Blumenauer: Carbon Tax Will Be 'Very Difficult' To Have In The US

Forbes Breaking News

10 Nov 202104:58

Summary

TLDRDuring a press conference, Julia Rana inquires about the proposed $20 carbon tax bill and the goal of mobilizing $100 billion for climate finance. The response highlights the challenges of implementing a carbon tax in the current U.S. political climate but mentions alternative measures like a carbon border adjustment. The U.S. plans to double its annual public climate finance to developing countries by 2024, as announced by President Biden. Efforts include enhancing technical assistance, aligning support with country needs, and prioritizing climate in public investments. There's also a commitment to rebuild international climate commitments after the U.S. withdrawal from the Paris Agreement.

Takeaways

📢 The proposed carbon tax bill is facing challenges in the short term due to the current Senate dynamics.
🌍 Alternatives to a carbon tax are being considered, such as a carbon border adjustment, which is gaining attention.
🤝 Conversations with the European Union are ongoing regarding carbon border adjustments.
📈 President Biden announced an intent to double annual public climate finance to developing countries by 2024.
🏛️ US agencies are working to prioritize climate in public investments and provide technical assistance.
🌱 The US Agency for International Development (USAID) is set to release a new climate change strategy.
💼 The US International Development Finance Corporation will update its strategy to prioritize climate investments.
🌎 Efforts are being made to rebuild trust and commitments to the international community after the US withdrawal from the Paris Agreement.
💡 There is a political will and commitment to reach the goal of $100 billion in climate finance, despite current unawareness of a carbon tax deal.
🔄 The focus is on building back better in terms of clean energy and international climate commitments.

Q & A

What was the first question asked by Julia Rana during the press conference?
-The first question asked by Julia Rana was about the proposed bill regarding a $20 carbon tax. She requested more details about the bill and inquired about the optimism for its approval.
What was the second question posed by Julia Rana?
-The second question was about the expectation of hearing from former President Obama regarding a $100 billion goal for climate finance, and what actions are being taken to push forward to complete this goal.
What is a carbon border adjustment and how does it relate to the discussion?
-A carbon border adjustment is a policy tool that is gaining attention as an alternative to a carbon tax. It is a tariff on imported goods based on the carbon emissions associated with their production. It was mentioned as a potential mechanism to address carbon emissions in the absence of a carbon tax.
What is the short-term outlook for a carbon fee or carbon tax in the United States according to the transcript?
-The short-term outlook for a carbon fee or carbon tax in the United States is not optimistic due to the current dynamics in the Senate, making it unlikely to happen.
What is the long-term perspective on carbon pricing mechanisms as discussed?
-The long-term perspective includes the potential implementation of a carbon tax and other mechanisms like the carbon border adjustment.
What was President Biden's announcement regarding international climate finance?
-President Biden announced the US International Climate Finance Plan during the Leader Summit in April, which includes the intent to double the annual public climate finance to developing countries by 2024.
How does the US Agency for International Development (USAID) plan to address climate change?
-USAID plans to release a new climate change strategy, prioritizing climate in public investments, enhancing technical assistance, and aligning support with country needs and priorities.
What is the role of the US International Development Finance Corporation in climate finance?
-The US International Development Finance Corporation will update its development strategy to include climate for the first time and make investments in climate mitigation and adaptation a top priority.
What is the commitment of the United States to the international community regarding climate goals?
-The United States is committed to building back better in clean energy and keeping its commitments to the international community by supporting international climate goals.
What does the phrase 'building back better' signify in the context of the transcript?
-The phrase 'building back better' signifies the commitment to not only recover from the previous administration's withdrawal from the Paris climate agreement but also to enhance and exceed previous commitments to international climate goals.
What is the stance of the speaker on the possibility of a carbon tax being implemented?
-The speaker is unaware of any current deal on a carbon tax but acknowledges that it is a topic of discussion and could be an option for the future.

Outlines

00:00

🌿 Carbon Tax Proposal and International Climate Financing

Julia Rana, a reporter from Chile, asks about the proposed carbon tax bill and seeks details on the $20 carbon tax. She also inquires about the progress towards the goal of mobilizing $100 billion for climate finance, previously mentioned by former President Obama and President Biden. The response indicates that a carbon tax is not imminent due to current Senate dynamics but other mechanisms like carbon border adjustments are being considered. The US is working to double annual public climate finance to developing countries by 2024, compared to the second half of the Obama-Biden administration. Efforts include prioritizing climate in public investments, enhancing technical assistance, and aligning support with country needs. USAID will release a new climate change strategy, and the US International Development Finance Corporation will update its strategy to prioritize climate mitigation and adaptation investments.

Mindmap

Keywords

💡Carbon Tax

A carbon tax is an environmental fee imposed on the burning of carbon-based fuels, such as coal, oil, and gas. It is designed to reduce carbon emissions by making polluters pay for the environmental impact of their actions. In the transcript, the proposed $20 carbon tax is mentioned as a potential policy to address climate change, although the speaker indicates that it is unlikely to be implemented in the short term due to current political dynamics in the Senate.

💡Press Conference

A press conference is a formal meeting where members of the media are given an opportunity to ask questions to a public figure or official. In this transcript, Julia Rana, a reporter from Chile, is participating in a press conference to ask questions about climate policy.

💡South America

South America is a continent containing 12 countries in the southern hemisphere, known for its diverse cultures and environments. Julia Rana identifies herself as being from Chile, a country in South America, which situates her questions within a global context, highlighting the importance of international cooperation on climate issues.

💡Climate Financing

Climate financing refers to the financial resources allocated to support climate change mitigation and adaptation efforts. In the transcript, it is discussed in the context of the United States' commitment to doubling annual public climate finance to developing countries by 2024, as part of the US International Climate Finance Plan.

💡Carbon Border Adjustment

A carbon border adjustment is a trade policy designed to put a carbon price on imported goods, thereby leveling the playing field for domestic producers who are subject to carbon pricing. It is mentioned as an alternative to a carbon tax that is gaining attention and could be a mechanism for addressing carbon emissions in the context of international trade.

💡European Union

The European Union (EU) is a political and economic union of 27 European countries. The transcript mentions conversations with the EU regarding carbon border adjustments, indicating that climate policy is a matter of international collaboration and that the EU is a key player in these discussions.

💡Paris Climate Agreement

The Paris Climate Agreement is a global accord aimed at limiting global warming to well below 2 degrees Celsius above pre-industrial levels. The transcript references the U.S.'s previous withdrawal from the agreement under a prior administration, emphasizing the current administration's commitment to rejoining and strengthening international climate commitments.

💡USAID

The United States Agency for International Development (USAID) is a government agency that provides economic, development, and humanitarian assistance around the world. In the transcript, USAID is mentioned as an agency that will release a new climate change strategy, underscoring the U.S. government's commitment to addressing climate change globally.

💡US International Development Finance Corporation

The US International Development Finance Corporation (DFC) is a government agency that partners with the private sector to finance solutions to development challenges. The transcript indicates that the DFC will update its development strategy to prioritize climate mitigation and adaptation, showing a shift in focus towards climate-related investments.

💡Adaptation and Resilience

Adaptation and resilience refer to actions taken to prepare for and reduce the effects of climate change impacts. In the transcript, these terms are used in the context of boosting investments in areas that will help countries become more resilient to the effects of climate change.

💡Moral Responsibility

Moral responsibility is the idea that individuals or entities have a duty to act in ways that are right and just. In the transcript, the speaker discusses the U.S.'s moral responsibility to share resources, financial, technological, and otherwise, to help other countries combat climate change, reflecting the broader ethical considerations in international climate policy.

Highlights

Julia Rana from Chile asks about the proposed $20 carbon tax bill and its details.

The speaker acknowledges the difficulty of implementing a carbon tax in the short term in the United States.

Carbon border adjustment is gaining attention as an alternative to carbon tax.

The European Union is moving forward with carbon border adjustments.

Long-term implementation of carbon tax is expected despite current challenges.

President Biden announced the U.S. International Climate Finance Plan during the Leader Summit in April.

The plan includes doubling annual public climate finance to developing countries by 2024.

US agencies will work with development partners to prioritize climate in public investments.

USAID will release a new climate change strategy imminently at the COP.

US International Development Finance Corporation will update its strategy to prioritize climate investments.

The U.S. is building back better in clean energy and international climate commitments.

The previous administration had taken the U.S. out of the Paris climate agreement and previous commitments.

There is a political will to reach a goal of a hundred billion dollars for climate financing.

The speaker is unaware of any deal on carbon tax but acknowledges it as a possible future option.

Legislation is focused on making everyone pay for climate change mitigation and adaptation.