Solving the Climate Crisis:
Carbon Pricing 101
Policy and Legislation
Dr. Linda Dismore (Diz) Swift
© http://PriceonCarbon.org
Policy and Legislative Actions
Global
Multi-national
National
Regional
State and MegaCity
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National – State – Regional - MegaCity
Figure from World Bank report, 2014
Update 2015
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Carbon Pricing Schemes
12%
Carbon Pricing Schemes
10%
Share of Global Carbon Emissions Covered
8%
Includes 38 carbon pricing schemes across the
globe at national, regional, and mega-city scale.
The largest current contributor is the EU’s ETS.
6%
Does not include China’s 2017 cap and trade –
which will account for an additional 21% of global
emissions
4%
2%
0%
1990
1995
2000
2005
2010
2015
Figure from World Bank Advance Brief for 2015
15-16
114
th
13-14
113th
11-12
112
th
09-10
111th
07-08
110
5th IPCC Assessment
4th IPCC Assessment
1st IPCC Assessment
Carbon Tax/Fee
Cap and Trade
th
05-06
109th
03-04
108th
01-01
107th
99-00
106th
97-98
105th
95-96
104th
93-94
103rd
91-92
102nd
89-90
9
8
7
6
5
4
3
2
1
0
101st
Number of Bills Proposed
U.S. Congress Bill History
Congress year
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U.S. Congress Bill History
7
6
Senate:
Bi-partisan Attempt
Lieberman [D-CT] McCain [R-AZ]
Four bills (cap and trade)
5
4
House:
3
Gilchrist [R-MD-1]
Three bills (cap and trade)
2
1
Carbon Tax/Fee
Cap and Trade
15-16
114th
13-14
113
th
11-12
th
112
09-10
th
111
07-08
th
110
05-06
109th
03-04
0
108th
Number of Bills Proposed
8
Congress year
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U.S. Congress Bill History
111th Congress
7
6
Eleven bills + nine related
5
H.R. 2454
4
Waxman [D-CA-30), Markey [D-MA-7]
• Cap and Trade
• Passed House
• Significant compromises
3
2
1
Carbon Tax/Fee
Cap and Trade
15-16
114th
13-14
113
th
11-12
th
112
09-10
th
111
07-08
th
110
05-06
109th
03-04
0
108th
Number of Bills Proposed
8
Congress year
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U.S. Congress Bill History
Carbon Tax Dominates
7
6
5
4
3
2
1
Carbon Tax/Fee
Cap and Trade
15-16
114th
13-14
113
th
11-12
th
112
09-10
th
111
07-08
th
110
05-06
109th
03-04
0
108th
Number of Bills Proposed
8
Congress year
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U.S. Congress Bill History
Opposition – mostly “riders”
7
6
5
4
3
2
1
Carbon Tax/Fee
Cap and Trade
15-16
114th
13-14
113
th
11-12
th
112
09-10
th
111
07-08
th
110
05-06
109th
03-04
0
108th
Number of Bills Proposed
8
Congress year
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114th Congress – Slender Hope
Not much difference
Carbon Tax
Rep. Huffman, Jared [D-CA-2]
Rep. Delaney, John K. [D-MD-6]
Sen. Whitehouse, Sheldon [D-RI]
Rep. McDermott, Jim [D-WA-7]
Aid in transition, reduce corp. income tax
Reduce corp. income tax, tax credits to workers, etc.
Dividends to taxpayers
Cap and Trade
Rep. Van Hollen, Chris [D-MD-8]
Dividends in equal amounts to residents with SSN
The Best Chance is at State Level
ALBERTA
MANITOBA
ONTARIO
BRITISH
COLUMBIA
WASHINGTON
OREGON
CALIFORNIA
QUEBEC
RGGI
MEXICO
Figure from World Bank report, 2014
Updated 2015
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The Best Chance is at State Level
Regional Greenhouse
Gas Initiative (RGGI)
• Cap and trade
• Nine NE US states
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The Best Chance is at State Level
Cap and Trade
Combined trading
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The Best Chance is at State Level
British Columbia
• Carbon tax ($28 US)
• Revenue neutral
• Emissions reduced
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The Best Chance is at State Level
States Considering
•
•
•
•
•
•
Washington
Oregon
New York
Rhode Island
Massachusetts
Vermont
RGGI
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SOLVING THE CLIMATE CRISIS:
CARBON PRICING 101
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