Four months after it was finalized by delegates to the Paris Climate Change Conference, the Paris Agreement will be signed by more than 100 nations on Friday. While the agreement is facially insufficient to meet its overall emissions objectives, the signing of the Paris agreement nevertheless is significant. It brings into effect the approach and policy infrastructure needed to tackle the United Nations Framework Convention on Climate Change's ambitious goal to minimize human-caused climate change. The agreement does not solve the problem on its own, but it is a structured revisitation of the science and national commitments that provide the adaptive approach necessary to reach a solution. It is now on researchers and entrepreneurs to invent solutions; for governments, development banks and the private sector to deploy them; and for nations to hold each other accountable as this agreement goes into effect.
Energy innovation is just one of the benefits of the signing, according to White House Press Secretary Josh Earnest.
"This will open up a market for energy innovation that U.S. companies have pioneered," Earnest said. "This is going to open up a global market for the kind of renewable energy technology that U.S. companies are at the cutting edge of."
Other shifts have occurred since the Paris Agreement was finalized, GreenBiz reports. Big companies have backed the Clean Power Plan, there's a rise in "sub-national" climate action at the state and city level and President Obama has proposed $10-a-barrel-tax on oil, they say.
EPA Finds Benefits Outweigh Cost of Mercury Rule
Benefits of the Mercury and Air Toxics Standard (MATS) rule outweigh cost, the U.S. Environmental Protection Agency (EPA) said in findings released in defense of its issuance of the first-ever federal regulations requiring power plants to cut mercury emissions and other toxics.
The Supreme Court found, last year, that the EPA should have considered compliance costs when determining whether it was "appropriate and necessary" to regulate mercury emissions from the power sector. In a June ruling, it did not strike down the regulation; rather, it required the EPA to take costs into consideration.
In its final 167-page report on the matter, now awaiting publication in the Federal Register, the EPA details how it considered cost in evaluating whether to regulate coal-and oil-fired power plants under the Clean Air Act (subscription).
"Based on this analysis, EPA has determined that the cost of complying with MATS, whether assessed as a percentage of total capital expenditures, percentage of power sector sales, or predicted impact on the retail price of electricity, is reasonable and that the electric power industry can comply with MATS and maintain its ability to provide reliable electric power to consumers at a reasonable cost," the EPA wrote.
The annual cost of complying with MATS, the EPA found, amounts to between 2.7 and 3.5 percent of electricity sales, and the capital costs between 3 and 5.9 percent of annual power sector capital expenditures over 10 years.
Methane Emissions Greater Than Thought
In its newly released annual greenhouse gas emissions inventory, the EPA raised its estimate of total U.S. methane emissions in 2013 by 13 percent--an increase of more than 3.4 million metric tons and a long-term global warming impact of a year's worth of emissions from some 20 million cars, Science News reported. The agency's first estimate of methane emissions for 2014 is even higher, although only slightly so--29.233 million metric tons compared with 28.859 million metric tons.
Although there was a roughly 1 percent increase in total U.S. greenhouse gas emissions between 2013 and 2014, the inventory shows 2014 levels were 8.6 percent lower than 2005 levels, taking into account carbon sinks (subscription).
According to the EPA, the biggest methane emitter is the oil and natural gas industry--not animals like cattle and other livestock, as had been suggested by last year's inventory. The data in this latest inventory are based on new techniques for estimating methane leaking from valves, compressors, vents, and other oil and gas equipment.
The Climate Post offers a rundown of the week in climate and energy news. It is produced each Thursday by Duke University's Nicholas Institute for Environmental Policy Solutions.