Carbon finance

After years of having difficulty passing legislation relating to greenhouse gas emissions, a group consisting of both Democrats and Republicans believe they have a plan that can make their constituents happy.

Congressional inaction and election-year politics are hampering US leadership in the fight against climate change. The Obama administration believes it has the authority to act on its own in global negotiations slated for next year in Paris. But that strategy, avoiding Congress, has its problems.

The REDD program, facilitated by the United Nations, seeks to preserve crucial forests using financial incentives and markets. But in four years since opening shop in Indonesia, the program has struggled to make a meaningful start.

After passing the United States as the top carbon emitter, one researcher says China’s now making a commitment to reduce the country’s carbon output. But in order for China to reduce large amounts of CO2, they say, the U.S. will need to do more.

For companies doing business in California, a new environmental law is about to go into effect. It is expected to raise the cost of doing business for companies with carbon emissions.