The Earthshine project is a collaborative effort between Big Bear Solar Observatory (New Jersey Institute of Technology) and the California Institute of Technology. Our primary goal is the precise determination of a global and absolutely calibrated Earth's albedo and the characterization of its synoptic, seasonal and inter-annual variability. Photometric observations of the Earth's reflectance have been regularly carried out during the past almost 4 years. The up-to-date synoptic, seasonal and long term variation is the Earth's albedo are reported in this paper, together with comparison with modelled albedo using modern cloud satellite data end ERBE scene models. The Earth's albedo has a major role in determining the Earth's climate, and the possibility of a response of this parameter to solar activity is also discussed. Simultaneously, spectrometric observations of the earthshine have been carried out at Palomar Observatory. First results and comparison between the spectral and photometric observations are also being presented.