Carbon credit brokers scrambling for investors.
Via US News:
Gov. Jerry Brown has made climate change the centerpiece of his final tenure by laying out the most aggressive benchmark in North America, which would reduce California’s carbon footprint and boost the state’s renewable energy use to 50 percent in 15 years.
Securing legislation requiring that standard in the world’s eighth-largest economy would be a timely win for Brown before international leaders meet in Paris in November for the United Nations climate change conference. Brown is likely to attend the conference, but he has not said so officially.
But first, the Democratic governor has to break through a logjam in his own party in the final week of the legislative session.
Many Assembly Democrats — including moderates and those representing less wealthy districts — are concerned that the ambitious proposal to cut petroleum use by half, boost renewable electricity use to 50 percent and double energy efficiency in existing buildings will hurt California’s economy and working-class residents.
An oil industry-funded group, the California Driver’s Alliance, is running what climate law proponents call “fear-mongering” ads suggesting the bill will raise gas prices and even result in rationing, harkening back to gas lines during the oil crisis of the 1970s.
Lobbying has intensified on both fronts. Billionaire environmental activist Tom Steyer and Oscar-winning actress Halle Berry are making personal appeals urging undecided lawmakers to vote for the bill. They are joined by President Barack Obama, California U.S. Sens. Dianne Feinstein and Barbara Boxer and a long list of fellow Democrats.
So far, the Brown administration and legislative leaders have shared little publicly as backroom negotiations come down to Friday’s deadline to consider bills.