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Tougher Northeast CO2 Cap Seen Doubling Revenues by 2020

Northeast's Tougher Carbon Cap Seen Doubling Critical Revenues

Inside Climate News -- When the nine states in the Regional Greenhouse Gas Initiative, a cap-and-trade system, agreed last week to dramatically limit power plant emissions, they ushered in a stricter phase of carbon regulation for the Northeast. But they also paved the way for a boom in clean energy investment for the region.

According to a recent analysis, the amount of money generated from the tougher scheme is projected to more than double by 2020, sending an additional $2.2 billion of RGGI money to state coffers—much of that to clean energy industries.

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New NYC Flood Maps Miss Climate Threat to Sandy Rebuilding

Climate Change Impacts Absent from FEMA's Redrawn NYC Flood Maps -- When the federal government released updated flood maps for the New York City region last week, residents were shocked to find that the number of houses and businesses in the region's flood zone had doubled since the maps were last revised, in 1986.

But it now appears that those maps might have underestimated the extent of New York's flood risk, because they don't factor in the effects of future climate change. Scientists say that by the 2080s, sea levels off the city's coast could rise by as much as five feet from melting glaciers, making storm surges more severe and causing floods much further inland than the new maps indicate.

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One-Third of Companies Report Profits From Sustainability Effort

Bloomberg BNA -- More than one-third of companies are reporting a profit from their sustainability efforts, a 23 percent increase from the previous year, according to an annual study by the Massachusetts Institute of Technology and the Boston Consulting Group.

A total of 37 percent of companies surveyed reported profits from their sustainability efforts, compared to 31 percent the previous year, according to the 2012 research report, The Innovation Bottom Line, which was released Feb. 5.

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Chu's Parting Words: Success Requires Failure

U.S. Energy Secretary Steven Chu

Cross posted from's Political Capital blog. 

And another thing…

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Chicago River Flowing Backwards Would Be Least of Concerns

The headlines were alarming: "Drought Could Reverse Flow of Chicago River," hailed the website of WLS-TV, the local ABC News affiliate. "Ongoing Drought Could Send the Chicago River Flowing in Reverse," read Smithsonian magazine's normally sedate web pages. 

It turns out, a backwards flow may be the least of the river’s concerns.  

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One of the Biggest Unknowns in the Unfolding Keystone XL Debate -- One of the biggest unknowns in the unfolding Keystone XL debate is the role the U.S. Environmental Protection Agency might play.

Because the Canada-to-Nebraska oil pipeline crosses an international border, the State Department, not the EPA, will decide whether to give the project the federal permit it needs. But the EPA will weigh in during the review, and its opinion will carry new weight now that the Obama administration has vowed to make climate change a national priority.

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Water Risk to Business Is No Small Drip

The Water Threat to Business is No Small Drip

At the World Economic Forum in Davos last week, I was struck by how often the issue of water risk was raised by business executives. As the global economic turmoil is receding, many CEOs and global leaders are turning to other threats—and water is high on the list. For the second year in a row, water crises were named among the top four global risks at the WEF. 

It’s easy to see why. More than 1.2 billion people already face water scarcity. By 2025, two-thirds of the world population will experience water stress. That’s largely due to population increase and climate change, but also behavior patterns: Water use grew twice as fast as population growth in the 20th century. The “food-water-energy nexus” was one of the top four megatrends to watch in the recently released Global Trends 2030 report by the U.S. National Intelligence Council. 

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Populated U.S. Coasts Found Most Vulnerable to Climate Change

Bloomberg BNA -- U.S. coasts are highly vulnerable to the effects of climate change such as sea-level rise, erosion, storms, and flooding, especially in the populated, low-lying areas along the Gulf of Mexico and the mid-Atlantic, according to a report released Jan. 28 by the National Oceanic and Atmospheric Administration and the U.S. Geological Survey.

Sea-level rise and storm surge flooding pose significant threats to energy, water, and transportation infrastructure, which, in turn, endanger public health, safety, and jobs in coastal areas, according to Coastal Impacts, Adaptation, and Vulnerabilities: a Technical Input to the 2013 National Climate Assessment.

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John Kerry Says He'll Control Keystone XL Review -- Sen. John Kerry made it clear Thursday that he will play a pivotal role in deciding the fate of the Keystone XL pipeline if he is confirmed as secretary of state.

“I’ll make the appropriate judgments about it,” he said, referring to the State Department’s ongoing review of the 1,200-mile tar sands oil pipeline. “There are specific standards that have to be met with respect to that review, and I’m going to review those standards and make sure they’re complete.”

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Fracking the Marcellus Shale Upstate New York

“This is not a place we should be delivering water on trucks.”

Sean Ono Lennon, the musician and son of John Lennon and Yoko Ono, was holding a mic, but he wasn't singing. He was addressing about 30 passengers from the front of a bus driving through wooded, snow-dusted northeastern Pennsylvania. Josh Fox, director of the 2010 documentary Gasland, sat in the front row, looking up at Lennon from under his signature New York Yankees cap. Ono was four rows back, her gray fedora tilted starboard.

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About The Grid

Nations and companies face rising competition for strategic resources — energy, food, water, materials — and the technologies that make best use of them. That's sustainability. It's about the 21st-century race for wealth, health and long-term security, across the global grid.

Analyses or commentary in this blog are the views of the authors, and do not necessarily reflect the views of Bloomberg News.

Eric Roston, Editor

Tom Randall, Deputy Editor

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