When Microsoft business unit managers calculate their profits or losses each quarter, they consider more than just sales and expenses. They also factor in the price of carbon. Even more radically, the business units are charged an internal tax by Microsoft based on their energy usage. The money goes into a common fund that invests in environmental sustainability projects. The company’s program is at the forefront of a fast-growing effort called carbon pricing. This year, 437 companies are calculating an internal price on carbon, up sharply from 150 last year, according to a new report by CDP, a nonprofit group that monitors carbon disclosures for companies.
“There will be no more CREZ zones approved by the commission, unless the Legislature directs it,” Anderson said, describing his thinking during an open meeting yesterday. “I think we should even open up a rulemaking to enshrine that.” Anderson offered some qualifications to his remarks, but the tone appeared clear. His general approach was supported by Donna Nelson, who chairs the PUC, and Commissioner Brandy Marty Marquez. The CREZ program often is cited as a key reason Texas is ranked No. 1 for installed U.S. wind capacity, as shown by the American Wind Energy Association.
Six years ago when cap-and-trade legislation was working its way through Congress, its foes warned the emissions scheme would put U.S. industry at a disadvantage because China wouldn’t follow suit. But China has turned the tables, announcing a cap-and-trade plan today for its greenhouse gas emissions while there’s nearly no chance for the United States to do the same.
And the world’s second-largest economy also said it would provide $3.1 billion in climate finance to poor countries, topping the U.S. pledge of $3 billion over four years.
Speaking to a packed hall that included German Chancellor Angela Merkel, as well as Sen. Edward Markey (D-Mass.) sitting next to Samantha Power, the U.S. ambassador to the United Nations, the pope called for a “fundamental and effective” international climate agreement in Paris in December. He also linked the effort to protect the environment directly with alleviating poverty. Referencing his landmark encyclical on the environment, Francis also denounced consumerism and what he called “a culture of waste” that goes hand-in-hand with fueling poverty and destruction of the environment.
Since that time, the Clean Air Act has repeatedly been challenged as costly and unnecessary. As a fight brews over President Obama’s new use of the law to address global warming, it’s worth re-examining the vast difference the law has already made in the quality of the air we breathe, and in the length of our lives.
In a generation or two, offshore wind farms could be as common along the California coast as offshore oil rigs are today. And Morro Bay could be the community where the offshore wind industry gets its start in the Golden State. Trident Winds LLC has approached the city of Morro Bay with a proposal to install about 100 floating turbines 15 miles offshore. It’s a 1,000-megawatt project that would produce enough energy to power 150,000 households. The turbines would rise 360 to 400 feet above sea level, would cover about 63 square miles and would be spaced about half-a-mile apart.
Senate Majority Leader Mitch McConnell (R-Ky.) this afternoon filed a “clean” continuing resolution, after the upper chamber rejected a stopgap funding measure that would have defunded Planned Parenthood. With this afternoon’s failed 52-47 vote on the CR, McConnell demonstrated what he’s been saying for weeks: that Republicans lack the votes in the Senate to block Planned Parenthood from receiving federal funds. Senators today said they anticipate sending the clean version to the House early next week, where conservatives have vowed to oppose any spending measure that funds Planned Parenthood.
President Xi Jinping of China will make a landmark commitment on Friday to start a national program in 2017 that will limit and put a price on greenhouse gas emissions, Obama administration officials said Thursday. The move to create a so-called cap-and-trade system would be a substantial step by the world’s largest polluter to reduce emissions from major industries, including steel, cement, paper and electric power. The announcement, to come during a White House summit meeting with President Obama, is part of an ambitious effort by China and the United States to use their leverage internationally to tackle climate change and to pressure other nations to do the same.
Pope Francis prodded a deeply divided Congress to take “courageous” steps to combat environmental damage, but his calls aren’t likely to spur the entrenched foes of the Obama administration’s green agenda. In his historic speech on Capitol Hill — the first by a pontiff to the U.S. Congress — Francis doubled down on his recent efforts to prompt bold global action to tackle climate change and other environmental problems, citing them as moral issues.
North Carolina lawmakers did not extend the state’s renewable energy tax credit in the budget they passed last week. The tax credit is set to expire at the end of this year. The Senate made revisions to the budget before it was passed, including cutting out a two-year extension of the renewable energy tax credit. The budget is now awaiting the governor’s approval.
The North Carolina Sustainable Energy Association had expressed concerns about that possibility before the budget was passed, saying losing the 35 percent investment tax credit would be squandering “one of our state’s greatest economic opportunities of this decade and the next.”