Regional Carbon Markets May Partner
The regional carbon markets in the U.S. may join forces before the launch of a federal greenhouse gas legislation, reported Reuters. New national climate legislation could cut greenhouse gas emissions 20 percent from 2005 levels by 2020, and establish a cap-and-trade system for carbon dioxide and national standards for renewable energy.
Peter Iwanowicz, the head of New York’s climate change office, said at a recent Carbon TradeEx conference that the Regional Greenhouse Gas Initiative (RGGI) could link over time with cap-and-trade carbon markets developing in the West, known as the Western Climate Initiative, and in the Midwest, reported Reuters. He also told Reuters that RGGI is looking into expanding regulation of carbon emissions in sectors beyond power generation.
RGGI has been in a leader in showing carbon markets how to auction carbon permits to industry, rather than giving them away — a policy that helped create a surplus of permits in Europe’s carbon market, according to Reuters. RGGI recently raised more than $117 million at an auction of more than 33 million carbon allowances.
Energy Manager News
- Clauses to Consider in Green Leases
- Bahama Yacht Club to Generate Power from Solid Waste
- Duke Energy, USF Launch Solar Battery Research Initiative
- Energy Storage Helps Hotel Reduce Demand Charges by 10%
- EU Smart Campus Pilot Achieves 30% Energy Savings
- Uline to Operate 130 GenDrive Fuel Cell Units from Plug Power
- Los Angeles Shopping Center Installs 504 kW Solar
- SustainCo Wins $575,000 Contract for Energy Management Controls