Cap-and-Trade

News & Analysis as of

Double Whammy for State Fuel Suppliers

The California Air Resources Board (CARB) is poised to readopt the Low-Carbon Fuel Standard (LCFS) regulation in early 2015. With its readoption, CARB hopes to put to rest challenges that required a redo of the environmental...more

I’m Still a Cockeyed Optimist When It Comes to Climate Change

Last week, NRG Energy announced plans to reduce CO2 emissions 50% by 2030 and 90% by 2050. And this reduction is not from a 1990 or 2005 baseline; it is from 2014 emissions. NRG’s statement indicated that it had already...more

Beveridge & Diamond Secures Favorable CARB Determination in Offset Investigation for U.S.’s Largest GHG Offsets Provider

Attorneys in Beveridge & Diamond’s San Francisco office recently helped the largest developer of greenhouse gas (GHG) offset credits in the U.S., Environmental Credit Corp. (ECC), secure a favorable determination from the...more

CARB Invalidates Offsets for Facility's Alleged RCRA Noncompliance

On November 14, 2014, the California Air Resources Board (CARB) released a final determination invalidating almost 89,000 previously-issued offset credits due to CARB’s conclusion that the facility at issue failed to comply...more

News Flash: Cap-and-Trade Remains the Most Efficient Way to Reduce Emissions

Notwithstanding Congressional gridlock on climate change legislation, cap-and-trade remains the tried and true efficient method for reducing air emissions. Although the acid rain provisions of the Clean Air Act are the most...more

Outstanding Design Flaws in California’s Cap-and-Trade Program

On January 1, 2013, California embarked on a grand experiment with the launch of the world’s most complex cap-and-trade program. Under this program, companies operating in California, such as food processors, power producers...more

CARB’s Invalidation of Offset Credits Highlights Importance of Risk Allocation

On October 8, 2014, the California Air Resources Board (CARB) issued a preliminary determination invalidating more than 230,000 offset credits on grounds that an Arkansas-based chlorofluorocarbons (CFCs) incinerator was not...more

California Air Resources Board-Commissioned Report Recommends Ways to Avoid Price Volatility in California’s Cap and Trade Market

Concerned about the potential for price volatility in its cap and trade program, the California Air Resources Board (CARB) commissioned the Market Simulation Group (MSG) at the University of California Energy Institute to...more

California Environmental Law and Policy Update - July 2014 #2

Environmental and Policy Focus: House holds hearing on proposed ‘Waters of the United States’ rule - Association of California Water Agencies - Jul 9: The House Science, Space, and Technology Committee held a hearing...more

California Environmental Law and Policy Update - July 2014

Environmental and Policy Focus - Second leg of California bullet-train line approved: SFGate.com - Jun 27: On June 27, 2014, the U.S. Department of Transportation gave its approval for work to begin on the second leg...more

Is RGGI in New Jersey's and Pennsylvania’s Future?

With the release of EPA’s proposed regulation of CO2 from existing sources on June 2, there has been a lot of speculation that states will look to cap-and-trade schemes as a means of complying with EPA’s mandate that the...more

Is RGGI in Pennsylvania’s Future?

Cap and trade may play a major role in the U.S. Environmental Protection Agency’s (EPA) recent proposal to cut carbon dioxide emissions from existing fossil-fueled electric generating facilities. On June 2, 2014, EPA issued a...more

Green Banks: Financing Tomorrow’s Clean Energy Projects

In February 2014, lawyers from Latham & Watkins participated in the inaugural Green Bank Academy held in Washington, D.C. State energy and finance officials from across the US attended the Academy to discuss the role of green...more

The U.S. Supreme Court Upholds EPA’s Cross-State Air Pollution Rule in EPA v. EME Homer City Generation, L.P., Paving the Way to...

On April 24, the Supreme Court issued a 6-2 decision in EPA v. EME Homer City Generation, L.P., No. 12-1182, 572 U. S. ____, 2014 WL 1672044 (2014), upholding EPA’s latest version of a regional cap-and-trade program under the...more

The Regional Greenhouse Gas Initiative: Will It Survive Federal Regulation of Greenhouse Gases?

At the same time that leaders from the nine states comprising the Regional Greenhouse Gas Initiative (RGGI) are touting the anticipated benefits of their decision to significantly reduce RGGI’s cap on carbon dioxide emissions...more

California Environmental Law and Policy Update - January 2014

Gov. Brown wants to use cap-and-trade fees to fund high speed rail project - Insurance For Less - Jan 8: Gov. Jerry Brown announced plans to provide new funding for California’s high speed rail project from corporate...more

EPA Reissues Greenhouse Gas Emission Standards for New Power Plants

The U.S. Environmental Protection Agency (EPA) has re-proposed greenhouse gas (GHG) emission standards for new fossil-fuel power plants, exercising existing authority under section 111(b) of the Clean Air Act. Proposed rule...more

Court Upholds Auction of Allowances Under California Cap-­and-­Trade Program

On November 12, 2013, a California trial court decided that the California Air Resources Board (ARB) has the power to auction emission allowances and that such auctions do not constitute an illegal ...more

Court Upholds Auction of Allowances Under California Cap-and-Trade Program

The decision, which will almost certainly be appealed, allows the Air Resources Board tocontinue to auction emission allowances. On November 12, 2013, a California trial court decided that the California Air Resources...more

Energy Law Alert: California Cap and Trade Auctions Upheld as Constitutional

The Sacramento Superior Court has upheld the constitutionality of California Air Resources Board's ("ARB") cap and trade auctions in the related cases California Chamber of Commerce v. ARB and Morning Star Packing Company v....more

California’s Cap-and-Trade Auction Is Not a Tax: Court Decides “Close Question”

In a twin set of wins for the state, two lawsuits challenging California’s flagship cap-and-trade auction system first implemented in November 2012 were rejected by Sacramento Superior Court Judge Timothy Frawley this...more

Aviation: European Commission proposes to amend the EU Emissions Trading Scheme (“ETS”) to limit its applicability to the European...

The European Commission has recently modified its proposed roll-out of a cap-and-trade scheme affecting international aviation. On 16 October 2013, the European Commission introduced a proposal for a Directive amending...more

Three West Coast States Join with British Columbia in Regional Climate Pact

On October 28, 2013, the states of California, Oregon, and Washington joined with the Canadian province of British Columbia to sign a regional agreement that promises to coordinate long-term climate policy, including the...more

Carbon Repeal – Unveiled

Draft legislation, published on 15 October 2013, sets out the Coalition's plans to repeal the Clean Energy Act 2011 (Cth) and associated Acts (Carbon Acts) with effect from 30 June 2014. The impact being that liable entities'...more

CARB Releases Draft Update of Climate Change Scoping Plan

The California Air Resources Board (CARB) has released a discussion draft of the First Update of California’s Climate Change Scoping Plan for public review and comment....more

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