1 / 11

Climate Legislation and Markets: Regional Outlook

Climate Legislation and Markets: Regional Outlook. Focus: Agriculture. Agriculture and Carbon Markets: Making Carbon Count June 17, 2010. Jessica Shipley Solutions Fellow Pew Center on Global Climate Change. Pew Center on Global Climate Change. Founded May 1998

dasan
Download Presentation

Climate Legislation and Markets: Regional Outlook

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Climate Legislation and Markets: Regional Outlook Focus: Agriculture • Agriculture and Carbon Markets: Making Carbon Count • June 17, 2010 Jessica Shipley Solutions Fellow Pew Center on Global Climate Change

  2. Pew Center on Global Climate Change • Founded May 1998 • Independent, non-profit, non-partisan • Produces research on policy, economics, science & impacts, and solutions • Works with policymakers at state, federal, and international levels • Conducts education and outreach • Engages the business community through the Business Environmental Leadership Council

  3. Overview: Legislation and Markets • Regional Greenhouse Gas Initiative (RGGI) • Midwestern Greenhouse Gas Reduction Accord (MGGRA) • Western Climate Initiative (WCI)

  4. RGGI: Offsets and Agriculture • Program design on offsets: • 3.3% of compliance obligation • No offset credits yet used for compliance • 5 project types • Must be located in a RGGI participating or MOU state • Additionality: standards-based approach with benchmarks • Eligibility of credits for federal program • Projects likely to qualify with current bill language

  5. Midwestern Accord: Offsets and Agriculture • Design recommendations on offsets: • Limited to 20% of facilities’ compliance obligation • Project types, sizes, start dates, etc. still TBD • Likely to be limited to Accord states • Additionality, monitoring, and certification undefined • Eligibility of credits for federal program • MGGRA recommends that jurisdictions ensure that offsets issued under the Accord are recognized by a federal program.

  6. WCI: Offsets and Agriculture • Design recommendations on offsets: • With other allowances, limited to 49% of total reductions • Priority project types for investigation: • Agriculture • Forestry • Waste management • Criteria: real, permanent, additional, verifiable • States may issue offsets for outside projects

  7. Three Regions Initiative • WCI, RGGI, and MGGRA • Collaborating on linking, offsets, and LCFS • Joint offsets white paper: released May 19 • Commitment to ensuring offsets are real, additional, verifiable, permanent, enforceable • Based on uniform standards.  • Recommendations for standards is next step • LCFS working group • Discussing many issues, e.g. land use change

  8. Other Market Opportunities • Reducing demand for fossil fuel… Boosts demand for bio-based and farm-based energy • Biopower • On-farm wind generation • Power from captured methane (sold back to the grid) • Biofuels • Implementation of most effective policies happening at state and regional levels

  9. Agriculture and climate legislation • Pew analyzing issues for a forthcoming paper • Key Takeaways • Regional programs important but other options ongoing • Business-driven (e.g. Walmart sustainability) • EPA • Litigation • Legislative cost containment tools minimize impact • Net economic gain for farmers is possible • Climate change poses many risk management concerns

  10. Conclusion • Regional policies and markets continue to provide opportunities for agriculture • Regional offset markets will likely remain smaller than a federal system • Uncertainty still exists for farmers; federal legislation could provide some certainty

  11. More information www.pewclimate.org Jessica Shipley shipleyj@pewclimate.org

More Related