Earth Equity News

Midwest Cap-and-Trade Program Facing Delays in Getting State Approvals. By Evan Lehmann, ClimateWire, February 19, 2010. "The ambitious plan to confront carbon pollution in the Midwest is facing delays, raising concerns that the multistate cap-and-trade program won't launch on schedule in 2012. The Midwestern Greenhouse Gas Reduction Accord is an aggressive framework that would reduce emissions up to 20% in six states and one Canadian province, stripping carbon from far-flung sources like transportation, power plants, paper mills and other industrial tenants. But potential for a slowdown is looming before the accord goes before individual legislatures for approval. Some states, like Minnesota, Illinois and others, are unlikely to take up controversial climate policy this year because of approaching gubernatorial elections and stubborn economic difficulties, according to sources. Moreover, the economic modeling meant to showcase the effects of the cap-and-trade program on state families and economies is still incomplete, further slowing the process... The Midwestern accord is one of three regional plans that aim to cap greenhouse gas emissions as a way to pressure Congress into addressing climate change nationally. The accord rivals the Western Climate Initiative [also check WCI] for having some of the most aggressive carbon abatement policies anywhere. Both systems are scheduled to begin capping emissions in January 2012 through a financial market that charges fees for releasing carbon dioxide into the atmosphere... The more modest third program, the Regional Greenhouse Gas Initiative [RGGI], is already cutting carbon output from 233 utilities along the East Coast. It does not regulate a wide range of industries like its emerging counterparts, but is considered a success by many for administering the first involuntary carbon market in the country."