Abby L. Harvey
GHG Monitor
5/29/2015
The United States could feasibly achieve much deeper emission reductions if the Environmental Protection Agency were to increase the stringency of its carbon emissions standards for existing coal-fired power plants, according to a report released this week by the World Resources Institute. The report addresses the U.S. goal of reducing greenhouse gas emissions 26-28 percent below 2005 levels by 2025. “While our analysis shows that the Clean Power Plan does not need to be strengthened in order to reduce economy-wide emissions by 26 percent below 2005 levels in 2025 (as long as ambitious action is taken across other emission sources), doing so would enable the United States to more easily achieve the upper range of its 2025 target and achieve deeper reductions beyond the 2025–30 time frame,” the report says, suggesting that a reduction of up to 52 percent below 2005 levels is achievable by 2030.
The report suggests the proposed regulation, which would require states to develop action plans to meet federally set emissions reduction goals, could be made more stringent and that the stringency of the regulation should continue to be adjusted in the future. “As technological innovation continues and renewable energy costs continue to decline going forward, EPA should revisit these targets periodically … to ensure that each state’s standard continues to reflect the full scope of opportunities in this sector,” the report says.
Carbon Price Necessary Long-Term
In order for the United States to achieve continued reductions post-2025, legislative action, likely in the form of a carbon price or cap-and-trade program will be necessary, according to WRI. “We find that climate legislation—together with targeted complementary policies across the economy—can reduce U.S. GHG emissions 40–42 percent below 2005 levels in 2030 and 50–53 percent in 2040. Reductions of this magnitude would require greater action from the power sector than is likely possible using existing laws,” the report says. “New legislation could establish a carbon price through a tax mechanism or a cap-and-trade program while a flexible national clean energy standard could effectively put a price on carbon in the power sector.”
