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Australian emissions set to soar: new report shows carbontax was working | Climate Citizen
Australian emissions set to soar: new report shows carbontax was working | Climate Citizen.
Just two days before Christmas Federal Environment Minister Greg Hunt released the National Greenhouse Gas Inventory June quarter update report which shows that Labor’s Carbon pricing, abolished in July 2014, was being highly effective at reducing emissions, especially from the electricity generating sector.
The Abbott Government wants to bury this story, hence it’s release right before Christmas. Carbon tax abolition was, after all, Prime Minister Tony Abbott’s greatest achievement as Minister for Women, as we were told.
Despite the timing, there was mainstream coverage by the Sydney Morning Herald and in the Guardian, but the details are easily forgotten in the pre-christmas activity and celebrations by most people.
Reading the Latest data in the National Greenhouse Gas Inventory indicates that in the 2013-2014 year to June 2014 (when the carbon tax was in force) greenhouse gas emissions for the energy – electricity sector were reduced by 4 per cent compared to 2012-2013. The rate of reduction had also accelerated from the previous year.
Polluting Is Getting Expensive in Europe Again: Carbon & Climate – Bloomberg
Polluting Is Getting Expensive in Europe Again: Carbon & Climate – Bloomberg.
The surge in European carbon permit prices may just be beginning.
The price of emission rights will rise 62 percent by June 30, according to the median of 16 trader and analyst estimates compiled by Bloomberg. UBS Group AG says costs may more than double in 2015. Carbon already jumped 44 percent this year, while the 22-member Bloomberg Commodities Index (BCOM) slid 14 percent.
The 28-nation European Union is tightening supply in the 40 billion-euro ($50 billion) emissions market after a glut caused prices to collapse to levels that don’t deter the burning of coal, the most polluting fuel, data compiled by Bloomberg show. Lawmakers want to spur more growth in renewable energy through the first permanent changes to the 10-year-old system.
“Because most governments selling allowances have a vested interest in higher prices, it will happen,” Louis Redshaw, a former head of carbon at Barclays Plc and founder of Redshaw Advisors Ltd., which buys and sells permits on behalf of factories, said Dec. 16 in London. “Painful” price swings are probable, he said.
George Shultz, Reagan’s Secretary Of State, On Climate Change: “The Potential Results Are Catastrophic” | DeSmogBlog
George Shultz, who served as President Ronald Reagan’s Secretary of State from 1982 to 1989, is not only willing to buck the Republican Party’s orthodoxy on global warming by acknowledging climate science, he’s outright calling for action. And he’s even willing to walk the talk.
Shultz, a former University of Chicago economics professor and president of Bechtel, has installed solar panels on his house and drives an electric car around the Stanford University campus, where he’s a distinguished fellow at the Hoover Institution on War, Revolution, and Peace.
According to Bloomberg, Shultz’s climate awakening came when a retired Navy admiral showed him time-lapse footage of disappearing Arctic sea ice and “explained the implications for global stability.”
“The potential results are catastrophic,” Shultz says to his fellow Republicans. “So let’s take out an insurance policy.”
Shultz, who supports a tax on fossil fuels that would be used to pay “carbon dividend checks” to US citizens, was part of a bipartisan group that produced a report earlier this year on the economic risks of global warming called “Risky Business.” In commenting on the report, he spelled out what he means by calling for a climate change “insurance policy” a little more clearly:
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Lessons from B.C.’s carbon tax | Blog Posts | Pembina Institute
Lessons from B.C.’s carbon tax | Blog Posts | Pembina Institute.
It’s been hailed as an environmental and economic “success,” a “textbook case” in carbon pricing and “on the right track” toward good economic policy. British Columbia’s carbon tax has been in place for six years, and all available evidence shows it’s working.
Here’s the big news: per capita fuel use covered by the tax has dropped by 16 per cent in the province relative to 2008 (the year the carbon tax came into effect), and so too has carbon pollution. That’s good for the environment. Meantime, B.C.’s economy has outpaced the rest of Canada’s over the same period. That’s great for jobs and the economy.
Our new backgrounder summarizes B.C.’s terrific success with its carbon tax. The economic, environmental and social lessons are worth reflecting upon — both in B.C. and in jurisdictions considering similar carbon pricing approaches, as what we see in B.C. is a leading example of how to price carbon effectively.
…click on the above link to read the rest of the article…
