ARTICLE
28 June 2013

Obama Unveils New Climate Plan

AO
A&O Shearman

Contributor

A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
President Obama detailed a number of goals he intends to pursue administratively aimed at combating greenhouse gas emissions and increasing the use of renewable energy.
United States Energy and Natural Resources

President Obama detailed a number of goals he intends to pursue administratively aimed at combating greenhouse gas emissions and increasing the use of renewable energy.

In a speech at Georgetown University on Tuesday, June 25th, President Obama said he has directed the Environmental Protection Agency to draft new rules that will regulate carbon emissions from power plants. A 2007 Supreme Court decision gave the EPA the authority to regulate greenhouse gases under the Clean Air Act. Last year, the EPA proposed regulations that would limit carbon emissions from power plants but those regulations have not yet been finalized. These new regulations Obama has directed the EPA to issue are not expected to be released until June of 2014.

In addition, the President's plan includes $8 billion in loan guarantees for investment in carbon capture projects and other innovative technologies. President Obama also announced that the Department of Interior will increase permitting of renewable energy projects including wind and solar on public lands in an effort to generate enough electricity to power 6 million homes by 2020.

Along with $7 billion worth of power purchase agreements the Department of Defense is committing to renewable energy, Obama has pledged that the federal government will receive 20% of its electricity from renewable sources within the next seven years.

As has been the case in the recent past, renewable energy and greenhouse gas regulation is a fast moving area and expected to continue to be so in the foreseeable term.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See More Popular Content From

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More