NEW YORK — Global carbon dioxide emissions offseting markets are fast losing their luster in the minds of investors, both in the United States and abroad.
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From the category archives:
USA
If reports are to be believed, the US still holds the dubious distinction of being the world’s largest emitter of carbon dioxide (CO2) emissions.
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March 9 (Bloomberg) — President Barack Obama should give up on legislation that sets greenhouse gas limits and support a bill that boosts renewable electricity generation and U.S. oil and gas production, Senator Lisa Murkowski said.
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Lisa Jackson, head of the Environment Protection Agency (EPA), yesterday launched a robust defence of the watchdog’s right to regulate carbon emissions, warning that far from protecting jobs, efforts to reverse the agency’s regulatory powers would damage the economy.
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March 10 (Bloomberg) — Carbon dioxide permits to be auctioned today in the U.S. Northeast might attract a record low price amid curbed energy demand and falling trading volumes in the regional emissions market.
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March 15 (Bloomberg) — The Obama administration might pursue a carbon-trading system under existing law if Congress doesn’t pass cap-and-trade legislation that allows companies to buy and sell the right to pollute, a U.S. Environmental Protection Agency official said today.
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If you want to know how much carbon dioxide Americans emit into the atmosphere, it’s not enough to look just at the gases that pour from our smokestacks and tailpipes. We also import goods that were made in factories that produced carbon dioxide. In fact, a new study finds that worldwide, about a quarter of emissions are actually the result of imported and exported goods and services.
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The effort of Senators John Kerry (D-Mass.), Lindsey Graham (R-S.C.), and Joe Lieberman (I-Conn.) to craft comprehensive clean energy legislation that caps global warming pollution has brought some positive words from Big Oil and their political allies. In particular, the senators are considering a proposal by ConocoPhillips, BP America, and Exxon Mobil to exclude petroleum producers and refiners from a carbon market and instead levy a carbon fee. “Once you have oil people saying, ‘We can live with this, this was our idea,’ then hopefully everybody else begins to look at this thing anew,” Graham told reporters. “That’s the hope.” However, the American Petroleum Institute’s Jack Gerard explained that the “support” from the oil industry for a carbon fee on petroleum will come in the form of “signs at the gas pump letting people know they’re paying more because of U.S. efforts to deal with climate change”:
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The Utah Senate on Monday refused to support a voluntary greenhouse gas reduction market that one senator said could help municipalities and service districts make money by reducing pollution.
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Lisa Jackson, who heads the Environmental Protection Agency, went to the National Press Club today to make the Obama administration’s case that environmental regulation, such as reducing carbon emissions, would be good for the economy.
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In my blog last week on the attack campaigns against the Low Carbon Fuel Standard (LCFS), an innovative policy tool for reducing the global warming pollution in our fuels, I wrote about the Consumer Energy Alliance (CEA) and its affiliated “organizations.” While it portrays itself as a consumer organization, it is in reality a front group run by a lobby group and backed by the American Petroleum Institute, the U.S. Chamber of Commerce, and other titans of the status quo, bent on keeping America addicted to oil. And not just any oil but the dirtiest oil on the planet.
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(Reuters) — U.S. energy reform has stalled now that the Democrats have lost their filibuster-proof majority in the Senate and Republicans drift to a more negative position, a top industry executive said on Saturday.
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March 8 (Bloomberg) — The Obama administration has no plans to set up a “cap-and-trade” program for greenhouse gases under existing law if Congress doesn’t pass legislation doing so, the head of the U.S. Environmental Protection Agency said.
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Early in February, the U.S. Securities and Exchange Commission released “Commission Guidance Regarding Disclosure Related to Climate Change,” Release Nos. 33-9106; 34-61369; FR-82.
There is much debate regarding whether this “interpretive guidance” adds any new disclosure requirements or simply reiterates what companies are already supposed to disclose about material risks associated with the effects of climate change under broad language of existing rules. The SEC says that the “interpretive guidance” does not create any new obligations.
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Chicago data center provider Steadfast Networks has purchased carbon credits from a non-profit environmentalist organization in February, offsetting about 127 tons of CO2 emissions. Contribution to Carbonfund.org is part of the company’s wider initiative to reduce the company’s direct or related carbon footprint.
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