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Western Climate Initiative: status report New England Restructuring Roundtable Boston, MA December 5, 2008

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The Western Climate Initiative (WCI) was launched in February 2007 by the ... jurisdictions, generally at the terminal rack, final blender, or distributor; ... – PowerPoint PPT presentation

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Title: Western Climate Initiative: status report New England Restructuring Roundtable Boston, MA December 5, 2008


1
Western Climate Initiativestatus reportNew
England Restructuring RoundtableBoston,
MADecember 5, 2008
  • Jeff Wennberg, Senior Consultant
  • The Center for Climate Strategies

2
  • The Western Climate Initiative (WCI) was launched
    in February 2007 by the governors of Arizona,
    California, New Mexico, Oregon, and Washington,
    signaling a long-term commitment to significantly
    reduce regional greenhouse gas emissions. Since
    the WCI first formed, the states of Montana and
    Utah and the Canadian provinces of British
    Columbia, Manitoba, Ontario, and Quebec have
    joined the partnership.

3
Western Climate Initiative
4
WCI Quick Facts
  • The final recommended program design was released
    September 23, 2008
  • GHG region-wide reduction goal 15 below 2005 by
    2020
  • Will cover 90 of regional emissions when fully
    implemented
  • The first compliance period is set to commence
    January 1, 2012

5
WCI Quick Facts
  • Covered sectors include electricity, industry,
    transportation and residential and commercial
    fuel use
  • The seven states and four provinces represent
    over 70 percent of the Canadian economy and 20
    percent of the U.S. economy

6
WCI and North America Population
WCI includes Partners and Observers
7
WCI and North America GDP
WCI includes Partners and Observers
8
WCI Sector Coverage
  • The WCI cap-and-trade program will cover
    emissions of the six main greenhouse gases from
    the following sectors of the economy
  • Electricity generation, including imported
    electricity
  • Industrial and commercial fossil fuel combustion
  • Industrial process emissions
  • Gas and diesel consumption for transportation
  • Residential fuel use

9
WCI Phase 1
  • 1/1/2012 12/31/2014 First compliance period
    covered sources
  • electricity, including imported electricity
  • industrial combustion at large sources
  • industrial process emissions for which adequate
    measurement methods exist.

10
WCI Phase 2
  • 1/1/2015 12/31/2017 Second compliance period
    covered sources
  • same as Phase 1, plus
  • transportation fuels
  • residential, commercial and industrial fuels not
    otherwise covered.

11
WCI Electric Sector
  • The point of regulation is the First
    Jurisdictional Deliverer (FJD).
  • For sources within WCI jurisdictions, the FJD is
    the generator.
  • For power that is generated outside the WCI
    jurisdictions (or generated by a federal entity
    or on tribal lands) for consumption within a WCI
    Partner jurisdiction, the FJD is the first entity
    that delivers that electricity over which the
    consuming WCI partner jurisdiction has regulatory
    authority.

12
First Jurisdictional Deliverer
Graphic by World Resources Institute
13
WCI Large Industrial Sector
  • The point of regulation will be at the point of
    emission

14
WCI Small Industrial, Commercial and Residential
Sectors
  • The point of regulation will be where the fuels
    enter commerce in the WCI Partner jurisdictions,
    generally at a distributor
  • The precise point is to be determined and may
    vary by jurisdiction.

15
WCI Transportation Sector
  • The point of regulation will be where the fuels
    enter commerce in the WCI Partner jurisdictions,
    generally at the terminal rack, final blender, or
    distributor
  • The precise point is to be determined and may
    vary by jurisdiction.

16
WCI Emissions Threshold
  • 25,000 metric tons of carbon dioxide equivalents
    (CO2e) or more
  • Mandatory reporting data may be used to adjust
    this threshold for specific industries where
    necessary.

17
WCI Reporting
  • Mandatory monitoring for the six GHG gasses to
    commence January, 2010
  • Reporting of 2010 emissions will begin in early
    2011
  • Entities subject to reporting are those with
    annual emissions of 10,000 metric tons of CO2e or
    more
  • Third party verification of reported emissions
    required.

18
WCI Offsets
  • Use of offsets limited to no more than 49 of the
    total emission reductions by source
  • Priority project types
  • Agriculture (soil sequestration and manure
    management)
  • Forestry (afforestation/reforestation, forest
    management, forest preservation/conservation,
    forest products)
  • Waste management (landfill gas and wastewater
    management).
  • Partner jurisdictions may accept offset credits
    from developing countries through the Clean
    Development Mechanism (CDM)

19
WCI Banking and Borrowing
  • Banking is allowed without limit except to
    prevent market manipulation
  • Borrowing is not allowed.

20
WCI Allowance Distribution
  • Auction a minimum of 10 (regionally) in 2012
    (not binding on individual Partners)
  • Growing to 25 in 2020
  • Partner jurisdictions may auction a greater
    portion
  • Auctions will be regionally conducted.

21
WCI Preliminary Economic Modeling Results
22
WCI Work Moving Forward
  • Develop FJD model
  • Set emissions caps and methodology
  • Complete economic modeling
  • Issue model reporting rule
  • Develop regional auction design
  • Develop early reduction recognition plan.

23
Florida
  • Governors Energy Climate Action Team
    recommended observer status with RGGI and WCI
    (10-15-08)
  • Action Team recommended potentially joining both
    WCI RGGI
  • Florida 4th largest economy in U.S.
  • 2007 Population 18,251,243
  • 2007 GDP 609,899 million
  • Projected 2020 economy-wide emissions equal 70
    of California.

24
Florida
25
Questions?
Western Climate Initiative www.westernclimateiniti
ative.org
Center for Climate Strategies www.climatestrategie
s.us
  • Jeffrey Wennberg
  • 15 Grandview Terrace, Rutland, VT 05701, (802)
    773-7297
  • wennberg.ccs_at_gmail.com
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