GHG Monitor
6/12/2015
ON THE INTERNATIONAL FRONT
Leaders of the G7 group of nations this week released a declaration committing to limiting global temperature rise to 2°C in part by decarbonizing the global economy by 2100. “We commit to doing our part to achieve a low-carbon global economy in the long-term including developing and deploying innovative technologies striving for a transformation of the energy sectors by 2050 and invite all countries to join us in this endeavor. To this end we also commit to develop long term national low-carbon strategies,” the declaration states. The document also voices support for the development of a post-Kyoto climate protocol to be developed at the 21st conference of the parties of the U.N. Framework Convention on Climate Change in December.
IN CONGRESS
Sens. Sheldon Whitehouse (D-R.I) and Brian Shatz (D-Hawaii) this week introduced the “American Opportunity Carbon Fee Act of 2015,” which would set a fee on carbon dioxide emissions. The fee would start at $45 per ton of carbon dioxide emitted starting in 2016 and increase 2 percent each year until emissions fall to 80 percent below 2005 levels. At that time the annual adjustment would fall to inflation. Funds collected through the fee would be used to lower the top marginal corporate income tax rate from 35 percent to 29 percent, provide workers with a $500 refundable tax credit, give benefits to Social Security recipients, veterans’ program beneficiaries, and certain other groups of retirees and establish a block grant for states to help meet low-income needs, rural households and transitional workers.
IN DOE
Peter Davidson, executive director of the Energy Department’s Loan Programs Office, will be leaving the Department at the end of the month, according to a message Secretary of Energy Ernest Moniz sent to employees this week. Davidson has served in his current role since May 2013 and will be replaced by Mark McCall, a managing director and the chief financial officer at Lime Rock Partners, a private equity firm focused on the upstream oil and gas sector. “Under Peter’s leadership, LPO restarted its loan activities and many of the projects in its more than $30 billion portfolio began operation and commenced loan repayment and LPO is now recognized as a leader in the financing of clean energy," Moniz said.
