Adaptation: An Essential, but Lagging, Part of Global Warming Policy

What does the Republic of Vanuatu, an island nation in the South Pacific, have in common with the state of California? Whether the former’s inundation, brought on by Cyclone Pam in March, was exacerbated by sea-level rise or whether the latter’s prolonged drought might, similarly, be an early harbinger of global warming—each case dashes the […]

Low Allowance Prices in the EU Emissions Trading System: New Research on an Evolving Program

The EU Emissions Trading System (ETS) for carbon dioxide (CO2) is the largest worldwide. Since its inception in 2005, it has experienced allowance price volatility and low overall prices. Generally, the fact that it costs less than anticipated to reduce CO2 emissions would be good news. Instead, these price dynamics are bad news for many […]

Congress Doesn’t Have Veto Power Over the Clean Power Plan

Last week, during testimony by EPA Administrator Gina McCarthy, Senate Majority Leader Mitch McConnell raised a new argument against EPA’s Clean Power Plan (CPP), claiming §102(c) of the Clean Air Act gives Congress the authority to veto EPA’s planned regulation. Since EPA’s authority comes from Congress, this provision—if the Senator is reading it correctly—would claw […]

Significant, Widespread Health Benefits Possible under EPA’s Clean Power Plan

Politics is typically about the here and now. And so shaping policy to address climate change poses a particularly difficult challenge. The benefits appear to be dispersed globally and accrue decades into the future, while the costs of reducing greenhouse gas emissions would be felt immediately. Or so the story goes. The problem with this narrative […]

Investment Risks Raise Costs and Shift Regional Efforts to Mitigate Emissions

A new study appearing in Nature Climate Change (of which I am a coauthor) explores how institutional considerations of risk affect the cost of large-scale investments in the power sector that increase or reduce carbon dioxide emissions. Unlike previous studies that assume uniform costs for investments, we apply financial charges that vary from country to […]

Coordination Challenges and a Policy Option for US and Global Climate Efforts

In recent years, US climate plans have changed abruptly. In a new RFF discussion paper, with RFF Center Fellow Anthony Paul and Research Assistant Sophie Pan, we examine the challenges for progress—specifically, of coordination among jurisdictions—that presently face policymakers in both the United States and around the world. The current centerpiece of US policy is […]

Understanding President Obama’s Arctic Development Plans

The landscape in the Arctic is changing, and in more ways than just ice cover. Over the last month, the Obama administration has made a number of significant announcements on Arctic policy. Leaving aside the one that has elicited the strongest response—the wilderness designation for the Arctic National Wildlife Refuge—a presidential memo directed the Department […]

EPA’s Methane Announcement: Connecting Some Dots

EPA issued a long-awaited statement today on its intentions to reduce methane emissions from the oil and gas extraction, processing and transmission sectors 40-45 percent of 2012 emissions by 2025. While EPA had begun to tackle emissions from new wells, and plans to continue down this road in the future (albeit by regulating methane directly […]

Resources Magazine: A Financial Approach to Environmental Risk

When we talk about risk in the financial world, we are typically referring to an asset or portfolio whose price may decrease down the road. Even though risk implies a level of uncertainty, we are able to model and measure the risks associated with these assets. One of the typical ways we do this is […]

Treatment of New Natural Gas under the Clean Power Plan

This is the tenth in a series of questions that highlights RFF’s Expert Forum on EPA’s Clean Power Plan. Readers are invited to submit their own comments to the questions and/or the responses using the “Leave a Comment” box below. See all of the questions to date here. RFF asks the experts: Should EPA modify how it […]