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Canada targets cutting GHGs 30% below 2005 levels by 2030; new regulations for oil and gas, power, petrochemicals

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Canada Environment Minister Leona Aglukkaq announced that Canada plans to reduce its greenhouse gas (GHG) emissions by 30% below 2005 levels by 2030. Canada formally submitted its target, referred to as an Intended Nationally Determined Contribution (INDC), to the United Nations Framework Convention on Climate Change.

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EPA proposes rule for nationwide 30% cut in GHG from existing power plants by 2030 relative to 2005

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The US Environmental Protection Agency (EPA) released the already widely-discussed (albeit without much detail) “Clean Power Plan” proposal, which mandates a national average 30% cut in greenhouse gas emissions from existing power plants from 2005 levels by 2030. EPA is only proposing goals for states with fossil fuel-fired power plants.

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Perspective: The Role of Offsets in Climate Change Legislation

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This article shows that including offsets in climate change legislation would likely make an emissions program more cost-effective by: (a) providing an incentive for non-regulated sources to generate emission reductions; and (b) expanding emission compliance opportunities for regulated entities. Assuming the offset is legitimate—i.e.,

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Devil in the Details: World Leaders Scramble To Salvage and Shape Copenhagens UNFCCC Climate Summit

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At issue is the 2012 expiration of the Kyoto Protocol, a binding but effectively unenforceable 1997 treaty that had set greenhouse gas (GHG) emission reduction targets for 40 industrialized countries, referred to as Annex 1 countries, yielding an average GHG reduction of 5.2% Climate Change And The IPCC Fourth Assessment Report.

Climate 236
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EIA reports a 3.9% increase in US energy-related carbon dioxide emissions in 2010

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However, emissions are still 6% below the 2005 level. Consumption of coal, the most carbon-intensive fossil fuel, rose by 6% in 2010 after falling by 12% in 2009. The Reference case in our latest energy outlook projects significantly slower emissions growth over the next decade, averaging 0.2 percent per year.

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Perspective: The UN Approval Process for Carbon Offsets

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Since 2005, when major greenhouse-gas emitters among the Kyoto signatories were issued caps on their emissions and permitted to buy credits to meet those caps, there has been more than $300 billion worth of carbon transactions. Verification of the emission reduction or carbon sequestration is critical in efforts to mitigate climate change.

Carbon 255
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Report from the REFF-Wall Street; Themes in Renewable Energy Finance

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From 2005 until 2007 JP Morgan estimated that close to 60% of the MWs of wind capacity installed in the US were from projects that used tax equity financing. Climate change projects had always had a stronger appeal to international investors than US investors. Modification of EPACT 2005 Title XVII to create Section 1705.

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