 Energy & Environment |
Energy & Environment |
|
|
Biden administration issues guidelines on carbon credit integrity |
The Biden administration on Tuesday announced new guidelines for ensuring the integrity of carbon credits or offsets. |
© Alex Wroblewski/Bloomberg via Getty Images |
While the practice of buying carbon offsets or credits is voluntary, the administration says it hopes to help ensure that credits being sold are actually credible. Individuals, businesses and other entities can buy these credits to try to "offset" their emissions as part of an effort to achieve net-zero. This can entail things like paying organizations to plant trees or prevent them from being cut down. But, markets for carbon credits have been plagued by issues including double counting. Questions have also been raised in some markets that preserve trees about whether they would have been cut down otherwise or how long they will be protected. The guidelines issued by the Biden administration say that these credits should represent actual and additional reductions in carbon dioxide emissions. They should be permanent emissions reductions and be validated by an accredited and independent third party. The administration also said that corporate purchasers should make efforts to cut down their own direct emissions and publicly disclose the nature of their credits. "These principles will help us counter glossy greenwash and other real risks in a nascent and voluntary market and, instead, catalyze mountains of capital to rigorously take on emissions and create good-paying jobs," said National Climate Adviser Ali Zaidi in a written statement. The principles put forward by the Biden administration Tuesday are largely in line with those put forward by non-profit entities like the Integrity Council for Voluntary Carbon Markets (IC-VCM). Read more in a full report at TheHill.com. |
Welcome to The Hill's Energy & Environment newsletter, I'm Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. |
|
|
How policy will affect the energy and environment sectors now and in the future: |
|
|
Interior Secretary Deb Haaland confirmed in a Friday memo that National Park Service staff will be permitted to participate in LGBTQ Pride Month activities in uniform, reversing an NPS memo from earlier this month that sparked fierce backlash. |
| |
| The U.S. Supreme Court on Tuesday agreed to hear a lawsuit from San Francisco against the Environmental Protection Agency challenging Clean Water Act regulations the city argues are overly vague. |
| |
|
In exchange for cleaner water, Americans around the nation may soon have to pay hefty prices. |
| |
|
Branch out with a different read on The Hill: |
|
|
The Biden administration is set to announce a new initiative with 21 states Tuesday to modernize the U.S. power grid, ahead of a summer likely to tax its capacity. |
|
|
News we've flagged from other outlets touching on energy issues, the environment and other topics: |
|
|
Hess Investors Vote in Favor of $53 Billion Chevron Takeover (Bloomberg)
'Just brutal': Why America's hottest city is seeing a surge in deaths (Politico) WV legislative leaders object to EPA Lower Guyandotte watershed cleanup agreement (The Charleston Gazette-Mail)
|
|
|
Two key stories on The Hill right now: |
|
|
Closing arguments are underway Tuesday in former President Trump's hush money trial, marking the near end of the weeks-long case that saw nearly two dozen witnesses take the stand. Read more |
| The Democratic National Committee (DNC) is planning to virtually nominate President Biden ahead of the party's convention after the Ohio state Legislature deadlocked on a fix last week to get the president on the ballot in November. Read more |
|
|
You're all caught up. See you tomorrow! |
1625 K Street NW, 9th Floor, Washington, DC 20006 |
Copyright © 1998 - 2024 Nexstar Media Inc. | All Rights Reserved. |
|
|
|
If you believe this has been sent to you in error, please safely unsubscribe.
No comments:
Post a Comment