Let us recall that the Paris Agreement was agreed on 12 December 2015, at the Paris Climate Conference (COP21), between countries committed to tackle climate change while accelerating and intensifying the actions and investments needed for a sustainable low-carbon future.
In this sense, the United States has a crucial role to play in meeting the agreed targets, being the second largest emitter of greenhouse gases in the world.
During the presidential campaign, President-elect Joe Biden promised to return to the agreement as soon as possible after his announcement as the 46th President of the United States, which will take place on January 20, 2021. In addition, his political agenda involves an ambitious work plan to address climate change and its effects, such as a series of standards and incentives to decarbonise the electricity and transport sectors, among other highly polluting sectors.
It is important to note that US companies have reaffirmed their commitment and many have already taken action to reduce their emissions. Additionally, states and cities are taking action, for example, New York, California and Washington announced the formation of a Climate Alliance, a coalition that will bring together those states that are committed to defending the terms of the Paris Agreement.
Eleven states, representing more than a quarter of the nation’s population, have carbon pricing programs in place and are successfully reducing emissions. These states are California and the ten northeastern states, Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont, which make up the Regional Greenhouse Gas Initiative (RGGI).
RGGI is the first mandatory cap-and-trade program in the United States to limit carbon dioxide emissions from the power sector. And, The California program was the first multisectoral cap-and-trade program in North America.
Climatetrade is the perfect ally for those companies committed to climate action, we have wide experience and a team of experts to work hand in hand to help them offset their environmental impact.