EPA Issues Endangerment Finding for GHG Emissions

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					Enviromation                                                                                                              526

GHGs must be reviewed for new sources that are major for          Australian Carbon Trading Legislation Fails
other pollutants, are proposed at levels between 10,000
and 25,000 tons of CO2e.                                               Australia’s parliament rejected carbon trading legisla-
                                                                  tion on December 2, 2009, thereby sounding the death
     ‘‘By using the power and authority of the [U.S.] Clean       knell of a key climate change policy under Prime Minister
Air Act, we can begin reducing emissions from the nation’s        Kevin Rudd’s government, and potentially triggering an
largest [GHG] emitting facilities without placing an undue        early election in March or April 2010. Acting Prime Minister
burden on the businesses that make up the vast majority of        Julia Gillard has stated that the government would reintro-
our economy’’, said Jackson. ‘‘This is a common sense rule        duce the carbon trading Bills in February 2010 to give the
that is carefully tailored to apply to only the largest sources   opposition Liberal Party one more chance to support the
— those from sectors responsible for nearly 70% of U.S.           scheme. Prime Minister Rudd has repeatedly said he would
[GHG] emissions sources.’’                                        prefer to serve out a full three-year term.

                                                                       Australia’s emissions trading scheme would have been
     If a proposed fuel-economy rule to regulate GHGs
                                                                  the biggest outside Europe, covering 75 per cent of Austra-
from cars and trucks is finalized, and takes effect, as pro-      lian emissions and commencing in July 2011.
posed, in the spring of 2010, permits would automatically
be required for certain large stationary sources emitting
GHGs, because GHGs would become ‘‘regulated’’ pollu-
tants under the Clean Air Act. The proposed rule focuses                 BUSINESS ENVIRONMENT
these permitting programs on the largest facilities. EPA esti-
mates that 400 new sources and modifications to existing
sources would be subject to review each year for GHG
emissions. In total, approximately 14,000 sources would           World Bank Green Bonds
need to obtain operating permits that include GHG emis-
sions, although most of these facilities are expected to               The World Bank (the International Bank for Reconstruc-
already be subject to permitting requirements due to their        tion and Development, IBRD), in partnership with SEB, one
emissions of other regulated pollutants.                          of Sweden’s leading commercial banks, and several key
                                                                  Scandinavian institutional investors, has launched a ‘‘World
     EPA is also requesting public comment on its previous        Bank Green Bond’’ to raise funds for climate change mitiga-
interpretation of when certain pollutants, including GHGs,        tion projects. The bond is an example of the innovative
would be covered under the permi
Description: In a groundbreaking move, the EPA determined on December 7, 2009 that emissions of GHGs contribute to air pollution that endangers public health and welfare within the meaning of the U.S.
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