Lex Mundi Global Climate Change Guide |
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USA (Federal Law) |
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(United States)
Firm
Sheehan Phinney Bass & Green, PA
Contributors
Robert Lucic |
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| Has your country signed/ratified the Paris Agreement? If so, what is its INDC / NDC? | Yes, the United States formally rejoined the Paris Agreement effective February 19, 2021. The U.S. is setting an economy-wide target of reducing its net greenhouse gas emissions by 50-52 percent below 2005 levels in 2030. |
| What are the key national policy instruments regarding climate change and what are the national long term greenhouse gas emissions (GHG) reduction targets? | The U.S. named former Secretary of State John Kerry as Special Presidential Envoy for Climate and serves a member of the National Security Council. The U.S Environmental Protection Agency and the Department of Energy are developing regulations relating to climate policy. |
| Have national policies or legislation been adopted limiting or prohibiting the use of certain fossil fuels (e.g. coal, natural gas, nuclear)? | There are a number of bills under consideration by Congress but none have been enacted as of July 2021. The U.S Environmental Protection Agency announced a proposed rule for reducing hydroflourocarbons that will provide for allowances for production and use of HFCs starting in 2022 with reductions in following years. |
| What specific national climate change legislation has been adopted? | None yet but a number of provisions are under consideration under the American Jobs Plan. |
| Does your country participate in an international or national GHG emissions trading scheme? | No, the US does not participate in an international or national GHG emissions trading scheme. |
| Has a national CO2 tax or similar instrument been adopted? | No, a national CO2 tax or similar instrument has not been adopted. |
| Does national legislation regulate and/or subsidize carbon capture and storage (CCS)? | No, national legislation does not regulate and/or subsidize carbon capture and storage (CCS). |
| Are the production and/or use of renewable energy sources subject to a national subsidy or similar support scheme? | Yes. There are two federal tax credit programs benefiting wind and solar. These tax credits were extended through 2023. |
| What are the main national measures being taken to reduce GHG emissions / improve energy efficiency in the built environment? | None. Some states such as California have standards. |
| What are the main national measures being taken to reduce GHG emissions / improve energy efficiency in the transport sector? | Currently, vehicle manufacturers must certify their vehicles to one of the seven emission bins shown in Table 1. Vehicles are tested over the FTP-75 test procedure (the NMOG+NOx limits must be additionally met over the HFET cycle). The standards are applicable to all vehicles, regardless of the fuel type. New rules are expected to be proposed in July 2021. |
| What are the main national measures being taken to reduce GHG emissions / improve energy efficiency in the industry? | None |
| What are the main national measures being taken to reduce GHG emissions / improve energy efficiency in agriculture and land use? | None |
| What are the main national measures being taken to reduce GHG emissions / improve energy efficiency in the electricity production sector? | The Clean Air Act governs GHG emissions. The Clean Power Plan, which had been in legal limbo, will not be revised and instead the new administration is evaluating a new plan to limit power plant carbon emissions. |
| What measures are national financial institutions (incl. banks, pension funds, asset management companies and insurance companies) aimed at reducing the GHG emissions of their customers? | The Securities and Exchange Commission and the Federal Reserve are in the process of analyzing the risks of rising temperatures on financial markets. Several large banking institutions have generally pledged to align with U.S. carbon-reduction goals. |
| Are there prominent national climate change litigation cases in your country? If so please provide a short description (e.g. plaintiffs/defendants, public or civil law based, etc.). | Numerous lawsuits filed by investors and shareholders relate to representations by companies relating to carbon emission and climate change effects on there business. There are also common law claims brought attempting to hold companies liable for the impacts of climate change. The Sabin Center at Columbia University maintains a chart of climate change-related litigation at http://climatecasechart.com/us-climate-change-litigation/ |
| Climate change policies, measures or legislation (other than those covered by the questions above) | Note that individual states, especially California, have extensive regulations relating to climate change and emissions standards. |
Lex Mundi Global Climate Change Guide
USA (Federal Law)
(United States) Firm Sheehan Phinney Bass & Green, PAContributors Robert Lucic
Updated 13 Jul 2021Yes, the United States formally rejoined the Paris Agreement effective February 19, 2021. The U.S. is setting an economy-wide target of reducing its net greenhouse gas emissions by 50-52 percent below 2005 levels in 2030.
The U.S. named former Secretary of State John Kerry as Special Presidential Envoy for Climate and serves a member of the National Security Council. The U.S Environmental Protection Agency and the Department of Energy are developing regulations relating to climate policy.
There are a number of bills under consideration by Congress but none have been enacted as of July 2021. The U.S Environmental Protection Agency announced a proposed rule for reducing hydroflourocarbons that will provide for allowances for production and use of HFCs starting in 2022 with reductions in following years.
None yet but a number of provisions are under consideration under the American Jobs Plan.
No, the US does not participate in an international or national GHG emissions trading scheme.
No, a national CO2 tax or similar instrument has not been adopted.
No, national legislation does not regulate and/or subsidize carbon capture and storage (CCS).
Yes. There are two federal tax credit programs benefiting wind and solar. These tax credits were extended through 2023.
None. Some states such as California have standards.
Currently, vehicle manufacturers must certify their vehicles to one of the seven emission bins shown in Table 1. Vehicles are tested over the FTP-75 test procedure (the NMOG+NOx limits must be additionally met over the HFET cycle). The standards are applicable to all vehicles, regardless of the fuel type. New rules are expected to be proposed in July 2021.
None
None
The Clean Air Act governs GHG emissions. The Clean Power Plan, which had been in legal limbo, will not be revised and instead the new administration is evaluating a new plan to limit power plant carbon emissions.
The Securities and Exchange Commission and the Federal Reserve are in the process of analyzing the risks of rising temperatures on financial markets. Several large banking institutions have generally pledged to align with U.S. carbon-reduction goals.
Numerous lawsuits filed by investors and shareholders relate to representations by companies relating to carbon emission and climate change effects on there business. There are also common law claims brought attempting to hold companies liable for the impacts of climate change. The Sabin Center at Columbia University maintains a chart of climate change-related litigation at http://climatecasechart.com/us-climate-change-litigation/
Note that individual states, especially California, have extensive regulations relating to climate change and emissions standards.