October 2, 2013 by California Carbon
Climate Connect News, London: California will have to reduce emissions about three times faster after 2020 in order to meet the 2050 emission reduction target, the Air Resources Board stated in a document that describes the comprehensive range of efforts California must take to reduce GHG emissions. The updated Scoping Plan discussion draft states that the annual emission reduction between 2020 and 2050 should be around 11.4 million metric tons of CO2e compared to the 4.7 million metric tons of CO2e between 2013 and 2020.
California has set a target to reduce 2020 emission levels to 1990 levels and reduce emissions by 80% by 2050 from 1990 levels. While the ARB contended that 2050 is too distant to establish any specific policy initiatives, it noted that a mid-term target is required.
“But 2050 is too distant to form the basis for a credible policy regime for ongoing emission reductions. A midterm target should be established to frame the next suite of emission reduction measures and ensure continued progress toward scientifically based targets. Such a target will also provide greater levels of market certainty in the near term, while allowing the flexibility to review and adjust course based on future technology and market conditions.”
“California needs a 2030 target that is consistent with the level of reduction needed in the developed world to stabilize warming at 2ºC and aligns with targets under consideration elsewhere,” ARB stated in the report.
The report mentions the various medium-term emission reduction targets proposed by developed countries. The EU is considering a 40% emission reduction target by 2030 from 1990 levels; Germany has set an emission reduction target of 55% by 2030 from 1990 levels; and the United States pledged itself to a 42% emission reduction target by 2030 from 2005 levels in support of the Copenhagen Accord.
The report states that similar emission reductions are achievable through the existing clean energy policies in California. If California meets the existing policy goals it could reduce emissions by 2030 in line with achieving the 80% emission reduction goal by 2050.
For more information about this article, mail to: email@example.com
Policy perspective with Jon Costantino: 2008–2018 The post AB 32 Scoping Plan decade in ...
December 11, 2018
Weekly Commentary: Entities are rolling trades as Dec19 volume matches up t...
December 10, 2018
Weekly Commentary: Trades go up to 27 million as front changes over to Dec1...
December 3, 2018
Offset Scorecard: Over 14 million CCO-8s transition to CCO-3s in California...
November 29, 2018
Weekly Commentary: CCA prices decline as secondary market adjusts to auctio...
November 26, 2018