of 38 /38
Online communities by

How to Save a Planet - On a Budget: Hour 1: Carbon Pricing and Cap and Trade

Embed Size (px)



Text of How to Save a Planet - On a Budget: Hour 1: Carbon Pricing and Cap and Trade

  • 1. Online communities by

2. How to Save a Planet On a BudgetBrought to you by#GreenFinance 3. About this WebinarHow you can share: Submit your questions in the GotoWebinar presentation window Follow along and share your thoughts on Twitter at #GreenFinance #GreenFinance 4. About Our ModeratorsGernot Wagner is an economist at the Environmental Defense Fund, where he works on market-based solutions to a wide range of environmental problems. He also teaches energy economics asadjunct faculty at Columbias School of International and Public Affairs, and is the author of But willthe planet notice? How smart economics can save the world.Marc Gunther is a writer and consultant whose focus is business and sustainability. Marc is acontributing editor at FORTUNE magazine, a senior writer at Greenbiz.com, and a leading blogger atThe Energy Collective. Marc is the author or co-author of four books, including Faith and Fortune:How Compassionate Capitalism is Transforming American Business.Jesse Jenkins is Director of Energy and Climate Policy at the Breakthrough Institute, and is a leadingenergy and climate analyst and advocate. Jesses work and analysis has been featured in manymedia outlets, and he is recently the co-author of Bridging the Clean Energy Valleys of Death:Helping American Entrepreneurs Meet the Nations Energy Innovation ImperativeRobin Fray Careyis CEO of Social Media Today, which publishes The Energy Collective, SustainableCities Collective, and eight other B2B social communities that connect leading thinkers with otherprofessionals and business influencers. Robin co-founded the company in 2007 and is a veteran ofthe print media world. #TECLive #GreenFinance 5. How to Save a Planet On a BudgetHour 1 (9:15 10:15 EST): Paying the Cost of Carbon: A Conversation aboutCarbon Pricing Can Carbon Markets Drive Green Innovation? Brought to you by #GreenFinance 6. About Our SpeakersJanet Peace is the VP of Markets and Business Strategy at the Center for Climate and EnergySolutions, managing the Centers engagement with corporate community, its economics program andits analysis of market-based policy options. Previously, Dr. Peace held the same role at the Pew Centeron Global Climate, C2ESs predecessor organization. Dr. Peace holds an M.S. and Ph.D. in Economicsand an undergraduate degree in Geology.Lee Thiessenworks for the British Columbia Ministry of Environment as the Executive Director ofClimate Policy in the Climate Action Secretariat. This Secretariat is responsible for developing andcoordinating policy, and its implementation, across the BC provincial government. The policy is aimedat helping the province progress towards its greenhouse gas targets and adapting to the impacts ofclimate change.Lucas Merrill Brown is a Rhodes Scholar at Oxford who researches consumer behavior aroundcleantech adoption. He has worked as a research intern for climate change economics forEnvironmental Defense Fund, as Regional Field Director for Virginia Congressman Tom Perriello, as abudget aide for D.C. Mayor Adrian Fenty, and as a programmer for ILoveMountains.org.Gernot Wagner, moderating,is an economist at the Environmental Defense Fund, where he works onmarket-based solutions to a wide range of environmental problems. He also teaches energyeconomics as adjunct faculty at Columbias School of International and Public Affairs, and is theauthor of But will the planet notice? How smart economics can save the world. #TECLive#GreenFinance 7. Paying the Cost of CarbonJanet Peace November 30, 2011 8. Emitting GHG Is Typically Free 9. Climate Change Has A Cost 10. is the pointto make the cost of emitting carbon explicit, so that it becomes part of the everyday decision making process. Accounting For CostThe point is to make thecost of emitting carbonexplicit so that decisionsand investments factor inthis cost 11. Policy Options Command and Control (direct regulation) Subsidies Cap-and-Trade Carbon Tax Cap and Dividend Clean Energy StandardAll with multiple variations. Cap-and-trade and Tax are the two most often market based policies discussed 12. The Basics 13. Comparing C-T and Tax Simplicity Emission Reductions Cost Cost Effective Market Risk Technology and Innovation 14. For More Informationwww.C2ES.orgJanet PeaceCenter for Climate and Energy Solutions(formerly the Pew Center on Global Climate Change) [email protected] 15. Carbon Tax inCLIMATE ACTION IN British ColumbiaBRITISH COLUMBIANovember 30, 2011 www.livesmartbc.ca www.livesmartbc.ca 16. Carbon Tax Objectives and Features Tax objective is to reduce provincial GHGemissions via financial incentive All carbon tax revenue is recycled through taxreductions Tax rate started low and increases gradually 2008: $10/T CO2e 2012: $30/T Tax has the broadest possible base, given data Tax is one of various other climate measures 16 17. Broader Actions: BCs ClimateAction Plan Provincial-wide approach to adapt toimpacts, reduce emissions, and promotelow-carbon economy Legislated targets BC Adaptation Strategy Revenue neutral carbon tax Western Climate Initiative Industry GHG reporting Carbon Neutral Government 2010 Local governments GHG targets LiveSmart BC housing incentives Green Building Code Renewable and Low Carbon Fuel standards Landfill gas collection standards 17 18. BCs GHG Targets and Distribution by Sector07 Baseline 68MTInterim2012 64MT (-6%) B.C. Greenhouse Gas Emissions - 2009Total: Approx. 66 800 kilotonnes COeResidential OtherInterim201656MT (-18%)and IndustryCommercial 19% 11% Agriculture Legislated 3%202046 MT (-33%)Waste 6% Electricity2% Transportation Net 35%Deforestation 5%Fossil FuelProduction 19%2050 Legislated 14MT (-80%)18 19. BCs Revenue Neutral Carbon Tax Applies $30 per tonne of CO2e in 2012 tocombustion of fossil fuel Non-combustion GHG emissions not covered BC has tailored tax benefits to balance costsTax covers ~70% of emissions$1.5 billionOther$1.2 billion $226 Personal income tax cuts Process, $182 Low income tax creditventing etc.$85 Northern and RuralFossil FuelCombust.Homeowner Benefit$1,001 Business tax cuts*Projected totalrevenue andCarbon tax Tax reductions* reductions for fiscalrevenues* 2012/13 19 20. Selected Carbon Tax Rates by Fuel TypeFuelUnits Tax Rate Tax Rate Current BC2011 Tax as2011 2012 MarketPercent of($25/T ($30/T Price (ex MarketCO2e)CO2e)carbon tax) PriceGasolineLitre $0.06$0.07$1.25 5%DieselLitre $0.07$0.08$1.35 5%Natural gas Gigajoule $1.24$1.49$8.50 15%Thermal Tonne $44.30 $53.16 >$100