cap-and-trade
New York Adopts Cap and Trade
Yes, the new NY law includes some bans on natural gas. That’s far from all it does.
Last week, New York Gov. Kathy Hochul signed major climate legislation. Press coverage focused on one small piece of the legislation: a partial ban on natural gas use in new buildings. That’s controversial and easily grasped by the public. But a much bigger part of the new law went almost unnoticed: the legislature’s endorsement of …
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CONTINUE READINGCap and Trade Heats Up—For Better or Worse
Prices are high and markets are proliferating as program designers lean away from the more controversial elements of carbon trading.
This past year has been big for cap-and-trade-style systems, and that momentum looks like it’s continuing in 2023. Recently, we’ve seen new programs start up in Oregon and Washington, a proposal in New York State for new carbon markets, and sustained high prices in existing programs in California and the Northeast. Although these programs differ …
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CONTINUE READINGTaking A Data-Driven Tour of Air Pollution Law
After Half a Century, What Do We Really Know about the Impacts of the Clean Air Act?
Earlier this year, a team of economists published a retrospective paper on the Clean Air Act. It surveys the economic literature to find out what the data tells us about emission trading systems, the effects of pollutants, and effects of imposing tougher regulatory requirements in areas that failed to meet national air quality standards. Some …
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CONTINUE READINGWashington State Ups Its Climate Game
After much travail, the state has finally put a price on carbon.
The Washington state legislature passed a historic climate change bill on April 24. The bill requires a 95% cut in carbon emissions by 2050. After much travail, the state has finally managed to put a price on carbon by adopting a cap-and-trade system. With the decision of additional states to join the east coast RGGI …
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CONTINUE READINGCourt Rejects Trump Administration’s Cap-and-Trade Lawsuit Against California
Federal Government’s Constitutional Challenge to California’s Linked GHG Reduction Plan Fails
Since President Trump took office in early 2017, the State of California has filed over 70 different lawsuits challenging the Trump Administration’s policy initiatives on multiple fronts, including the environment, immigration policy and health care. Over 40 of California’s lawsuits have targeted the Administration’s efforts to roll back longstanding federal environmental protection, natural resource management …
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CONTINUE READINGNew California Report on State Climate Policies Released
Independent Emissions Market Advisory Committee Recommends Focus on Transportation, Affordability, Allowance Banking, Allowance Supply and the Effects of Overlapping Policies in the Regional Electricity Market
The California Independent Emissions Market Advisory Committee released its annual report yesterday making recommendations about California climate policy. I serve as the Vice Chair of the committee and as the Speaker of the Assembly’s appointee. Our report makes five recommendations: that the state focus on the affordability of its carbon policies, with special concern about …
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CONTINUE READINGLooking Into USDOJ’s Lawsuit To Dismantle the California-Quebec Greenhouse Gas Cap-and-Trade Linkage Program
While DOJ Says It “Didn’t Consult With The White House,” There Are Clues the Case Is Politically-Motivated
My colleagues Ann Carlson and Cara Horowitz wrote last week about the Trump administration Department of Justice’s lawsuit against the California Air Resources Board, the Western Climate Initiative, and various California-based officials of both, claiming California is unlawfully trying to engage in foreign policy through its greenhouse gas cap-and-trade program’s linkage with Quebec. There appear …
CONTINUE READINGIs Trump’s California Climate Tantrum Bad Politics?
Here’s hoping so
Apparently it hasn’t been enough for the Trump Administration to roll back federal climate pollution standards for cars and power plants, announce its intent to withdraw from the Paris Agreement, promote coal usage even in the face of contrary market forces, and embrace expanded oil and gas drilling on public lands. As my colleague Ann …
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CONTINUE READINGWhat Do Dems Think about Climate Policy?
The candidates are united on some issues, but divided or equivocal on others.
Yesterday, the Washington Post published a survey of the Democratic candidates’ positions on climate change. The differences between candidates probably don’t have a lot of immediate policy relevance, given the political and legal constraints on what a new president could accomplish. But they are very revealing about the direction of the Democratic Party today. The …
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CONTINUE READINGA Global Standard for a Global Problem
Emmett Institute Submits Comment in Support of CARB’s Proposed Tropical Forest Standard
The Emmett Institute submitted a comment to the California Air Resources Board (CARB) yesterday in support of its proposed Tropical Forest Standard (“Standard”). If approved, this Standard would provide CARB a set of criteria to follow when determining whether to trade tropical forest offsets between California’s Cap and Trade Program and a foreign emissions trading …
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