Pallone, Environment President Paul Tonko (DN.Y.) and Energy President Bobby Rush (D-Ill.) Unveiled the bill at a virtual press conference. They plan to adopt the legislation by regular order.
Pallone also acknowledged that the bill did not include a price tag on carbon emissions, as this type of measure lacked political support.
“We don’t have a carbon tax… I think it’s time to try something new,” he said. “The votes just aren’t there for a carbon price.”
Clean energy standard: Perhaps the most important title is a clean energy standard, which would create a credit trading system for utilities to meet clean energy goals. Utilities would get at least partial credit if their carbon intensity is less than 0.82 tonnes of carbon dioxide per megawatt hour of electricity – including emissions calculated from the production and transmission of energy to the home. public service – until 2030, but this threshold would drop to 0.4 by 2035..
This approach would mean that natural gas power plants could not obtain partial credits without implementing carbon capture and sequestration technologies by the mid-2030s, when they would play a role in the energy transition in Canada. during the 2020s. As structured, the standard also includes labor protections for the construction of new production units.
New provisions: Overall, the legislation would authorize $ 565 billion in spending over ten years as the United States continues its decarbonization efforts. It includes a multitude of new provisions in areas such as environmental justice, energy transition, waste reduction and transport.
The bill would create a national green bank, endowed with $ 100 billion, to mobilize public funds to invest in new technologies needed to meet emission reduction targets. The legislation also includes a requirement that 40% of funds go to environmental justice communities that have suffered from persistent pollution – a priority for the Biden administration.
The Democratic bill would also order the Securities and Exchange Commission to require state-owned companies to disclose their climate-related risks. And it seeks to help communities affected by the transition to cleaner energy through a host of new programs, including one offering federal grants to communities that experience significant income losses as fossil fuel production declines.
“We don’t leave anyone behind, we offer the vision for America’s future,” Tonko said. “Anyone who listens: You, your family and your community have an important role to play.”
The new title of the bill seeks to reduce waste through new programs such as a national bottle depot program. It would temporarily suspend the licensing of new or expanded plastics production facilities, while the EPA enacts new regulations under the Clean Air Act to limit emissions.
It also sets a new interim national target of reducing emissions to 50% below 2005 levels by 2030 at the latest.
Focus on environmental justice: The new provisions relating to environmental justice would notably establish a subsidy program to finance the replacement of lead drinking water service pipes. This effort would prioritize underprivileged communities and include requirements for raw materials made in the United States and strong labor protection.
In addition, the bill sets a ten-year deadline for the clean-up of Superfund sites vulnerable to the impact of climate change and would limit the issuance of permits in census tracts facing significant pollution problems.
It would also require environmental justice training for federal agency employees and the creation of an environmental justice clearinghouse at the EPA.
Hot documents: The full text of the CLEAN Future Act is available on POLITICO Pro, along with a section-by-section summary and a summary of the main changes to this year’s legislation.