Latest news with #carbonReduction
Yahoo
a day ago
- Politics
- Yahoo
North Carolina lawmakers finalize bill that would scrap 2030 carbon reduction goal
RALEIGH, N.C. (AP) — North Carolina legislators finalized a bill Thursday that would eliminate an interim greenhouse gas reduction mandate set in a landmark 2021 law, while still directing regulators to aim to cancel out power plant carbon emissions in the state within the next 25 years. With some bipartisan support, the state Senate voted to accept the House version that would repeal the 2021 law's requirement that electric regulators take 'all reasonable steps to achieve' reducing carbon dioxide output 70% from 2005 levels by 2030. The law's directive to take similar steps to meet a carbon neutrality standard by 2050 would remain in place. The bill's Republican supporters pushing the new measure say getting rid of the interim goal benefits ratepayers asked to pay for future electric-production construction and is more efficient for Duke Energy, the state's dominant electric utility. The bill now goes to Democratic Gov. Josh Stein, who can veto the measure, sign it or let it become law without his signature. Stein previously expressed concerns about the Senate version of the measure, worried that it could hurt electricity users and threaten the state's clean-energy economy. His office didn't immediately provide comment after Thursday's vote. With over a dozen House and Senate Democrats voting for the final version, the chances that any Stein veto could be overridden are higher. Republicans in charge of the General Assembly are only one House seat shy of a veto-proof majority. The bill also contains language that would help Duke Energy seek higher electric rates to cover financing costs to build nuclear or gas-powered plants incrementally, rather than wait until the project's end. The 2021 greenhouse gas law marked a rare agreement on environmental issues by then-Democratic Gov. Roy Cooper and Republican lawmakers. At least 17 other states — most controlled by Democrats — have laws setting similar net-zero power plant emissions or 100% renewable energy targets, according to the Natural Resources Defense Council. North Carolina and Virginia are the only ones from the Southeast. The legislation came about as President Donald Trump's administration has proposed rolling back federal environmental and climate change policies, which critics say could boost pollution and threaten human health. Republicans are promoting them as ways to reduce the cost of living and boost the economy. The state Utilities Commission, which regulates rates and services for public utilities, already has pushed back the 2030 deadline — as the 2021 law allows — by at least four years. The panel acknowledged last year it was 'no longer reasonable or executable' for Duke Energy to meet the reduction standard by 2030. Bill supporters say to meet the goal would require expensive types of alternate energy immediately. If the interim standard can be bypassed, GOP bill authors say, Duke Energy can assemble less expensive power sources now and moderate electricity rate increases necessary to reach the 2050 standard. Citing an analysis performed by a state agency that represents consumers before the commission, GOP lawmakers say removing the interim goal would reduce by at least $13 billion what Duke Energy would have to spend — and pass on to customers — in the next 25 years. Bill opponents question the savings figure given uncertainty in plant fuel prices, energy demand and construction costs, and say the interim goal still holds an aspirational purpose to while Duke Energy agreed in 2021 to meet. Provisions in the measure related to recouping plant construction expenses over time would reduce accumulated borrowing interest. Environmental groups argue the financing option would benefit Duke Energy financially on expensive projects even if they're never completed, and the bill broadly would prevent cleaner energy sources from coming online sooner. 'This bill is bad for all North Carolinians, whether they're Duke Energy customers or simply people who want to breathe clean air,' North Carolina Sierra Club director Chris Herndon said after the vote while urging Stein to veto the measure. Bill support came from the North Carolina Chamber and a manufacturers' group, in addition to Duke Energy. 'We appreciate bipartisan efforts by policymakers to keep costs as low as possible for customers and enable the always-on energy resources our communities need,' the company said this week. Gary D. Robertson, The Associated Press
Associated Press
a day ago
- Politics
- Associated Press
North Carolina lawmakers finalize bill that would scrap 2030 carbon reduction goal
RALEIGH, N.C. (AP) — North Carolina legislators finalized a bill Thursday that would eliminate an interim greenhouse gas reduction mandate set in a landmark 2021 law, while still directing regulators to aim to cancel out power plant carbon emissions in the state within the next 25 years. With some bipartisan support, the state Senate voted to accept the House version that would repeal the 2021 law's requirement that electric regulators take 'all reasonable steps to achieve' reducing carbon dioxide output 70% from 2005 levels by 2030. The law's directive to take similar steps to meet a carbon neutrality standard by 2050 would remain in place. The bill's Republican supporters pushing the new measure say getting rid of the interim goal benefits ratepayers asked to pay for future electric-production construction and is more efficient for Duke Energy, the state's dominant electric utility. The bill now goes to Democratic Gov. Josh Stein, who can veto the measure, sign it or let it become law without his signature. Stein previously expressed concerns about the Senate version of the measure, worried that it could hurt electricity users and threaten the state's clean-energy economy. His office didn't immediately provide comment after Thursday's vote. With over a dozen House and Senate Democrats voting for the final version, the chances that any Stein veto could be overridden are higher. Republicans in charge of the General Assembly are only one House seat shy of a veto-proof majority. The bill also contains language that would help Duke Energy seek higher electric rates to cover financing costs to build nuclear or gas-powered plants incrementally, rather than wait until the project's end. The 2021 greenhouse gas law marked a rare agreement on environmental issues by then-Democratic Gov. Roy Cooper and Republican lawmakers. At least 17 other states — most controlled by Democrats — have laws setting similar net-zero power plant emissions or 100% renewable energy targets, according to the Natural Resources Defense Council. North Carolina and Virginia are the only ones from the Southeast. The legislation came about as President Donald Trump's administration has proposed rolling back federal environmental and climate change policies, which critics say could boost pollution and threaten human health. Republicans are promoting them as ways to reduce the cost of living and boost the economy. The state Utilities Commission, which regulates rates and services for public utilities, already has pushed back the 2030 deadline — as the 2021 law allows — by at least four years. The panel acknowledged last year it was 'no longer reasonable or executable' for Duke Energy to meet the reduction standard by 2030. Bill supporters say to meet the goal would require expensive types of alternate energy immediately. If the interim standard can be bypassed, GOP bill authors say, Duke Energy can assemble less expensive power sources now and moderate electricity rate increases necessary to reach the 2050 standard. Citing an analysis performed by a state agency that represents consumers before the commission, GOP lawmakers say removing the interim goal would reduce by at least $13 billion what Duke Energy would have to spend — and pass on to customers — in the next 25 years. Bill opponents question the savings figure given uncertainty in plant fuel prices, energy demand and construction costs, and say the interim goal still holds an aspirational purpose to while Duke Energy agreed in 2021 to meet. Provisions in the measure related to recouping plant construction expenses over time would reduce accumulated borrowing interest. Environmental groups argue the financing option would benefit Duke Energy financially on expensive projects even if they're never completed, and the bill broadly would prevent cleaner energy sources from coming online sooner. 'This bill is bad for all North Carolinians, whether they're Duke Energy customers or simply people who want to breathe clean air,' North Carolina Sierra Club director Chris Herndon said after the vote while urging Stein to veto the measure. Bill support came from the North Carolina Chamber and a manufacturers' group, in addition to Duke Energy. 'We appreciate bipartisan efforts by policymakers to keep costs as low as possible for customers and enable the always-on energy resources our communities need,' the company said this week.
Reuters
11-06-2025
- Business
- Reuters
Vietnam launches first phase of emissions trading scheme
HANOI, June 11 (Reuters) - Vietnam has formally launched the pilot phase of an emissions trading scheme aimed at encouraging three major industrial sectors to cut the amount of carbon dioxide they produce, the government said on Tuesday. Under the scheme, Vietnam's steel, cement and thermal power producers will be forced to buy allowances to cover their carbon dioxide intensity - the amount of CO2 generated per unit of output, according to a decree issued by the government. The new scheme will cover around 50% of Vietnam's total CO2 emissions over its first phase, which will last until 2029. It will then be expanded to other sectors, including cargo transportation and commercial buildings. The first batch of emission allowances for 2025-2026 will be allocated to the companies by the end of this year. Firms that exceed their allowances will have to make up the shortfall by buying credits on the market. The scheme will also allow firms to offset as much as 30% of their emissions by buying credits from low-carbon projects at home or overseas. The new ETS is unlikely to have an immediate impact on the emissions of major industries, with most of the allowances expected to be allocated free of charge in the first phase, said Mai Duong, an analyst at Veyt, a carbon market data provider. "The priority is first to help entities adapt to the system, rules and regulations, rather than delivering immediate environmental impacts," she said. Carbon trading is set to become a key part of Vietnam's efforts to meet a target to achieve "net zero" emissions by 2050. Vietnam's emissions have been rising in recent years, mostly as a result of a surge in coal-fired power generation, which soared nearly 18% last year. Crude steel production in 2024 also jumped 15% on the year.
Geek Wire
19-05-2025
- Business
- Geek Wire
Climate goals vs. computing growth: How tech can expand data centers and support clean energy
Sustainability: News about the rapidly growing climate tech sector and other areas of innovation to protect our planet. SEE MORE An Amazon data center in Oregon. (AWS Photo) Can tech companies' appetite for more energy-hungry data centers coexist with the Pacific Northwest's ambitious climate goals? Researchers at Sightline Institute, a Seattle-based think tank, say it's possible. A new report titled 'A Climate Hawk's Guide to Northwest Data Centers' explores regulations and predicts how growing power demand from data centers, as well as electric vehicles and other electrification efforts, could impact the region. Key findings include: Oregon and Washington laws prevent new coal or natural gas plants from being built, but demand could delay the retirement of the 17 gas plants operating in the two states. Neighboring states without stringent energy laws, such as Idaho and Montana, could decide to build new fossil fuel power plants to meet growing demand. The data centers could claim the clean energy that the states produce, leaving dirtier power for other sectors. Washington and Oregon as well as data center giants Amazon, Microsoft, Google and Meta are aligned in working toward ambitious carbon reduction targets. But state budget shortfalls, economic pressures and shareholder demands complicate progress in meeting those goals. The two West Coast states are each already home to more than 100 data centers. In Oregon, the computing muscle behind cloud services gobbles 11.4% of the state's energy production, while the centers consume 5.7% of the power produced in Washington, the report states. Portland and Eastern Oregon rank second in U.S. data center capacity, trailing Virginia, which is billed as the world's largest data center hub. And data center growth continues. The surge is driven by growing demand for artificial intelligence, which requires extensive computing power. While some tech companies have tempered their expansion projections, more energy-intensive facilities are on the horizon. Sightline, a nonpartisan nonprofit that promotes clean power use, suggests strategies that allow for data center expansion while bringing new renewable energy sources online. '[T]ech companies, with their deep pockets and corporate climate commitments, alongside their eagerness to ensure a robust energy supply to power their business plans, may be ideal underwriters of Oregon and Washington's clean energy transition,' write Emily Moore, Sightline's director of climate and energy. Potential solutions include policies with a combination of incentives and requirements that lead tech giants to support clean energy deployment and electrical grid improvements. That includes: Tax breaks for data centers that use clean energy sources Charging data centers higher electricity rates to help fund grid and clean energy improvements Crafting policies enabling data center operators to build and use their own clean power Creating a new entity to help deploy renewable power in the Pacific Northwest (A report last week from Oregon Public Broadcasting and ProPublica identified the Bonneville Power Administration, the regional federal agency overseeing grid upgrades and getting new power online, as a major bottleneck.) 'Data centers are the first test of the Northwest's climate ambitions,' Moore writes. 'How leaders respond may chart the course for the rest of the economy's clean energy transition.'
