 climate accord. Republicans have a well earned reputation for denying the veracity of climate change and opposing anything with a "clean" prefix (energy air and water). The GOP did all it could to undermine the COP21 climate agreement.

Republicans advanced two motions to kill the clean power plan. However, President Obama swiftly pocket vetoed the motions. The Republican's anti-science climate stance would be comical if it did not come with such grave implications for US climate action.

The COP21 Climate Deal and the Crucial Role of Obama's Leadership (Video)

Under the leadership of President Barack Obama the US played a salient role in securing an agreement at the recent COP21 climate talks in Paris. History will record that the US President was a pivotal figure who helping to craft a positive outcome at the Paris negotiations.

Republican's Failed Attempts to Undermine the COP21 Climate Agreement

Republicans in Congress did what they could to scuttle a climate deal at COP21. Just as Republicans are expert in sewing doubt about the scientific veracity of climate change they tried to cast doubt on US support for a climate agreement at COP21. Republican committee chairs held hearings and they tried to undermine the work of government scientific agencies.

Republicans also used their control over the purse strings to try to stop the US from contributing to the Green Climate Fund. They even threatened to shut down government by refusing to pass a spending bill.

Unpacking the COP21 Paris Climate Agreement (Infographic)

There is a lot of information in the 31 page climate agreement reached at COP21 in Paris. Here is an infographic from Climate Tracker that helps to unpack some of the more salient items in the historic deal. The highlights of the key topics include temperature increase limits, human rights, ambition mechanism, implementation and adaptation, finance, transparency and accountability,  mitigation, loss damage, and reviews.

The COP21 Agreement is a Momentous Leap Forward

The agreement signed in Paris is the most significant achievement in the history of climate action.. The world has come together to agree on a  31-page deal that lays a solid foundation for serious climate action. The signing of the Paris accord signals the start of globally coordinated efforts to reign-in climate change. History will record that the deal was signed at the 21st Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21) on December 12, 2015.

Being Hopeful About the COP21 Climate Deal (Video)

After more than 12 days of negotiations, a final draft climate deal text was unveiled at COP21 in Paris. This most recent draft took more than 20 years and it is expected that it will be signed this afternoon. The deal was aided by strong leadership from nations like Canada and the US.

In the thick of the negotiations last week US Secretary of State John Kerry told world leaders that the United States wants to get even more ambitious over the next couple days.

Kerry said that the US has joined the "High Ambition Coalition," in calling for a robust deal. The US also doubled its financial contributions to vulnerable countries impacted by climate change ($861 million is being contributed by the US by 2020).

Breaking: We Have a Final Draft Climate Agreement at COP21

Sixteen hours after the scheduled conclusion of the COP21 climate talks an agreement on the final draft of the document has been reached. The language in this draft has been more than twenty years in the making and over the course of the last two weeks negotiators have succeeded in hammering out the final wording.

After being translated into the UN's six official languages, the draft was presented to ministers at 5:30 eastern time (10:30 GMT).

Compromise has helped to forge real progress on a range of issues including the important question differentiation. This involves different demands being put on different countries, which boils down to disagreements between rich and poor nations. Another sticking point that appears to have been overcome is unified reporting mechanisms. The US wants uniformity while nations like China and India want a different type of oversight.

As We Near the End of COP21 People are Demanding Climate Action

As COP21 is in its final hours people around the world are waiting with baited breath for the signing of an ambitious agreement. The people have spoken, they want change and they are demanding that their political leaderships deliver.

As reported by Climate Reality Project, on December 10, the day before the scheduled conclusion of COP21, civil society leaders delivered the names of more than 6 million people to UN Secretary General Ban Ki-Moon.