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Posts Tagged ‘Greenhouse Gas Reduction’

PODESTA, GORDON, HENDRICKS & GOLDSTEIN, Center for American Progress, September 21, 2009

ctr-4-american-progressWith unemployment at 9.5%, and oil and energy price volatility driving businesses into the ground, we cannot afford to wait any longer. It is time for a legislative debate over a comprehensive clean energy investment plan. We need far more than cap and trade alone.

The United States is having the wrong public debate about global warming. We are asking important questions about pollution caps and timetables, carbon markets and allocations, but we have lost sight of our principal objective: building a robust and prosperous clean energy economy. This is a fundamentally affirmative agenda, rather than a restrictive one. Moving beyond pollution from fossil fuels will involve exciting work, new opportunities, new products and innovation, and stronger communities. Our current national discussion about constraints, limits, and the costs of transition misses the real excitement in this proposition. It is as if, on the cusp of an Internet and telecommunications revolution, debate centered only on the cost of fiber optic cable. We are missing the big picture here.

Let’s be clear: Solving global warming means investment. Retooling the energy systems that fuel our economy will involve rebuilding our nation’s infrastructure. We will create millions of middle-class jobs along the way, revitalize our manufacturing sector, increase American competitiveness, reduce our dependence on oil, and boost technological innovation. These investments in the foundation of our economy can also provide an opportunity for more broadly shared prosperity through better training, stronger local economies, and new career ladders into the middle class. Reducing greenhouse gas pollution is critical to solving global warming, but it is only one part of the work ahead. Building a robust economy that grows more vibrant as we move beyond the Carbon Age is the greater and more inspiring challenge.

Reducing greenhouse gas emissions to avert dangerous global warming is a moral challenge, but it is also an economic, national security, social, and environmental imperative. The “cap and trade” provisions, which will set limits on pollution and create a market for emissions reductions that will ultimately drive down the cost of renewable energy and fuel, represent a very important first step and a major component in the mix of policies that will help build the coming low-carbon economy. But limiting emissions and establishing a price on pollution is not the goal in itself, and we will fall short if that is all we set out to do. Rather, cap and trade is one key step to reach the broader goal of catalyzing the transformation to an efficient and sustainable low-carbon economy. With unemployment at 9.5%, and oil and energy price volatility driving businesses into the ground, we cannot afford to wait any longer. It is time for a legislative debate over a comprehensive clean energy investment plan. We need far more than cap and trade alone.

This is not just an exercise in rhetoric. Articulating and elevating a comprehensive plan to invest in clean energy systems and more efficient energy use will affect policy development and the politics surrounding legislation now moving through the Senate, as well as international negotiations underway around the globe. The current debate, which splits the issue into the two buckets of “cap and trade” and “complementary policies,” has missed the comprehensive nature of the challenge and its solutions. It also emphasizes the challenge of pollution control instead of organizing policy for increased development, market growth, reinvestment in infrastructure, and job creation through the transition to a more prosperous, clean energy economy.

This paper lays out the framework for just such an investment-driven energy policy, the pieces of which work together to level the playing field for clean energy and drive a transformation of the economy. Importantly, many elements of this positive clean-energy investment framework are already codified within existing legislation such as the American Clean Energy and Security Act, passed by House of Representatives earlier this year. But with all the attention given to limiting carbon, too little attention has been placed on what will replace it. These critical pieces of America’s clean energy strategy should be elevated in the policy agenda and political debate as we move forward into the Senate, and used to help move legislation forward that advances a proactive investment and economic revitalization strategy for the nation.

Read the full report here.

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Ken Salazar, U.S. Secretary of the Interior, July 26, 2009

Ken SalazarJust north of the Colorado-New Mexico border, in the sunny expanses of my native San Luis Valley, America’s clean energy future is taking root.

Under President Obama’s leadership, four tracts of land in southern Colorado and two dozen tracts across six Western states may soon be supplying American homes with clean, renewable electricity from the first large-scale solar power projects on our nation’s public lands.

The 24 Solar Energy Study Areas that Interior is evaluating for environmentally appropriate solar energy development could generate nearly 100,000 megawatts of solar electricity, enough to power more than 29 million American homes.

The West’s vast solar energy potential – along with wind, geothermal and other renewables – can power our economy with affordable energy, create thousands of new jobs and reduce the carbon emissions that are warming our planet.

As President Obama has said, we can remain the world’s largest importer of oil or we can become the world’s largest exporter of clean energy. The choice is clear, and the economic opportunities too great to miss. Will we rise to the challenge?

It is time that Washington step up to the plate, just as states like Colorado and local governments are already doing. Congress must pass strong and effective legislation that will steer our nation toward a clean energy economy that creates new jobs and improves our energy security.

We will not fully unleash the potential of the clean energy economy unless Congress puts an upper limit on the emissions of heat-trapping gases that are damaging our environment. Doing so will level the playing field for new technologies by allowing the market to put a price on carbon, and will trigger massive investment in renewable energy projects across the country.

We are also seeing the dangerous consequences of climate change: longer and hotter fire seasons, reduced snow packs, rising sea levels and declines of wildlife. Farmers, ranchers, municipalities and other water users in Colorado and across the West are facing the possibility of a grim future in which there is less water to go around.

But with comprehensive clean energy legislation from Congress, sound policies and wise management of our nation’s lands and oceans, we can change the equation.

That is why I am changing how the federal government does business on the 20% of the nation’s land mass and 1.75 billion acres of the Outer Continental Shelf that we oversee. We are now managing these lands not just for balanced oil, natural gas, and coal development, but also – for the first time ever – to allow environmentally responsible renewable energy projects that can help power President Obama’s vision for our clean energy future.

American business is responding to these new opportunities. Companies are investing in wind farms off the Atlantic seacoast, solar facilities in the Southwest and geothermal energy projects throughout the West. We need comprehensive legislation that will create new jobs, promote investment in a new generation of energy technology, break our dependence on foreign oil, and reduce greenhouse gas emissions.

Let us rise to the energy challenges of our time.

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MendoCoastCurrent, December 14, 2008

kevinruddAustralian Prime Minister Kevin Rudd called for a “solar revolution” on Sunday as he unveiled plans to bring forward a A$500 million (US$329 million) fund promoting renewable energy in a bid to stimulate the economy.

Speaking just a day before a key announcement on Australia’s greenhouse gas emissions targets, Rudd said the fund’s timescale would be brought forward from the original six-year plan to the next 18 months.

“It’s good for jobs. It’s good for stimulus. It’s good for acting on climate change,” Rudd said of the move. “It’s time for Australia to begin a solar revolution, a renewable energy revolution and we’ve got to fund it for the future.”

Rudd made the announcement at the Queensland town of Windorah, where a new solar energy plant is expected to produce around 360,000 kilowatt hours of electricity per year and provide the town’s daytime power needs.

The prime minister said A$100 million would be released by June 30 next year, with the remaining A$400 million to be released in the following 12 months.

The only condition, he said in an accompanying statement, was “availability of suitable demonstration projects.” Guidelines would be released early in 2009, the statement said.

The Renewable Energy Fund, which also includes work on biofuels development and geothermal drilling, was set up to help cut the cost of developing technologies that might play a key role in energy supply and security over the next few decades.

The fund was an election commitment by the ruling Labor party in last year’s election, in which Rudd defeated conservative predecessor John Howard. During the campaign Rudd set a target that 20% of Australia’s energy should be from renewable sources by 2020.

A key ‘white paper’ policy document is due on Monday setting out Australia’s official targets for emissions cuts and plans for carbon trading. Australia is widely expected to adopt a target of a 10% cut from 2000 levels by 2020.

Although Rudd has been applauded by environmentalists for his decision for Australia to join the Kyoto protocol, they also say Canberra’s actions on reducing greenhouse gas emissions have so far been inadequate.

(A$1=US$0.66)

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GLOBE-Net, November 28, 2008

congressFive leading U.S. corporations – Nike, Starbucks, Levi Strauss, Sun Microsystems, and Timberland – have teamed up with the Ceres investor coalition to lobby the U.S. Congress for stronger climate and energy legislation.

These founding members of Business for Innovative Climate & Energy Policy, BICEP, are urging for government action to ensure future climate change issues do not impact the currently struggling economy further.

“These companies have a clear message for next year’s Congress: move quickly on climate change to kick-start a transition to a prosperous clean energy economy fueled by green jobs,” says Mindy S. Lubber, president of Ceres.

The global corporations that make up BICEP say that without aggressive government involvement, the move towards a green economy will be arduous and the effects on companies will be devastating.

“Large-scale climate change would have economic, social and environmental consequences for our business and the communities in which we operate,” says Hilary Krane, senior vice president of corporate affairs at Levi Strauss & Co. “We can voluntarily change our own behavior in the hopes of mitigating impacts and are doing so, but we also believe that U.S. government leadership is essential if we are to create an environment in which every U.S. company recognizes the role it must play in addressing climate change and the responsibilities associated with doing business in a carbon-constrained world.”

The coalition members agree that voluntary company efforts to reduce their environmental impact will not be enough to reap the overall benefits and security of a green economy.

“Climate change is a threat to any business that relies on an agricultural product like we do with coffee,” said Ben Packard, Starbucks vice president, global responsibility. “Starbucks believes that addressing climate change will help companies like ours reduce operating costs and mitigate future economic instability due to extreme weather conditions and agricultural loss.”

BICEP’s work will focus on working with members of the business community and with Congress to pass meaningful energy and climate change legislation consistent with the following eight core principles:

1. Set greenhouse gas (GHG) reduction targets to at least 25% below 1990 levels by 2020 and 80% below 1990 levels by 2050.

2. Establish an economy-wide cap-and-trade system that auctions 100% of carbon pollution allowances, promotes energy efficiency and accelerates clean energy technologies.

3. Establish aggressive energy efficiency policies to achieve at least a doubling of the rate of energy efficiency improvement.

4. Encourage transportation for a clean energy economy by promoting fuel-efficient vehicles, plug-in electric hybrids, low-carbon fuels, and transit-oriented development.

5. Increase investment in energy efficiency, renewables, and carbon capture and storage technologies while eliminating subsidies for fossil-fuel industries.

6. Stimulate job growth through investment in climate-based solutions, especially “green-collar” jobs in low-income communities and others vulnerable to climate change’s economic impact.

7. Adopt a national renewables portfolio standard requiring 20% of electricity to be generated from renewable energy sources by 2020, and 30% by 2030.

8. Limit construction of new coal-fired power plants to those that capture and store carbon emissions, create incentives for carbon capture technology on new and existing plants, and phase out existing coal-based power plants that do not capture and store carbon by 2030.

The members of BICEP are not the only ones flexing their muscle on Capitol Hill. In September, Google and General Electric announced a joint effort to lobby Washington on policies that support alternative energy technologies.

Ceres is a coalition of investors, environmental groups and other public interest groups working with companies to address sustainability challenges such as global climate change.

BICEP members believe that climate change impacts will ripple across all sectors of the economy and that new business perspectives are needed to provide a full spectrum of viewpoints for solving the climate and energy challenges facing the United States.

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DAVID R. BAKER, The San Francisco Chronicle, February 12, 2008

NEW YORK – US carbon asset manager Natsource LLC said on Monday it has invested in the first forest-based greenhouse gas emissions reductions under California rules.

Natsource paid a private owner of a redwood forest in Humboldt County represented by nonprofit group the Pacific Forest Trust for credits representing 60,000 tonnes of carbon emissions.

The company declined to say how much it paid for the credits, but a source familiar with the deal said Natsource bought the credits for “well below” $10 per tonne.

Trees soak up the main greenhouse gas carbon dioxide as they grow, and release it when they rot or are burned.

Carbon market developers like Natsource say they can encourage land owners to make forests grow and absorb more carbon by paying them to take actions that wouldn’t have happened otherwise, like slowing deforestation and harvesting timber more carefully.

The United States does not regulate greenhouse gases, but several states like California and 10 others in the Northeast are creating carbon markets of their own.

In voluntary carbon deals, payments are swapped for carbon credits that investors store in hopes the United States regulates greenhouse gases in the future, which would likely push up prices for the credits.

“From our point of view this is a statement and an investment,” Jack Cogen said in a telephone interview. “We are confident we are going to make money on this over time.”

Cogen said forestry will likely be included in a future greenhouse regulatory regime in the United States and in a global emissions deal.

Voluntary deals hold risk, however, because it can’t be known whether any future US regulatory regime would give credit to early actions, or whether prices would rise significantly in regional markets that are forming.

As global forests are lost to agriculture and urban sprawl, land owners around the world are increasingly looking to generate credits for saving trees. A UN climate conference in Bali late last year agreed to launch pilot projects to grant developing countries credits for slowing deforestation under a new long-term climate pact beyond 2012.

Natsource and PFT said the deal was the first under rules adopted last year by the California Air Resources Board (CARB) which set governmental accounting standards for emissions reductions through slowing deforestation.

Opponents of generating carbon credits for protecting trees say it is hard to prove that land owners would not have slowed harvesting on their own.

But Laurie Wayburn, the president of PFT, said the deal will save emissions by paying land owners to let the forest grow back more fully from the last time it was harvested and that the state’s rules ensure the reductions will be verified.

Eventually that should lead to bigger forests that will grow in value, she said.

“The additional revenue stream allows forest owners to take a long-term harvesting strategy rather than a short-term strategy,” she said.

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