ENVIRONMENTAL DEFENSE

Climate Change Climate Change Challenge and OpportunityChallenge and Opportunity

Michael ShoreMichael Shore

DENR Climate and Mercury WorkshopDENR Climate and Mercury Workshop

April 21, 2004April 21, 2004

ENVIRONMENTAL DEFENSE

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Two Reasons NC should pay Two Reasons NC should pay attention to climate change: attention to climate change:

– Challenge:Challenge: Environmental/Economic Environmental/Economic IssuesIssues

– Opportunity:Opportunity: Carbon Marketplace Carbon Marketplace

ENVIRONMENTAL DEFENSE

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Sea level on the Atlantic

coast is expected to rise about 12 inches over the next 30

years.

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CarbonCarbon

MarketplaceMarketplace

RegistryRegistry-or--or-

ReportinReportingg

Selling Selling CreditsCredits

SupplySupply

Ag, Hog, Ag, Hog, Forestry, Forestry, IndustryIndustry

DemandDemand

Utilities, Utilities, ManufacturManufacturersers

ReportingReporting

Targets Targets

Caps Caps (Buying)(Buying)

Pilot Pilot MarketMarket

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• Emission credit dollars will Emission credit dollars will go to out of state suppliersgo to out of state suppliers

• The longer NC waits, the The longer NC waits, the higher the cost of reduction higher the cost of reduction effortsefforts

• The longer NC waits, the The longer NC waits, the worse the worse the environmental/economic environmental/economic impactsimpacts

If NC is asleep at the wheel. . .

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• North Carolina is already North Carolina is already experiencing the effects of climate experiencing the effects of climate change and will continue to do sochange and will continue to do so

• There will be national standards, There will be national standards, eventually, and greenhouse gas eventually, and greenhouse gas marketplacemarketplace

• Will NC be ready or caught off guard? Will NC be ready or caught off guard?

Bottom Line on Climate

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RegistryRegistry-or--or-

ReportinReportingg

Selling Selling CreditsCredits

SupplySupply

Ag, Hog, Ag, Hog, Forestry, Forestry, IndustryIndustry

DemandDemand

Utilities, Utilities, ManufacturManufacturersers

ReportingReporting

Targets Targets

Caps Caps (Buying)(Buying)

Pilot Pilot MarketMarket

ENVIRONMENTAL DEFENSE

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Greenhouse gases are a blanket that keeps the Earth warm

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COCO22 & temperature are & temperature are correlatedcorrelated

ENVIRONMENTAL DEFENSE

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Global temperatures are Global temperatures are risingrising

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Risks and ImpactsRisks and Impacts

$$

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• A rise in global average temperature has already occurred and temperature will continue to rise over the next 100 years

• Warming is mostly due to human activities

– mainly the burning of fossil fuels

• The greater our emissions of greenhouse gases, the more the severe the adverse impacts of climate change will be.

– Assessments by the US National Academy of Sciences and the United Assessments by the US National Academy of Sciences and the United Nations Intergovernmental Panel on Climate Change (IPCC) Nations Intergovernmental Panel on Climate Change (IPCC)

Scientific Consensus

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