One would have nullified carbon pollution standards set by the Environmental Protection Agency. The second would have voided a set of national standards designed to reduce the amount of greenhouse gas pollution from existing power plants.
In a letter notifying Congress of his decision, Obama says climate change is a "profound threat" that must be addressed.
Some Republican lawmakers and presidential candidates scoff at the climate science.
Obama has made addressing climate change a priority. He recently praised a new international climate agreement reached at a Paris conference and credited his administration as being a driving force behind the deal.
He rejected the measures through a rare "pocket veto," intended to be used when Congress has adjourned, as it did Friday for the year. A pocket vote essentially takes effect when the president fails to sign a bill within 10 days.
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