The New Carbon Cycle

Can You Reduce Carbon and Save on Taxes?

Ernst & Young has conducted a study on the issue of reducing taxes through environmental and sustainability programs--cutting carbon can lead to lower taxes in some instances.  The study results were published in an article in Environmental Finance, which asked company represenataives if they were aware of incentives for "green" investment.

Federal, state, and local tax credits, deductions, and grants may be available for energy efficiency and other investmetns.  For example, Section 179D of the US Tax Code provides for up to $1.80 per square foot for energy efficiency installations in existing or new buildings.  Tax credits are available for some renewable and alternative energy installations at company properties.

Utilitity incentives may also be available.

Don't forget to check on these incentives when engaging in or planning sustainability programs for your company.

EPA Announces It Will Not Lower Greenhouse Gas Permitting Threshold

Under the approach announced by EPA on February 27, 2012, that it would not be lowering the thresholds for greenhouse gas (GHG) permitting.  The agency stated that new facilities with GHG emissions of at least 100,000 tons per year (tpy) carbon dioxide equivalent (CO2e) continue to be required to obtain PSD permits. Existing facilities that emit 100,000 tpy of CO2e and make changes increasing the GHG emissions by at least 75,000 tpy CO2e, must also obtain PSD permits. Facilities that must obtain a PSD permit, to include other regulated pollutants, must also address GHG emission increases of 75,000 tpy or more of CO2e. New and existing sources with GHG emissions above 100,000 tpy CO2e must also obtain operating permits.

EPA had previously discussed lowering the level at which GHG emissions would cause facilities to be regulated.