California's Ambitious Greenhouse Gas Policies

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Total Pages : 0 pages
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Book Synopsis California's Ambitious Greenhouse Gas Policies by : Kenneth C. Johnson

Download or read book California's Ambitious Greenhouse Gas Policies written by Kenneth C. Johnson and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract- California's Cap-and-Trade system cannot achieve the “maximum technologically feasible and cost-effective greenhouse gas emissions reductions” required by statute because the emissions reduction target (the cap) is itself predetermined by statute.- Cap-and-Trade disincentivizes complementary and independent carbon-reduction actions in capped sectors by nullifying their environmental benefits (the “waterbed effect”).- In contrast to Cap-and-Trade, an effective regulatory policy would empower individuals, businesses, communities, and municipalities to influence the scale and pace of decarbonization through their collective actions and investment choices.California's landmark AB 32 legislation, enacted in 2006, tasked the California Air Resources Board (CARB) with (1) ensuring that statewide greenhouse gas emissions in 2020 would not exceed the 1990 level, and (2) achieving the “maximum technologically feasible and cost-effective reductions in greenhouse gas emissions”. CARB adopted a caps-and-standards regulatory framework, which interpreted the statutory emissions limit in 2020 as a predetermined “target”, thus rendering the maximum-reduction mandate ineffectual. In its May, 2022 draft Scoping Plan, CARB proposed extending the same framework to implement California's new legislative directive (SB 32) requiring a reduction of statewide emissions by “at least 40 percent” below the 1990 level “no later than” 2030. The plan continues CARB's reliance on Cap-and-Trade, which again establishes the statutory minimum as a “target” and disincentivizes further emissions reductions beyond the target - any such action would simply free up surplus allowances for other emitters to use (the “waterbed effect”). To put California on track toward decarbonization at the scale and pace required for global climate stabilization, the legislature should resolve interpretative ambiguities and contradictions in its statutes and institute a regulatory policy paradigm that gives meaning and effect to the mandate requiring “maximum technologically feasible and cost-effective” emissions reductions.

Implications of Policy Interactions for California's Climate Policy

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Book Synopsis Implications of Policy Interactions for California's Climate Policy by : Todd Schatzki

Download or read book Implications of Policy Interactions for California's Climate Policy written by Todd Schatzki and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: California's Global Warming Solutions Act of 2006 (AB 32) requires that the State lower its greenhouse gas (GHG) emissions to 1990 levels by the year 2020. To achieve this ambitious goal, California's Air Resources Board (ARB) has developed an AB 32 Scoping Plan that includes multiple policies and programs targeting different sectors and energy uses. Although these diverse policies and programs are typically approached and analyzed as if they were independent of one another, in fact, interactions among these policies and between AB 32 policies and federal policies can have very important consequences for environmental effectiveness as well as economic performance. Interactions between policies are most problematic when two conditions occur: first, a state policy creates more stringent requirements that overlap with a “broader” state or federal policy (“overlap criteria”); and, second, the broader federal or state policy provides flexibility to meet requirements through adjustments across sectors or states (“flexible policy criteria”). These flexible policies can include quantity-based policies (such as, cap-and-trade) and policies that average performance (such as, renewable portfolio standards or renewable fuel standards.) In the context of the AB 32 Scoping Plan, two types of interactions pose the greatest concern. The first is the interaction between the GHG cap-and-trade program and other AB 32 policies that regulate sources covered by the cap-and-trade program. For example, emissions from transportation fuel combustion are regulated by both the cap-and-trade program and by the Low Carbon Fuel Standard (LCFS), which mandates reductions in the GHG-intensity of transportation fuels. When state-level policies overlap with cap-and-trade, the complementary policies will generally fail to create any additional emission reductions. With a binding cap-and-trade system in place, aggregate emissions will equal the cap whether or not complementary policies are implemented. While complementary policies may shift emissions among sources or sectors covered by the cap, aggregate emissions will remain unchanged.

Long-term Greenhouse Gas Emissions Mitigation in California and the Associated Regional Air Quality and Public Health Impacts

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ISBN 13 :
Total Pages : 183 pages
Book Rating : 4.:/5 (11 download)

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Book Synopsis Long-term Greenhouse Gas Emissions Mitigation in California and the Associated Regional Air Quality and Public Health Impacts by : Tianyang Wang

Download or read book Long-term Greenhouse Gas Emissions Mitigation in California and the Associated Regional Air Quality and Public Health Impacts written by Tianyang Wang and published by . This book was released on 2019 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation we investigate the roadmap for California to achieve deep greenhouse gas (GHG) emissions reductions by 2050 and the resulting regional air quality and public health impacts, form the strategy feasibility and selections that achieves different levels of ambitious climate target, to the benefits and trade-offs of different technology pathways with respect to air quality and public health consequences, as well as the relative contributions of emissions from different origins to regional air quality and public health. We first develop a roadmap for California to achieve net-zero GHG emissions in 2050 using detailed modeling of energy system transformation, cross-sectorial connectivity, and technology applicability. GHG mitigation strategies also reduce co-emitted criteria pollutants in California. By utilizing the Weather Research and Forecasting Model with Chemistry (WRF-Chem) and the Environmental Benefit Mapping and Analysis Program (BenMAP), we find that achieving net-zero GHG emissions can reduce 14,066 (95% Confidence Interval: 10,855 - 17,226) air pollution-related mortality in 2050, 35% of which are in disadvantaged communities. The monetized health co-benefit can offset most of the GHG abatement costs (i.e., 26 -116 billion dollars). These co-benefits are mainly contributed by ambient fine particulate matter (PM2.5) concentration reductions, while ambient ozone (O3) concentration in California is not likely to drop when local emissions reduce. The net-zero target also requires bioenergy with carbon capture and sequestration (BECCS) technology to offset some GHG emissions. BECCS technology, whereas supporting the net-zero target, would emit air pollutants through biomass combustion and reduce health co-benefits by 3 billion dollars, suggesting a potential trade-off between climate benefits and health co-benefits of ambitious climate policies. We then analyze the air quality and health impacts of different GHG mitigation pathways. By adopting an integrated approach that combines energy and emission technology modeling, high-resolution chemical transport simulation, and health impact assessment, we find that achievement of the 80% GHG reduction target would always bring substantial air quality and health co-benefits. But more importantly, the level of co-benefits are highly related to the selected technology pathway largely because of California's relatively clean energy structure. Compared with the business-as-usual levels, a decarbonization pathway that focuses on electrification and clean renewable energy is estimated to reduce concentrations of PM2.5 by 18-37% in four major metropolitan areas of California and subsequently avoid 10,196 (95% CI: 8,169-12,202) premature deaths. In contrast, a pathway focusing more on combustible renewable fuels only results in a quarter of such air quality and health benefits. Similar to what we found before, both GHG mitigation pathways may not reduce ambient O3 concentrations in California. Our findings could also assist the development of optimized technology pathway to simultaneously reduce GHG emissions and improve human health in California. Lastly, we conduct a detailed analysis to understand the relative contributions of local and non-local emission sources to ambient PM2.5 and O3 and evaluate the mortality burden in California associated with these two pollutants. We attribute the ambient PM2.5 and O3 concentrations in California to four emission groups: (1) California in-state anthropogenic emissions; (2) anthropogenic emissions from the western United States, excluding California; (3) natural emissions from the western United States; and (4) all emissions from outside of the western United States. Our health impact analyses find that PM2.5 and O3 are associated with 27,445 [95% Confidence Interval (CI): 19,277 - 35,885] and 13,822 (95% CI: 6,106-23,659) mortalities in California in 2012, respectively. Our estimates of O3-assocoated mortality are much higher than previously reported, mainly because we estimate 6,354 (95% CI 2,224 - 10,268) O3-associated cardiovascular mortality based on new epidemiological evidence. Approximately 67% of PM2.5-associated mortality in California is attributable to PM2.5 from in-state anthropogenic emissions. In contrast, 75% of the ambient O3 in California is contributed by distant emissions outside western United States, leading to 92% of O3-associated mortality, while in-state emissions were found to contribute to a much lesser extent to O3-associated mortality [i.e., 771 (95% CI 389-1,146) in ozone season]. The different patterns of PM2.5 and O3 we found also help explain our previous findings that GHG mitigation efforts in California mainly reduce local PM2.5 pollution.

Facilitating Greenhouse Gas Reduction and Climate Change Adaptation Within the Coastal Zone: A Policy Analysis for the California Coastal Commission

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (114 download)

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Book Synopsis Facilitating Greenhouse Gas Reduction and Climate Change Adaptation Within the Coastal Zone: A Policy Analysis for the California Coastal Commission by : Nicole Young

Download or read book Facilitating Greenhouse Gas Reduction and Climate Change Adaptation Within the Coastal Zone: A Policy Analysis for the California Coastal Commission written by Nicole Young and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: California is already experiencing impacts to its coastline due to climate change, and more severe impacts are anticipated if greenhouse gas emissions continue to rise. These climate change impacts are especially strong within the California coastal zone, which falls under the jurisdiction of the California Coastal Commission. The Commission has a history of rigorous environmental protection and is committed to protecting California's coast through proactive planning and regulation, however they will need to initiate coastal policies with ambitious targets to facilitate effective climate change adaptation and mitigation. This study analyzed existing California climate policies and Coastal Commission policies to identify successes and gaps in the Commission's work on climate change. Key findings include successful state funding mechanisms, energy saving state standards and ambitious state greenhouse gas reduction goals, as well as successful coastal adaptation projects and mechanisms throughout California. Findings also demonstrated a gap in the amount of funding currently available for coastal adaptation. Analysis of the Commission's current climate adaptation policy suggests that the agency should amend their coastal act to reflect current pressing climate issues. To strengthen the Commission's mission of protecting the California coastline, this study recommends that coastal developments obtain RELi resilience certification to ensure that coastal development can react to the shocks and stresses of climate change within the coastal zone. This analysis of policy options to strengthen the Commission's climate policy yielded two alternative recommendations. The first recommends using a market mechanism to facilitate greenhouse gas reduction within the coastal zone, while the other recommends the implementation of a regulatory mandate. Both recommendations offer a suggested framework modeled after current California policy that works to facilitate funding for coastal adaption within the California coastal zone.

Rethinking California's Planning Frameworks to Support SB 375

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ISBN 13 : 9781124025391
Total Pages : pages
Book Rating : 4.0/5 (253 download)

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Book Synopsis Rethinking California's Planning Frameworks to Support SB 375 by : Lauren Michele Hilliard

Download or read book Rethinking California's Planning Frameworks to Support SB 375 written by Lauren Michele Hilliard and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulatory reform addressing travel behavior policies that reduce vehicle-miles-traveled (VMT) and improve transportation network management is needed if California is to reduce the transportation sector's 38 percent contribution to total greenhouse gas emissions (GHG) in the State. This white paper introduces how such policy changes can be used to support California's goals of climate change stability, economic vitality, and communities that encourage healthier lifestyles. Further, it poses essential questions pertaining to regulatory reform for the 3-C issues of consistency, conformity, and concurrency that the State will need to address through actively engaging with multiple stakeholders and other government organizations. The white paper includes an analysis of the theory and practice of California's land use/transportation planning structure, environmental review process, and funding allocation framework by examining local, regional, state, and federal roles in the implementation of key climate change and sustainable transportation laws. Analyzing the Sacramento Area Council of Government's Blueprint-based Metropolitan Transportation Plan under existing State frameworks reveals needed policy reform in order to successfully implement SB 375's "Sustainable Communities Strategies". Without a secure, long-term transit funding source, land use patterns that promote cost-effective and quality transit, statewide pricing mechanisms, and changes to local codes and standards, California's MPOs will not be able to achieve ambitious per capita GHG reductions under SB 375. The paper also finds a need to incorporate federal resource agencies in the development of Regional Transportation Plans, establish statewide GHG thresholds for projects within a regional context, and prioritize network management over capacity enhancing transportation project. Further, it proposes to "decouple" VMT growth from transportation revenue sources by incentivizing local government to reduce VMT and improve network management under a "Low Carbon Transportation Fund" funded by cap-and-trade auction revenues. The State of California is seeing unprecedented challenges and opportunities to create a more flexible and durable funding framework that directly ties new performance metrics to projects and plans. These changes will better reflect the array of values and concerns from Californians as the State struggles to fund an antiquated system that largely does not reflect the 3-E sustainability metrics of the economy, equity, and the environment.

Global Climate Change

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ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Global Climate Change by : California Energy Commission. Technology Evaluation Office

Download or read book Global Climate Change written by California Energy Commission. Technology Evaluation Office and published by . This book was released on 1991 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Aligning California's Transportation Funding with Its Climate Policies

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ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (117 download)

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Book Synopsis Aligning California's Transportation Funding with Its Climate Policies by : Gian-Claudia Sciara

Download or read book Aligning California's Transportation Funding with Its Climate Policies written by Gian-Claudia Sciara and published by . This book was released on 2018 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: California has established itself as a leader in efforts to reduce greenhouse gas (GHG) emissions from transportation. At the same time, the state has not reflected its ambitious policies for GHG reduction and climate action in its practices for allocating state transportation funding. This white paper reviews the complex systems through which California generates and allocates state revenue for transportation investment. It finds that the state's framework for funding transportation is disconnected from its climate goals. The paper also suggests preliminary steps for revising this framework to reinforce GHG reduction goals. Such recommendations are particularly salient given the state's recently completed study of road user charges as an alternative transportation revenue source. Implementation of road charges - or any other new or revised transportation revenue source - would need to address the disposition of revenues generated. The paper argues that California should use any such opportunity to align the distribution of state transportation dollars with its climate objectives, not fall back on status quo allocation practices.

Has California's Cap-and-Trade Caused a Reduction in Greenhouse Gas Emissions: A Firm-Level Analysis

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ISBN 13 :
Total Pages : 222 pages
Book Rating : 4.:/5 (11 download)

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Book Synopsis Has California's Cap-and-Trade Caused a Reduction in Greenhouse Gas Emissions: A Firm-Level Analysis by : Brendan Gerard Timmons

Download or read book Has California's Cap-and-Trade Caused a Reduction in Greenhouse Gas Emissions: A Firm-Level Analysis written by Brendan Gerard Timmons and published by . This book was released on 2019 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: As part of efforts to reduce greenhouse gas emissions, policymakers around the world have implemented or are considering market-based emissions reductions policies like cap-and-trade. In the U.S., the only state with a cap-and-trade program that covers every sector in the economy is California, which has become a global leader in climate policy. Though California's emissions have decreased since the policy was implemented, this decline coincides with other factors, such as the natural gas boom and subsequent drop in natural gas prices, increases in vehicle gas mileage, and the ramping up of renewable portfolio standards. This study seeks to determine if, accounting for these other factors, the decrease in emissions can be attributed to the cap-and-trade program, and if so, how much reduction has come as a result of compliance with the program. I also study whether and how individual facilities comply with the cap. Using panel data for firm-level emissions from the U.S. Environmental Protection Agency and California Air Resources Board and accounting for other factors using data from a variety of U.S. government sources, I find that California's cap-and-trade program is associated with a reduction in firms' emissions. However, my results show that this decline may be at least partially attributed to leakage of emissions from California's climate policy regime to other states. Further study and more detailed data is needed to better understand the relationship between firms' emissions, the cap, and leakage.

Reducing Greenhouse Gases with Emerging Public Policies

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ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (124 download)

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Book Synopsis Reducing Greenhouse Gases with Emerging Public Policies by : Monique Brackett

Download or read book Reducing Greenhouse Gases with Emerging Public Policies written by Monique Brackett and published by . This book was released on 2019 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global warming is an overarching issue worldwide that has caused an increase in extreme weather events and coastal flooding, impacted food security, and created a loss of both biodiversity and unique ecosystems. Certain regions around the world appear to be more proactive in the fight to reverse, or at least contain, the effects of global warming. One such area is California that is currently implementing the Global Warming Solutions Act to minimize the main source of global warming: greenhouse gas emissions. The purpose of this research paper is to assess the effectiveness of programs and resources implemented under the Global Warming Solutions Act to predict its success in reducing emissions to specific levels by 2020, as promised in the Act's framework. The research method will include interviews to collect qualitative data from government agencies implementing programs and/or providing resources related to the Act. Quantitative data will also be collected through surveys administered to students and faculty on the implementation team for the California State University, Northridge Climate Action Plan and also those teaching and studying under its Institute of Stability. Data collected will be used to determine relationships between the policy's programs and resources to assess their effectiveness or ineffectiveness. The results will help predict the overall probability of the Global Warming Solution Act's ability to fulfill its commitment to reduce greenhouse gas levels in California to what they were in 1990, by next year (California Air Resources Board, 2018).

Policy Options for Greenhouse Gas Mitigation in California

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ISBN 13 :
Total Pages : 130 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Policy Options for Greenhouse Gas Mitigation in California by :

Download or read book Policy Options for Greenhouse Gas Mitigation in California written by and published by . This book was released on 2008 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Managing Greenhouse Gas Emissions in California

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ISBN 13 :
Total Pages : 478 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Managing Greenhouse Gas Emissions in California by :

Download or read book Managing Greenhouse Gas Emissions in California written by and published by . This book was released on 2006 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt:

An Assessment of California's Building Energy Regulatory Process and the Marginal Abatement Costs and Greenhouse Gas Reduction Benefits of California Building Energy Standards

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ISBN 13 : 9781658412704
Total Pages : pages
Book Rating : 4.4/5 (127 download)

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Book Synopsis An Assessment of California's Building Energy Regulatory Process and the Marginal Abatement Costs and Greenhouse Gas Reduction Benefits of California Building Energy Standards by : Benjamin William White

Download or read book An Assessment of California's Building Energy Regulatory Process and the Marginal Abatement Costs and Greenhouse Gas Reduction Benefits of California Building Energy Standards written by Benjamin William White and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This research investigates the benefits and costs of California's building energy regulations and provides an analysis of the regulatory process that prompted the adoption and subsequent abandonment of a mandate for Zero Net Energy (ZNE) residential buildings in the state. Specifically examined are the greenhouse gas (GHG) emissions characteristics associated with homes designed using California's definition for ZNE, and homes designed using the states more recently adopted goal of grid compatibility. The work quantifies the GHG emissions of various mixed-fuel and all-electric home designs and compares those results with the emissions characteristics of homes designed under a prior version of the state's building energy regulations (Title 24, Part 6). This research takes a novel approach to estimating residential sector GHG emissions by incorporating three different rates of pre-meter natural gas leaks into the calculations. The results isolate the contribution that these leaks make to building-sector emissions and emphasize the need for regulators and researchers to fully account for the full range of impacts associated with natural gas use. Also quantified are the marginal abatement costs for homes designed under California's adopted 2019 T24 standards versus homes designed under the prior code version. The results indicate that fuel type, and not the attainment of a specific energy measurement metric like ZNE is the primary determining factor for GHG emissions in the housing sector, and that all-electric homes deliver superior GHG reduction benefits at lower cost than mixed-fuel houses. We find that the marginal cost of abatement for housing types varies considerably, with all-electric homes offering the potential for carbon abatement at significantly lower cost than mixed-fuel houses and at a price that is currently lower than California's auction price for carbon emissions. These results indicate that all-electric housing can be a valid approach to GHG emission reduction from the perspective of regulators, homebuyers, and building industry stakeholders. In addition to quantifying the costs and benefits of California's building energy standards, the process that the state undertook in pursuit of the adoption of a ZNE mandate is explored using the Multiple Streams Framework (MSF). This analysis explores the role of ambiguity in policy goal setting and highlights the effects that can occur when policy feedback creates unintended consequences. The results reinforce the concept that the adoption of ambitious policy goals is benefitted by a high level of ambiguity, but that policy goals may need to change as ambiguity recedes. This case study of the California regulatory process for building energy standards provides demonstrable and useful examples for any government or private entity seeking to implement ambitious, long-term change.

Energy Policies to Address Global Climate Change

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ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Energy Policies to Address Global Climate Change by :

Download or read book Energy Policies to Address Global Climate Change written by and published by . This book was released on 1989 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Greenhouse Gas Regulations for the Electricity and Natural Gas Sectors

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ISBN 13 :
Total Pages : 4 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Greenhouse Gas Regulations for the Electricity and Natural Gas Sectors by : California Energy Commission

Download or read book Greenhouse Gas Regulations for the Electricity and Natural Gas Sectors written by California Energy Commission and published by . This book was released on 2008 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Estimating Policy-Driven Greenhouse Gas Emissions Trajectories in California

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Total Pages : pages
Book Rating : 4.:/5 (16 download)

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Book Synopsis Estimating Policy-Driven Greenhouse Gas Emissions Trajectories in California by :

Download or read book Estimating Policy-Driven Greenhouse Gas Emissions Trajectories in California written by and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: A California Greenhouse Gas Inventory Spreadsheet (GHGIS) model was developed to explore the impact of combinations of state policies on state greenhouse gas (GHG) and regional criteria pollutant emissions. The model included representations of all GHG- emitting sectors of the California economy (including those outside the energy sector, such as high global warming potential gases, waste treatment, agriculture and forestry) in varying degrees of detail, and was carefully calibrated using available data and projections from multiple state agencies and other sources. Starting from basic drivers such as population, numbers of households, gross state product, numbers of vehicles, etc., the model calculated energy demands by type (various types of liquid and gaseous hydrocarbon fuels, electricity and hydrogen), and finally calculated emissions of GHGs and three criteria pollutants: reactive organic gases (ROG), nitrogen oxides (NOx), and fine (2.5?m) particulate matter (PM2.5). Calculations were generally statewide, but in some sectors, criteria pollutants were also calculated for two regional air basins: the South Coast Air Basin (SCAB) and the San Joaquin Valley (SJV). Three scenarios were developed that attempt to model: (1) all committed policies, (2) additional, uncommitted policy targets and (3) potential technology and market futures. Each scenario received extensive input from state energy planning agencies, in particular the California Air Resources Board. Results indicate that all three scenarios are able to meet the 2020 statewide GHG targets, and by 2030, statewide GHG emissions range from between 208 and 396 MtCO2/yr. However, none of the scenarios are able to meet the 2050 GHG target of 85 MtCO2/yr, with emissions ranging from 188 to 444 MtCO2/yr, so additional policies will need to be developed for California to meet this stringent future target. A full sensitivity study of major scenario assumptions was also performed. In terms of criteria pollutants, targets were less well-defined, but while all three scenarios were able to make significant reductions in ROG, NOx and PM2.5 both statewide and in the two regional air basins, they may nonetheless fall short of what will be required by future federal standards. Specifically, in Scenario 1, regional NOx emissions are approximately three times the estimated targets for both 2023 and 2032, and in Scenarios 2 and 3, NOx emissions are approximately twice the estimated targets. Further work is required in this area, including detailed regional air quality modeling, in order to determine likely pathways for attaining these stringent targets.

Three Lingering Design Issues Affecting Market Performance in California's GHG Cap-and-Trade Program

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ISBN 13 :
Total Pages : 16 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Three Lingering Design Issues Affecting Market Performance in California's GHG Cap-and-Trade Program by : Todd Schatzki

Download or read book Three Lingering Design Issues Affecting Market Performance in California's GHG Cap-and-Trade Program written by Todd Schatzki and published by . This book was released on 2014 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: California's GHG cap-and-trade program is a key element of policies designed to achieve the goal of the Global Warming Solutions Act of 2006 (AB 32) to reduce GHG emissions to 1990 levels by the year 2020. Throughout the process of implementing its GHG cap-and-trade program, ARB has shown an admirable willingness to continue discussions to refine and improve the program's design. Although the program has now entered its first compliance period and has already undertaken its first allowance auction, there is still opportunity for further refinement of a program that will be in effect through 2020. In this spirit, we recommend that ARB consider modifications to three program elements - the Allowance Reserve, offset programs, and holding limits - that would improve program performance without compromising environmental performance. The cap-and-trade program has important consequences both within and outside California. Within California, design of an effective cap-and-trade program will help to lower the economic cost of meeting AB 32's ambitious emission targets. However, in terms of addressing the climate change problem, California's greatest impact may come not from the actual emission reductions achieved by the state, but by the leadership it provides on climate policy. As other countries and states watch California's policy outcomes, they will draw important lessons about which policies can help achieve policy objectives with limited economic disruption, and whether such commitments should be pursued. By developing policies that achieve environmental goals while minimizing economic risks, California can provide a positive example for other jurisdictions considering similar climate commitments.

1997 Global Climate Change Report

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (429 download)

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Book Synopsis 1997 Global Climate Change Report by :

Download or read book 1997 Global Climate Change Report written by and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: