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TOP STORY
US SEC approves corporate climate disclosure rules but excludes Scope 3 reporting requirements
The US Securities and Exchange Commission (SEC) on Wednesday approved a series of climate-related financial disclosure rules for certain registered companies, in a highly-anticipated decision that notably excluded the Scope 3 emissions reporting requirements originally proposed.
EMEA
ANALYSIS: UK draft property bill to invite clarity for UKA, voluntary credit disputes
Legislation drafted by an independent advisory body at the behest of the British government could lead to revised property rights for holders of UK Allowances and voluntary carbon credits.
Ten EU countries commit to end fossil power by 2035 -campaign group
Ten EU nations representing two-thirds of the bloc’s electricity generation capacity have committed to eliminate all fossil fuels from their power sectors by 2035, according to analysis by a campaign group.
EU co-legislators clinch deal on new CO2-saving rules for European airspace
The European Parliament and the Council of EU member states struck a deal on Wednesday to improve the management of the bloc’s airspace in a way that is meant to reduce CO2 emissions, after being stuck for more than a decade with EU states.
EU ban on carbon offsetting claims to start applying in two years
The EU fired the starting gun on Wednesday on a two-year period to implement its new directive on Empowering Consumers in the Green Transition (ECGT), which for the first time bans ‘climate neutral’ claims based on carbon offsetting schemes.
Europe set to spend €84 bln on new gas import infrastructure, despite climate goals -report
A total of €84 billion is slated to be spent on new gas import infrastructure despite the EU’s climate targets, with projects in Germany, Italy, and Greece accounting for more than half of the expenditure, according to analysis by the Global Energy Monitor.
Euro Markets: EUAs swing sharply in sync with natural gas volatility as short covering seen continuing
European carbon allowances ended Wednesday 2% lower after earlier rising as much as 4%, as the fortnightly gap in the auction schedule, continued short-covering by speculators, and initially firmer energy prices propelled the market to a one-month high, before a sell-off in TTF gas dragged EUAs back down.
Italian court fails to intervene in civil society’s climate litigation
A court in Rome decided on Wednesday not to intervene in a case presented by the civil society against the Italian state claiming that the country’s climate policies are insufficient to achieve its national goals.
UPDATE – Trouble ahead for solar industry as EU reaches deal to ban products made from forced labour
The European solar industry is in for a reshuffle – and potential delays in meeting EU targets – after legislators agreed on Tuesday to ban products made from forced labour, which is slated to disrupt supplies coming from China.
AMERICAS
Report predicts potential Trump US presidential win ups 2030 emissions by 4 bln
A victory for Donald Trump over incumbent Joe Biden at the November presidential elections could add an extra 4 billion tonnes to US emissions by the end of the decade, according to a report released Wednesday.
South Dakota carbon pipeline bills head to governor as amendments cement landowner rights
South Dakota legislators secured landowner rights in a number of final amendments made Wednesday to three carbon pipeline bills, which now proceed to be signed by Governor Kristi Noem (R).
ASIA PACIFIC
Carbon neutral LNG to make comeback as gas prices stabilise, conference hears
The carbon neutral LNG cargoes that had a brief and very public moment through 2020 and 2021 before mostly disappearing may make a resurgence, according to one expert speaking at a Singapore conference Wednesday.
Australia Market Roundup: Opposition Coalition sketches nuclear energy policy, ACCU projects revoked
The sites of Australia’s retiring coal-fired power stations would be the home to the country’s nuclear energy industry, according to Coalition Opposition Leader Peter Dutton, as the regulator has revoked four ACCU projects.
South Korea releases 2024 carbon auction schedule
South Korea on Wednesday released its annual KAU schedule, with plans to spontaneously adjust the number of carbon permits offered at government-held auctions for the rest of this year, as the domestic emissions market remains oversupplied.
VOLUNTARY
FEATURE: SBTi tackles existential question of how to decarbonise oil and gas
The Science Based Targets initiative is quietly pushing ahead with a long-running, contentious process of defining a credible, voluntary net zero pathway for an industry in which decarbonisation is a question of survival: oil and gas.
INTERVIEW: VCMI to road test flexibility claim with companies, aims to launch by year end
The Voluntary Carbon Markets Integrity Initiative (VCMI) plans to road test its flexibility claim idea with companies over the next seven to eight months, despite it clashing with SBTi rules.
Puro sees record monthly retirements, registers largest durable carbon removals project
Voluntary carbon removals platform Puro has seen a record level of retirements in March, after a large volume were processed from a newly registered, large bioenergy project in the US.
Shell inks biochar carbon removals offtake deal with Swiss developer, to explore hydrogen tech with US firm
Oil major Shell has entered into a five-year agreement with a Swiss carbon project developer to source carbon removal credits generated from a biochar facility in Mexico, while also inking a separate deal with another firm to explore decarbonisation solutions using hydrogen electrolyzer technology.
Unilever steps up absolute emissions targets across value chain by 2030
Unilever is stepping up efforts to reduce absolute emissions in the 2020s while still growing its business, in an effort to achieve an existing net zero goal across its value chain by 2039, the consumer goods giant announced on Wednesday.
German carbon removals startup raises over €10 mln
A German direct air capture startup has raised €10.5 million to scale its technology and expand its team.
Exponential biochar carbon removal growth to split in two directions, report finds
Expectations of exponential growth in the biochar carbon removal market will split between a low-cost artisanal approach focusing on smallholder farmers in the Global South and high investment large industrial facilities in the Global North, finds a report.
US grasslands soil carbon developer pays ranchers $3 mln for sequestration efforts in 2023
A US-based grasslands soil carbon project developer last year paid ranchers $3 million for their sequestration efforts, it said Wednesday.
UK carbon consultancy partners with Salesforce to develop emissions reporting tool
A UK-based carbon consulting firm has partnered with US tech giant Salesforce to develop a carbon reporting and reduction service for corporations, the companies announced on Wednesday.
BIODIVERSITY (FREE TO READ)
Focus on smaller protected areas for more cost-effective conservation outcomes, study says
A shift in the criteria used to identify protected areas (PAs) could halve the costs of preventing habitat loss and enhance long-term conservation efforts, a study has claimed.
Research highlights Australia’s rampant deforestation rates
Beef farming expansion in Queensland is driving Australia’s large scale deforestation trend, according to new modelling released Wednesday by NGO Greenpeace.
Dublin-based coffee group purchases first biodiversity credits in Ireland
A Dublin-based coffee group has purchased a batch of biodiversity credits to support nature enhancement at Ireland’s Dunsany Nature Reserve, claimed as the first transaction of its kind in the country and the second in Europe.
COMMENT
The elephants in the room of the EU’s 2040 climate plan
The EU’s 2040 climate action proposal is the start of a dialogue with all stakeholders that will bring controversial and inconvenient topics to the table – topics usually called the “elephants in the room.” In hopes of getting these talks going on the right foot, Veyt’s Hege Fjellheim identifies some of these elephants.
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MEDIA ROUNDTABLE
Corporate views on voluntary carbon markets revealed – A new survey of more than 180 executives and managers will uncover private sector perspectives on voluntary carbon markets in corporate climate action. The survey results, coordinated by the We Mean Business Coalition, will identify the barriers and opportunities for companies, and will offer a number of recommendations for improving market infrastructure to unlock more corporate climate finance. Journalists can register here for an embargoed online roundtable on Wednesday, March 13 at 1400 CET (0800 EST) to discuss the results with the authors.
CONFERENCES
Carbon Forward Asia – March 7-8, Singapore and online: Our conference is anchored on relevant, current content shining the spotlight on opportunities and risks in the Asia-Pacific region. Organised by Carbon Pulse, Redshaw Advisors, and others working in the sector, the agenda will delve into pressing topics with regional and international leaders. With half of all ASEAN countries in the process of establishing domestic carbon markets, we’ll examine at the region’s emerging markets – both compliance and voluntary. And as China prepares to relaunch its CCER offset scheme, we’ll look at domestic demand and possible impacts on voluntary projects. The event will discuss what impact the EU’s Carbon Border Adjustment Mechanism (CBAM) will have. (On Mar. 6 there’s a separate CBAM workshop comprising everything you need to know). Conference attendees will also hear about CORSIA, Article 6, COP29, removals, nature-based solutions, and so much more. Carbon Forward Asia is also a meeting hub for corporates, investors, financiers, bankers, brokers, representatives from industrials, shipping and aviation, oil and gas, utilities, energy, traders, regulators and policy makers, carbon market analysts, project developers, exchanges, rating agencies, and NGOs. Register now!
North American Carbon World (NACW) 2024 – March 19-21, San Francisco: Attend NACW 2024 to learn, collaborate, and network with the North American carbon community and provide a stronger, unified force in advancing climate solutions. Hosted by the Climate Action Reserve, NACW will dive into major new policies, innovations, and developments that will shape and scale carbon markets and climate solutions with integrity and ambition. In addition to outstanding speakers, discussions, and insights, NACW provides premier networking opportunities with an active and engaged audience of leading climate and carbon professionals from all sectors of the economy. www.nacwconference.com
European Climate Summit – April 16-18, Florence: To kick off its annual regional climate summit series this year, IETA looks forward to welcoming delegates to its flagship ECS2024 event, taking place in Italy. ECS comes at a key inflection point for the region’s carbon market. How will the European carbon market evolve in its next phase, which starts in 2031? Around the world, carbon markets are emerging at the fastest ever pace, with new emissions trading systems being developed from Brazil to Vietnam. More markets may mean more opportunities for international cooperation and linking, and some of these could come to Europe. The health of the voluntary carbon market is also a hot topic this year, as the market works to overcome challenges. Environmental integrity and robust quality assurance are at the top of everyone’s mind, and IETA’s ECS2024 will address these issues as well. To register, simply click HERE to join as a delegate. In-person event.
Next steps for the UK Emissions Trading Scheme – April 22, Online: Hosted by Westminster Energy, Environment & Transport Forum, stakeholders and policymakers will explore priorities for implementation and maximising the carbon market’s contribution toward the UK’s net zero strategy. Discussion will consider policy priorities, challenges for industries, and plans to expand the scheme to include domestic shipping and energy from waste. Sessions will also explore the auction reserve price, the forthcoming CBAM, and strategies to enhance the UK ETS’s efficacy while mitigating negative impacts. Book your place
Carbon Forward North America – June 11-12, Toronto: Join us in the Great White North to hear about the evolving carbon pricing and climate policy landscape in North America. Whether you are an emitter, investor, developer, or a new participant in any of the continent’s carbon markets – compliance or voluntary – Carbon Forward North America offers you the opportunity to gain knowledge on both present and future policy developments and market opportunities. Explore the chance to meet the right people or source the right solutions to help you enhance your business prospects or minimise your risk. Come meet the region’s world-leading carbon market experts, compliance players, government officials, investors, project developers, analysts, brokers, and other stakeholders. Agenda to be released soon. To express an interest in speaking or sponsoring, please email michelle@carbon-forward.com
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BITE-SIZED UPDATES FROM AROUND THE WORLD
INTERNATIONAL
One step forward, two steps back – Scope 1 and 2 upstream emissions intensity of the oil and gas sector has declined 12% since 2017, though absolute emissions could plateau due to production growth, according to a new report from Wood Mackenzie. Emissions intensity has been curbed through efforts in flaring reduction, methane detection and repair, electrification, and CCUS, but higher volumes are increasing absolute emissions in some regions, the report finds. Overall, absolute emissions could exceed pre-pandemic levels by 2028, says the research house. Oil majors have led the way on improving emissions intensity, but national oil companies account for 51% of upstream emissions and not all have followed the lead of majors and international oil companies, it finds.
EMEA
Low-growth budget – The UK government’s spring budget, announced Wednesday, was widely panned by climate experts and campaigners for failing to demonstrate a plan for low-carbon growth or meeting the country’s target for net zero emissions by 2050, and lacking in green tax breaks. The budget maintains the frozen carbon price support at £18 per tonne of CO2 through the 2025-26 fiscal year, and confirms the UK’s plan to introduce a carbon border adjustment mechanism (CBAM) from 2027, applying to aluminium, cement, ceramics, fertilisers, glass, hydrogen, and iron and steel. The details of the mechanism will be put out for public consultation later this year, with costings analysis showing the CBAM is forecast to bring in £375 mln for the Exchequer between 2026-29. The government also announced plans to bring VCM trading within the scope of the Terminal Markets Order, which zero-rates VAT for certain wholesale commodity transactions. As well, the budget included a £120 mln top up for the Green Industries Growth Accelerator to help build supply chains for offshore wind and CCS.
More on offer – The UK will offer a record £800 mln a year to support offshore wind farms in an upcoming auction, according to a budget document published Wednesday reported by Bloomberg. The total is three times bigger than any previous support package and is the latest sign from the government of the need to support an industry battling high interest rates and supply chain woes. Britain is a world leader in subsiding offshore wind to help the industry scale and cut costs, with plans to triple capacity this decade to help curb carbon emissions. An increased auction budget is key for developers like Orsted and RWE who will be eligible to bid for the capacity later this year, though it is expected to be a highly competitive process with over 10 GW of projects eligible.
Green revolt – European Central Bank (ECB) staff are expressing significant discontent with the institution’s leadership approach to climate change, the FT reports, particularly following remarks by executive board member Frank Elderson about the need to “reprogram” new recruits to align with the ECB’s green policies. This statement, perceived as disrespectful and undemocratic by the ECB staff committee, has ignited a call for President Christine Lagarde and her team to reassess their management style. The controversy underlines a broader dissatisfaction among ECB staff, as reflected in a survey revealing poor performance ratings for Lagarde and a lack of trust in the board. Elderson’s comments have not only caused internal upheaval but have also attracted political scrutiny, prompting the European Parliament to demand an investigation into potential ideological bias at the ECB. Despite the uproar, the ECB defends Elderson as a proponent of diversity and climate science integration into the bank’s strategies. The staff committee’s critique highlights a demand for more inclusive and reasoned approaches to incorporating climate change considerations into the ECB’s mandate, without overstepping the institution’s legal framework or imposing singular viewpoints.
State aid – The EU Commission has approved the prolongation and amendment of a Romanian scheme to support the production of electricity and heat from high-efficiency cogeneration installations connected to district heating networks. The scheme, originally due to expire on June 30, 2024, will continue until July 31, 2028. The budget will also increase by €362 mln, bringing the total budget to €752 mln, in order to support the installation of at least 200 MW of additional cogeneration power capacity.
EV evacuation – Production was brought to a standstill and staff evacuated at Tesla’s Gigafactory Berlin on Tuesday following an arson attack on a nearby electricity pylon, cutting off power to the factory and the surrounding area. Responsibility for the act was claimed by a far-left militant group describing the attack as a symbolic gesture against Tesla’s environmental impact. Tesla is seeking to expand the factory in order to double production capacity to 1 mln cars a year, but is facing objection from local citizens who dislike the clearing of trees. Tesla hopes to restart production as soon as possible, though it won’t likely occur until next week.
nEHS one! – The German emissions authority (DEHSt) published its 2023 sales report for the country’s domestic CO2 tax scheme for transportation and heating sectors (nEHS), showing an overall lower concentration of auction purchasing. Data showed participation rose to an average 16 buyers per sale, across 94 auctions, up from 14 the year prior. The 10 largest buyers saw their share rise to around 56% from 48% in 2022. A total of 207 participants, up from 183 in 2022, were officially admitted direct access to the sales at the EEX platform, with more than 1,700 registry accounts (1,400 in 2022) also lodged at the platform for indirect access to the sales. The report confirmed provisional information published in January, which showed the German government had offloaded a record 358 mln emissions certificates last year, helping it raise an eye-watering €18 bln from carbon permit sales. November saw a record 167 mln certificates sold, the highest since the scheme began in Oct. 2021.
Farming in the Med – Carbon Farming Med is a new initiative to boost the Mediterranean agricultural sector’s entry into the carbon markets, with a launch meeting taking place this week. Funded by the Interreg Euro-MED programme, the initiative will focus on developing methodologies for the agricultural sector and aims to bring together both buyers and sellers in the market.
ASIA PACIFIC
Get things flowing – Australian-based long duration energy storage company Redflow has been awarded A$1 mln ($651,000) in funding from the Queensland government to investigate potentially establishing a large-scale battery manufacturing plant in the state, Renew Economy reports. Redflow currently manufactures its zinc bromide flow batteries in Thailand, however the grant funding will go towards a feasibility study of building a battery manufacturing facility in the state. The grant funding is sourced from Queensland’s Critical Minerals and Battery Technology Fund. The study will include determining the optimal factory size and location, and designing a fully automated factory to manufacture cost competitive batteries. Redflow describes its flow batteries, dubbed X10, as “next generation”, which will be able to compete with all large-scale battery technologies on the market.
AMERICAS
Last man standing – Nikki Haley’s departure from the Republican presidential race removes the last possibility of moderation on environmental and climate change policy in top GOP leadership, E&E News reports. Haley’s concession Wednesday, after only getting a handful of delegates in the primary contests, cements former President Donald Trump’s place as the party’s undisputed leader and presumptive presidential nominee against President Joe Biden. While Haley made energy and climate promises that were not very different from Trump, she earned accolades from conservative environmental organisations that wanted to back a Republican candidate who took the issues more seriously than Trump. In contrast to Haley, Trump has called climate change a “hoax,” mocked concerns about climate impacts like higher temperatures, and denounced renewable energy.
Bright outlook – Solar energy accounted for more than half of new US electric generating capacity for the first time ever in 2023, according to an industry report released Wednesday. The report by consulting firm Wood Mackenzie and the Solar Energy Industries Association (SEIA) highlights the impact of incentives in 2022’s Inflation Reduction Act on the pace of solar energy deployment. It also identifies potential hurdles that remain for the renewable energy sector. Last year, saw a record year in terms of new US solar power generating capacity as 32.4 GW were added to the grid, up 51% from the additions in 2022. The 2023 total also marked an increase of 37% from the previous record set in 2021. (E&E News)
CCS footprint – The Minnesota House of Representatives is considering bill HF 342 that seeks to establish policy supporting the deployment of carbon capture and sequestration technologies, the state legislature said Wednesday. The bill, introduced in January, was recalled from the Committee on Climate and Energy Finance and Policy and referred to the Committee on Housing Finance and Policy. One of the bill sponsors Rep. Spencer Igo (R) said CCS could help the state attain a zero or negative carbon footprint, while critics have said the new technology would increase emissions and pose other safety risks.
NYCI linkage issues – Various features of New York’s economywide cap-and-invest programme, dubbed NYCI, could lead to issues when the state pursues linkage to carbon markets in other jurisdictions, reported Argus Media. Although linkage would not require identical programmes, too many differences can make the process more complicated, with potential problems including the relatively modest price ceilings modelled and the shorter timeline in which New York measures emissions. Linkage could also elicit criticism from environmental groups, who might claim that it allows for the purchase of allowances from outside the state and thus compromises state emissions reductions goals.
Ethanol worries – Ethanol advocates are on edge following the delay of emissions measurement model GREET that missed a Mar. 1 deadline and is used to determine life-cycle emissions of ethanol-derived sustainable aviation fuel, E&E News reported. Department of Agriculture (USDA) secretary Tom Vilsack said the delay will be a matter of weeks rather than months. Concurrently, the Treasury Department is working out details of a related tax credit in the IRA, which has made industry advocates nervous for a disappointing decision.
Not zero – Canada’s five largest banks are misaligned with the IEA’s and IPCC’s science-based net zero pathways despite being signatories of the Net Zero Banking Alliance, according to analysis by research firm InfluenceMap. Royal Bank of Canada, Toronto-Dominion Bank, Scotiabank, Bank of Montreal, and Canadian Imperial Bank of Commerce have collectively increased total financing going towards the fossil fuel value chain YoY from 15.5% in 2020 to 18.4% in 2022, compared to an average of 6.1% for leading US banks and 8.7% for European banks over the same period. The analysis concluded that there are no net zero leaders in the Canadian banking sector.
VOLUNTARY
What’s two times zero? – The BigCoast IFM project (VCS 3018) retained its ‘zero’ grade by ratings agency Renoster, which published an updated analysis Monday following the publication of key project data. The British Columbia-based project claimed it would defer harvest for the next 25 years on 40,000 hectares of BC forests and has been issued more than 1.4 mln credits to date. The analysis demonstrated that 31.2% of project area is on land sloped greater than 35 degrees, including fragments not in commercial harvest rotation, and 36.2% of project area is within 100 metres of stream buffers, much of which has historically been left largely untouched by industrial forestry, particularly given habitat protection mandated by BC’s Private Managed Forest Land Act. Renoster maintained that the project is highly gerrymandered to favour issuance of credits and noted that carbon credits should not incentivise pre-existing behaviour.
Zimbabwe to go – Zimbabwe said it had received 13 applications for new carbon offset projects since setting new rules governing the trade last year, report Bloomberg. Applications for projects had been received in forestry, regenerative agriculture, waste and energy efficiency sectors, Jenfan Muswere, the information minister, said at a post-cabinet briefing in the capital, Harare, on Tuesday. “Six of the projects having passed the assessment by designated national authority,” and developers were now drawing up detailed design plans, he added. The government released updated regulations for carbon trading in September last year and since then the country has received 30 applications to develop carbon offset projects, Carbon Pulse reported last month. Under the regulations, for the first 10 years, project developers or owners can earn 70% of the revenue generated by these projects, while the remaining 30% will be collected by the government as an environmental levy. Previously, the government had said developers must invest a quarter of the 70% of the earnings from projects back in the community where they were being developed.
Scottish greens – The University of Edinburgh has begun work to plant 2 mln trees and restore 855 ha of peatland in what is said to be one of the largest nature-based offset projects undertaken by a UK university. The projects form part of its net zero strategy in order to offset emissions the institution is unable to eradicate at source. Over the next 50 years, the project is expected to remove 1 mln tonnes of CO2, equivalent to over 9 mln car trips between Edinburgh and London. (BusinessGreen)
Golden Brett – Offset project developer Karbon-X has named former NHL star Brett Hull to its board of directors. Son of ice hockey legend Bobby Hull, “the Golden Brett” scored 741 career goals and won two Stanley Cups, and is recognised at as one of the 100 greatest NHL players of all time. Karbon-X said Hull’s addition to the board is anticipated to bring valuable insights into team leadership and strategic planning to Karbon-X. Also named to the board was Justin Bourque, founder of Asokan Generational Developments and “an experienced leader with a profound commitment to fostering relationships between industry and Indigenous communities”.
AVIATION
SCIENCE & TECH
Testing your NETL – A researcher from the US National Energy Technology Laboratory (NETL), who is overseeing a pilot project to build a DAC testing centre, recently engaged with industry and scientific leaders in Switzerland to discuss the acceleration of commercialising technologies for removing CO2 from the atmosphere. David Luebke, along with Rory Jacobson from the US Department of Energy, highlighted the importance of scaling up DAC technology as part of the national effort to achieve net zero carbon emissions by 2050. Meetings with Marco Mazzotti, a DAC expert at ETH Zurich, and Climeworks, a pioneer in DAC technology, underscored the exchange of ideas and potential collaborations, NETL said, particularly with Climeworks’ innovative approach to DAC and its commercial facilities in Switzerland and Iceland. The NETL DAC Center, set to fully operate by mid-2025, aims to provide a testing ground for DAC technologies at various scales and conditions, focusing on addressing challenges such as amine degradation in sorbent systems. “Amine-based DAC sorbent systems are being evaluated by many developers, but concerns exist regarding their stability and potential to create secondary pollutants. One early effort of the DAC Center is aimed at addressing those concerns,” NETL said in an online post.
Methane moves – A new R&D partnership aiming to accelerate methane abatement from oil and gas has been sparked between BNP Paribas and environmental intelligence firm Kayrros. The European bank will use Kayrros’ expertise tracking methane emissions near real-time through satellite imaging and AI in order to deepen its understanding of its methane footprint and develop portfolio-level methane metrics. The move complements BNP Paribas’ goal to reach 90% of energy financing in low-carbon energies by 2030. The partnership will help assess to what extent satellite imaging could be used by the financial industry to contribute to measuring methane abatement efforts, the companies announced today.
AND FINALLY…
Caught green-handed – A San Diego man who allegedly smuggled greenhouse gases into the US from Mexico and sold them will be the first person prosecuted under a 2020 law aimed at slowing climate change, E&E News reports. According to an indictment against him, Michael Hart, 58, purchased hydrofluorocarbons — chemical compounds commonly used for refrigeration — and smuggled them across the US border in his vehicle, concealed under a tarp and tools. Hart posted the refrigerants for sale on OfferUp, Facebook Marketplace, and other sites, and he sold them for a profit, the indictment alleges. In addition to smuggling GHGs, the indictment accuses Hart of importing HCFC-22, an ozone-depleting substance regulated under the Clean Air Act. Hart’s prosecution is the first in the US to include charges related to the American Innovation and Manufacturing Act, a 2020 law that prohibits importation of HFCs without permission from EPA. At the time it was passed, the bipartisan law was considered the most significant congressional action on climate change in years.
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