Long war meld3/15/2023 ![]() ![]() was offering another reminder of how a divided electorate and the checks and balances of government can lead to policy paralysis. Commodity Insights forecasts indicate that China’s plans and directives will achieve their goal of peaking country-level GHG emissions by 2030. ![]() Since the Russian invasion of Ukraine, the EU has sought to meld its ambitious “Fit for 55” decarbonization goals for 2030 with the need to address near-term concerns around energy security and a lasting cutback of Russian fossil fuel imports. falling far short of its aggressive 2030 Paris Agreement targets. SPGI Commodities Insights forecasts were indicating the U.S. EPA decision closed that door further -limiting regulatory options to set climate policy absent “clear congressional authorization” or legislative intent. In July 2022, the US Supreme Court’s West Virginia vs. But those regulations needed to withstand legal challenges -and in 2016, the Supreme Court stayed the Obama Administration’s ambitious Clean Power Plan for decarbonizing the power sector. Recognizing the challenges of passing climate legislation, the Obama Administration tried to make progress via a regulatory approach. It never made it further.īy the end of 2009, many major economies, including the U.S., had agreed to the Copenhagen Accord and essentially the entire world has since agreed to the Paris Agreement. House of Representatives by a very slim margin and included a framework to drive change through subsidies, renewable electricity standards, and an economy-wide carbon cap and trade system. In June 2009, the Waxman Markey Bill passed the U.S. Back in 2008-2009, negotiators were working to replace the expiring Kyoto Protocol, Europe adopted a major climate and energy package to achieve emissions, renewable and energy efficiency targets and Barack Obama had been elected president with expectations of climate action. ![]() Thirteen years is a long time in the climate policy world - but that is how long advocates of climate action have been waiting for another chance at implementing sweeping federal legislation to address U.S. ![]()
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