California has enacted two new laws on corporate disclosure of direct and indirect greenhouse gas (GHG) emissions and climate-related financial risks. Senate Bill (SB) 253, the Climate Corporate Data Accountability Act, expands state GHG emissions reporting requirements to large U.S. companies doing business in California. SB 261 requires biennial disclosure of climate-related financial risks.Continue Reading California’s New Climate-Related Disclosure Laws
Greenhouse Gas
What You Need to Know about the Proposed Revisions to Cap and Trade
By Allison Smith on
Late Tuesday, the California Air Resources Board (ARB) released draft amendments to the state’s cap and trade regulation, including revisions to the current program in place through 2020, an extension of the program through 2030, and setting the stage for continued emissions reductions under the program through 2050. ARB’s proposed amendments come in the middle of a recent milieu of uncertainty: pending litigation challenging the legality of the existing program, an opinion from Legislative Counsel that ARB lacks authority under AB 32 to continue cap and trade past 2020, unprecedented weak demand at the most recent allowance auction, and legislation to establish a statutory emissions reductions mandate for 2030 still in process this session. With all of these balls in the air, ARB has doubled down and drafted regulations dropping the program’s emissions cap from 334.2 million metric tons (MMT) of CO2e in 2020 to 200.5 MMT in 2030, with major elements of the cap and trade regulation continuing in effect past 2020 to achieve the emissions reductions.
Continue Reading What You Need to Know about the Proposed Revisions to Cap and Trade
Status of Oil and Gas-related Bills Proposed in California’s 2015-2016 Legislative Session
By Mike Mills & Kimberly Hellwig on
Posted in Oil and Gas
February 27, 2015 was the deadline for lawmakers to introduce legislation to the 2015-2016 California Legislative Session and several bills related to oil and gas activities were introduced. Below is a summary of those bills. Stoel Rives is monitoring these bills and will provide periodic updates as the bills move through the legislative process.
SENATE BILLS
SB-13 (Pavley): Groundwater
This bill would specify that the State Water Resources Control Board is authorized to designate a high- or medium-priority basin as a probationary basin. This bill would provide a local agency or groundwater sustainability agency 90 or 180 days, as prescribed, to remedy certain deficiencies that caused the board to designate the basin as a probationary basin. This bill would authorize the State Water Resources Control Board to develop an interim plan for certain probationary basins one year after the designation of the basin as a probationary basin.Continue Reading Status of Oil and Gas-related Bills Proposed in California’s 2015-2016 Legislative Session
U.S. Supreme Court Curtails EPA’s Power to Regulate Greenhouse Gases under Clean Air Act
By Allison Smith on
Posted in Air Quality
This morning, the U.S. Supreme Court issued a surprising decision in Utility Air Regulatory Group v. Environmental Protection Agency on the U.S. Environmental Protection Agency’s (EPA) authority to regulate greenhouse gases under the Clean Air Act (CAA). The Supreme Court has held that EPA cannot regulate stationary sources under the CAA Prevention of Significant…
EPA Unveils Sweeping New CO2 Rules
By Allison Smith on
Posted in Energy
The world continues to shift for the energy sector in California. On Monday, U.S. EPA Administrator Gina McCarthy announced the highly anticipated proposed CO2 standards for existing power plants in the U.S. The proposed rules would affect existing power plants undertaking changes, as well as those not contemplating any modifications. What’s more, states can meet the proposed standards through implementation of…
President Obama Releases Climate Action Plan
By Allison Smith on
Posted in Energy
Today President Obama unveiled his Climate Action Plan, designed to cut greenhouse gas emissions in the U.S., prepare the U.S. for the effects of climate change, and lead international efforts to address global climate change. For details of the Climate Action Plan and the President’s speech on the Plan at Georgetown University, see our blog post at…
New Lawsuit Challenges California’s Cap and Trade Auctions
By Allison Smith on
Posted in Air Quality
The California Air Resources Board (CARB) is facing another legal challenge to its cap and trade program – Morning Star Packing Co. v. California Air Resources Board (Sacramento Superior Court case no. 34-2013-80001464, filed April 16, 2013). A coalition of twelve companies, trade associations, and individuals filed the new lawsuit on Tuesday, challenging the legality…
California Air Resources Board Issues Results of Quarterly Cap and Trade Allowance Auction
By Allison Smith on
Posted in Air Quality, Energy
On February 19, 2013, the California Air Resources Board held its second auction of greenhouse gas (GHG) emission allowances for its Cap and Trade Program. This was the first quarterly auction for 2013; the first auction was held November 14, 2012. All ‘covered entities’ – GHG emitters regulated under Cap and Trade – were…
D.C. Circuit Upholds EPA Greenhouse Gas Rules
By Allison Smith on
Posted in Air Quality, Energy
Yesterday, the D.C. Circuit Court of Appeals issued a decision in Coalition for Responsible Regulation v. EPA, upholding the U.S. Environmental Protection Agency’s approach to the regulation of greenhouse gas (GHG) emissions against claims from a variety of interests. The opinion addressed challenges to three EPA rulemakings: (1) the agency’s “Endangerment Finding,” where it…
Cap-and-Trade Regulation Passed by CARB
By Lee Smith on
On October 20, 2011 the California Air Resources Control Board (CARB) passed the cap-and-trade regulation that was called for the in the AB32 Scoping Plan. The main focus of the regulation is to establish a program that allocates a certain allowance of greenhouse gas emissions to the industry based on certain calculations. Those emissions…
San Joaquin Valley Carbon Credits/CEQA Offset Rule
By Lee Smith on
The San Joaquin Valley Air Pollution Central District (SJVAPCD) has released a Final Draft Staff Report and proposed rule revising Rule 2301 that concerns the banking of greenhouse gas (GHG) reductions.
The rule amends the SJVUAPCD’s existing offset banking Rule 2301 and would allow entities to bank GHG credits generated by protocols issued by California…