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Northeast US puts on the carbon cap
For the first time, a carbon market is opening for business in the United States. The long awaited Regional Greenhouse Gas Initiative (RGGI), takes effect on January 1, 2009. Utilities in ten states—Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont—will be required to purchase carbon emission rights or find themselves unable to operate.
The RGGI, known as Reggie, dates to 2003. New York`s then-governor, George Pataki, invited neighboring states to participate in a regional cap-and-trade system. At the time, the European ... |
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Donor nations pledge over US$6.1bn to climate investment funds
Leading industrialized nations have pledged more than US$6.1 billion to the Climate Investment Funds, a pair of international investment instruments designed to provide interim, scaled-up funding to help developing countries in their efforts to mitigate increases in greenhouse gas (GHG) emissions and adapt to climate change. Meeting at the World Bank in Washington, representatives of 10 countries (Australia, France, Germany, Japan, The Netherlands, Norway, Sweden, Switzerland, the United Kingdom, and the United States) emphasized their support for the Climate Investment Funds, formally approved ... |
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