By
Peter C. Fusaro, Chairman, Global Change Associates
The US
federal government invented the concept of cap and
trade by taking a financial instrument from the
mortgage-backed securities market and applying it to
air quality attainment for acid rain remediation. It
worked. The concept was proposed by the US delegation
at the Rio Climate Convention in 1992 and was
ironically opposed by the EU at the time. Today, we are
at a cross roads to create a very viable and effective
environmental financial market for the reduction of
greenhouse gas emissions in the US. Because this market
is starting all over the world, the timing is now
appropriate for the US to lead the way once again. The
real market for the abatement of CO2 and other
greenhouse gases begins next January 1, 2008. The train
has now arrived, and we need to get on board. We need
to stop posturing that voluntary technology programs or
voluntary carbon offsets will get us anywhere when see
greenhouse gas emissions rising each year in the US.
They are now estimated to rise by another 19% over 2000
levels by 2020 according to the US Government. This is
on top on an annual increase of about 1% per year since
the 1990s.
The
most urgent need for Congress now is to create a market
that works so it is critical that market design have
certain elements that are clear and functional. The
first element is “hard caps” and a viable federal
registry for this (effectively replacing Section 1605
(b) with a registry with some teeth). We already do
this for the SO2 and NOX programs. The EPA can monitor
this on the Internet by serializing emissions
reductions. The second element for a successful cap and
trade program is clearly defined rules. That means
burden sharing across all sectors of the US economy
that make emissions. The onus cannot only fall on
electric utilities as crafted by the Northeast’s
Regional Greenhouse Gas Program (RGGI). That means
tailpipe emissions and buildings. In fact, getting to
buildings may be the hardest part of this equation. The
third element is a long-term scheme not the five year
Kyoto period but something similar to the acid rain
program and what both California and the Northeast have
done. A federal regime that has 2020 as a starting
point for significant greenhouse gas reductions.
The
point is that capital markets needs clear rules to
thrive. It’s the simplicity in the replication of trade
that makes markets work, not complexity and a need to
be perfect. One off trades do not make markets. Wall
Street is ready to go once the rules are defined as
investors are lining up to help deploy more capital for
more energy efficient and less emissions emitting
technology.
Let’s
Get Going Now for Regulatory Certainty
The
concept behind “cap and trade” is relatively is simple:
Companies that produce emissions below a mandatory cap
earn carbon credit, and they can sell those credits to
companies that don’t meet the cap. This rewards those
who invest in ways of reducing pollution and penalizing
those who don’t. The US invented this regulatory model
with the acid rain and ozone programs so we have
experience in this sector already and financial
services firms are already engaged as market makers in
both SO2 and NOX trading.
But
while a broad consensus over a mandatory carbon
cap-and-trade system is now steamrolling, various
industry players are divided on just how to set the
rules of the game. Several basic questions need to have
consensual answers. Will companies that take early
action on greenhouse get credit? What will be the
baseline year: 1990 or 2000. And most fundamentally,
how will emissions credits be allocated, and will this
include the nuclear industry.
The
good news is that the electric utility industry has
vast experience with a cap-and-trade system to limit
emissions of sulfur dioxide and nitrous oxide and
control acid rain. Moreover, US companies already can
trade carbon allocations under on the Chicago Climate
Exchange (CCX), a voluntary carbon cap-and-trade
market. The CCX now has over 300 members with more
joining each week. But without mandatory caps,
monitoring of emissions and clear penalties for
exceeding caps, trading there will likely remain
limited there.
The
failure of phase 1 of the EU Emissions Trading Scheme
should not be a defining pause for US initiatives. The
Europeans designed a flawed trading system for Phase 1
that made credits too cheap to have any real impact on
reducing greenhouse gases. Phase 2 of the EU ETS which
begins next year rectifies that problem. But that leads
us to the growing Congressional consensus on a “safety
valve” through price caps on carbon. This is a bad
idea. Every time price caps are placed on a market they
cause disincentives to follow rather than incentives in
investment to take place. The price caps on various
electric power markets did not incent business to build
and invest. The argument that too tough restrictions on
carbon are really the industry crying wolf. We have
heard this refrain since the phase out of lead in
gasoline. It’s an old saw that it’s too expensive, or
we can’t do it in the time period mandated. Etc. The
fact is that engineering and technology solutions need
to have the bar set high to get real economic
breakthroughs in cleaner energy. Also, there is much
long hanging fruit in the form of energy efficiency to
get to real greenhouse gas reductions in this country.
Market
Design is Not Rocket Science: It’s Good Public Policy
Several Congressman and Senators have claimed that they
do not know what to do on climate change. This may be
true, but we are not talking putting a man on the moon
again. We need a clear and concise policy framework.
The air quality regulations are crafted after the
federal law is passed.
Some
of the political factors of elected officials that may
drive the issue this year are that many people running
for reelection and president in 2008 want to take this
issue off the table. Others want to make this a very
contentious issue for the presidential campaign. It
remains to be seen how the politics will play out.
It
seems to me that climate legislation needs to have both
significant reductions and long-term regulatory
framework, and that will be worked after Congressional
summer recess by the House and Senate when the real
climate change negotiations will take place.
The
States Have Blinked
We now
have bicoastal carbon regimes emerging in the US.
California is the furthest out on the curb with a 25%
reduction in CO2 by 2020 with Washington, Oregon,
Arizona and New Mexico coming into the fold of that
regime. The burden falls on electric utilities,
industrial and refiners. Transport will be next. On the
East Coast, we have the Regional Greenhouse Gas
Initiative (RGGI) will looks like it will expand to 12
states. It is a more modest program of 10% reduction by
2020 with the burden falling solely on electric
utilities. Moreover, it looks like RGGI will ban
financial firms from participating in the market. This
is a dumb idea as markets need market makers i.e.
financial houses. Morgan Stanley and JP Morgan are
large players in the US SO2 (acid rain) markets and
hedge funds also participate. This is a market failure
waiting to happen. In effect, RGGI goals now need to be
revisited with greater reductions and burden sharing
across all sectors.
The
good news at the state level is that CDM and JI
projects under Kyoto will be part of these regimes. The
better news is an acknowledgement by both coasts that
harmonious standards will be needed or will risk market
fragmentation. Markets like simplicity for replication
of trade. That creates market liquidity.
There
is No Technology Magic Bullet
There
is no one solution to climate change and reducing one’s
carbon footprint. Therefore, the need is great to
educate people that “little things mean a lot.” In
other words, aggregation of 300 million US consumers
can change many consumption patterns. The Walmart/GE
initiative to sell 100 million compact fluorescent
lamps is one such initiative. There are hundreds more
that can be accomplished in energy efficiency area that
will not mean sacrifice for any Americans. It may cost
a little more but that is the price for a cleaner
environment and better human health.
How
Will “Carbon Risk” Play Out?
Climate change is now a financial issue. $31 trillion
of pension fund money is asking the Fortune 500 what is
the risks of climate change on their books under the
Carbon Disclosure Project. It has become the fiduciary
responsibility of corporate America to deal with this
issue both domestically under a US carbon regime and
internationally under the Kyoto Protocol. Kyoto may be
revisited but that market begins on January 1, 2008.
It’s time for Congress to take the leadership on
climate change legislation that both provides
regulatory certainty for business and a common standard
for the nation.
Peter
C. Fusaro has been a long-term advocate of both clean
energy solutions and federal mandates for both
greenhouse gases and renewable energy.
** His
next Webinar on “Carbon Market Developments” will be
held on June 27th (ww.pgsenergy.com). Please see the
Events section for more information.
**JK – Here is another excerpt.
“But the biggest problem, at least politically, is that
carbon taxes are transparent and simple, whereas
cap-and-trade systems are complicated and conveniently
opaque.” This article advocates a carbon tax, an
instrument I do not favor. The quote also points to the
brewing public relations problem carbon has which is
its transparency and the ability for the general media
and public to understand it.
Salazar's energy initiative passes initial stage
Jeffrey Wolf - KUSA
DENVER- On Friday, Colorado Democratic Sen. Ken Salazar
introduced an amendment to House bill that would reduce
national energy non-renewable resources and it passed
an initial vote.
The 'Renewable Fuels, Consumer Protection, and Energy
Efficiency Act of 2007' (H.R.6) requires utilities to
produce or purchase at least 25 percent of their
electricity from renewable resources such as wind,
solar, or biomass by 2025. The Senate passed Salazar's
amendment by voice vote.
http://www.9news.com/rss/article.aspx?storyid=72060
SRI Tackles Climate Change
Maggie Shea - HedgeWorld Daily News
CHICAGO (HedgeWorld.com)-Although the idea behind
socially responsible investing-doing well by doing
good-isn't new, the definition of SRI continues to
incorporate new areas, the latest being global climate
change. Global energy consumption is rising,
Peter Fusaro, chairman of Global Change Associates Inc.
in New York, told attendees at the Managed Funds
Association Forum in Chicago on Tuesday [June 12]. And
that means more carbon emissions, but also a profitable
investment opportunity.
http://www6.lexisnexis.com/publisher/EndUser?Action=UserDisplayFullDocument&orgId=1925&topicId=100002042&docId=l:626896079&start=10&dateId=20070614
Biofuels Could Lead to Mass Hunger Deaths - UN Envoy
Stephanie Nebehay - REUTERS
GENEVA - Diverting sugar and maize for biofuels could
lead to hundreds of thousands of deaths from hunger
worldwide, the United Nations' food envoy warned on
Thursday.
http://www.planetark.com/dailynewsstory.cfm/newsid/42617/story.htm
Ethanol Group Blames Oil Prices for Costly US Food
Christopher Doering and Timothy Gardner - REUTERS
WASHINGTON/NEW YORK - Blame surging oil and gasoline
prices for driving up the cost of US groceries, the
ethanol industry said on Thursday, defending itself
from charges that the corn price spike was making food
more expensive.
http://www.planetark.com/dailynewsstory.cfm/newsid/42606/story.htm
Boeing shifts green pressure onto engine makers
Bill Rigby - Reuters
PARIS - The head of Boeing Co.'s commercial aircraft
unit on Sunday backed a call by rival Airbus to work
closely on producing more environmentally friendly
planes, but said real progress was the responsibility
of jet engine makers, rather than plane builders.
http://www.publicbroadcasting.net/wbur/news.newsmain?action=article&ARTICLE_ID=1099581
Summit called to help cut emissions by half
David Gow and Dan Milmo - Gulf Times
LONDON: Airbus’s chief executive has called for a
summit of the world’s aircraft and engine manufacturers
to discuss measures to cut carbon dioxide emissions.
Louis Gallois said that manufacturers and airlines need
to work together to tackle the challenge posed by
climate change. Aircraft emissions account for just
over 3% of all emissions but are rising dramatically.
http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=155642&version=1&template_id=48&parent_id=28
Military looks at synthetic fuel for bombers and
fighters
Don Phillips - International Herald Tribune
WASHINGTON: The U.S. Air Force has decided to push
development of a new type of fuel to power its bombers
and fighters, mixing conventional jet fuel with
nonpetroleum-based fuels that could eventually end
military dependence on foreign sources of oil.
http://www.iht.com/articles/2007/06/17/business/ravbio.php
US Emissionary positions
The president's new policies on global warming
The Economist
Despite the president's change of heart, carbon policy
remains contentious
ASK Washington's pundits about America's future policy
on global warming, and most of them will tell you that
things are changing too quickly to make firm
predictions. Who, after all, could have foreseen that
George Bush would overcome his reluctance to stem
emissions of greenhouse gases—especially under the
auspices of the United Nations—and agree to both at
last week's summit of rich countries in Germany?
http://www6.lexisnexis.com/publisher/EndUser?Action=UserDisplayFullDocument&orgId=1925&topicId=100002042&docId=l:626748908&start=3&dateId=20070616
**JK – I’m trying to get past this ill-worded headline
and onto the story.
Legislating energy a tough job, but Congress must do
it
Honolulu Star Bulletin
CHANCES that Congress will adopt legislation necessary
to move the nation away from reliance on imported oil
and reduce greenhouse gas emissions have dimmed as
short-sighted lawmakers have been unable to set aside
their narrow interests.
http://starbulletin.com/2007/06/16/editorial/editorial01.html
US Senate Set to Act on Renewable Utility Plan
Chris Baltimore - REUTERS
WASHINGTON - The fate of a proposal in the US Senate to
require US utilities to get 15 percent of electricity
supply from renewable sources by 2020 could come down
to which way the wind blows - literally.
http://www.planetark.com/dailynewsstory.cfm/newsid/42622/story.htm
DOE to Help Manufacturers Increase Energy Efficiency
GreenBiz.com
WASHINGTON - Through a new agreement with the National
Association of Manufacturers, the Department of Energy
will help speed the adoption of energy management
programs, clean and efficient technologies and
energy-intensity reduction programs.
http://www.greenbiz.com/news/news_third.cfm?NewsID=35280
Indians speak forcefully on climate
US tribes join discourse on global warming
John Donnelly - The Boston Globe
WEST FACE OF MT. MOOSILAUKE, N.H. -- Talking Hawk stood
above the South Branch of the Baker River one warm
spring day recently and grimaced.
"It's August color," he said of the tea-colored river.
"It's not normal."
http://www.boston.com/news/nation/articles/2007/06/17/indians_speak_forcefully_on_climate/
Food Grease to Fuel Cars in California
REUTERS
NEW YORK - French fry grease is getting a second life
as a fuel for diesel vehicles in Northern California.
Supermarkets, cafeterias and restaurants like Kentucky
Fried Chicken, are partnering with California biodiesel
company Energy Alternative Solutions, Inc. to recycle
food waste into alternative fuel.
http://www.planetark.com/dailynewsstory.cfm/newsid/42627/story.htm
Coming soon to a pump near you
Several states including Calif. are mandating an
ethanol-gasoline mixture
Garance Burke - Associated Press
FRESNO - Gasoline sold in the Golden State will include
up to 10 percent ethanol, California air managers
decided Thursday, a move the renewable fuels industry
says will shift the burgeoning ethanol market into high
gear.
http://www.presstelegram.com/ci_6154568?source=most_viewed
Rendell's energy plan progressing in state House, but
not in state Senate
AP
HARRISBURG - Proposals by Gov. Ed Rendell to expand the
use of alternative energy and fuels and encourage
conservation are scheduled for votes in the House of
Representatives next week, but likely face a much
longer road in the Senate. The three major pieces
of legislation would make numerous additions to state
laws, such as allowing tightly regulated utilities more
freedom to buy and sell electricity in a competitive
market and giving a quasi-state agency the power to
become an electricity broker.
http://www.thecourierexpress.com/site/news.cfm?newsid=18485603&BRD=2758&PAG=461&dept_id=572984&rfi=6
DEQ wants mercury emissions curbed
D. E. Smoot - Muskogee Phoenix
The Oklahoma Department of Environmental Quality is
drafting rules that would curb mercury emissions from
coal-fired power plants.
http://www.muskogeephoenix.com/local/local_story_168000021.html
Illinois' great energy hunt
Driving the state in search of corn, coal and me-first
politics
Jim Tankersley - Chicago Tribune
MANTENO, Ill. -- Coal burrows in gentle hills near
Carbondale, corn sprouts ankle-high from the black
earth around Bloomington, and outside Urbana, Shaq-size
grass sways in a professor's test field.
http://www.chicagotribune.com/news/nationworld/chi-energy_bdjun17,1,6008997.story?track=rss&ctrack=1&cset=true
Monsanto Boosts 2007 Profit Forecast on Corn Seeds
Jack Kaskey - Bloomberg
Monsanto Co., the world's biggest seed producer,
boosted its profit forecast for fiscal 2007 as rising
demand for ethanol and animal feed led to a surge in
U.S. corn planting. The shares rose to a record.
http://www.bloomberg.com/apps/news?pid=20601103&sid=arjHenKh7wa0
Exxon Says it Never Doubted Climate Change Threat
Gerard Wynn - REUTERS
LONDON - Oil company Exxon Mobil Corp. never in the
past decade doubted the risk from climate change, its
global spokesman Kenneth Cohen said on Thursday, in a
latest attempt to improve its green credentials.
http://www.planetark.com/dailynewsstory.cfm/newsid/42616/story.htm
Zero-Emissions Recycling Machine Turns Auto Parts to
Fuel
ClimateBiz.com
WEST BERLIN, N.J. - Gershow Recycling has become the
first company to put to use a new, environmentally
friendly auto scrap recycling machine that cuts
emissions, and saves energy by recycling what would
otherwise become waste.
http://www.greenbiz.com/news/news_third.cfm?NewsID=35281
More rental companies offer hybrid vehicles
BREE FOWLER - Associated Press
NEW YORK - The increased demand for "green" vehicles is
spilling over to the rental car counter, where many
more drivers will soon be able to choose a hybrid.
Hertz Global Holdings Inc. will spend $68 million to
add 3,400 Toyota Prius hybrids to its fleets by 2008,
the company said. And Avis Budget Group Inc. said this
week it plans to make 1,000 hybrid Prius vehicles
available for rent as early as next week.
http://www.kentucky.com/101/story/99568.html
Hybrids draw interest, but few local sales
High gas prices prompt more buyers to take a look
Matt Glynn - The Buffalo News
While gas prices remain above $3 per gallon to the
frustration of drivers, the Toyota Prius is riding
high.
The hybrid car enjoyed its best sales month ever in
May. And from January through May, sales of the
nation’s top-selling hybrid doubled from the same
period in 2006.
http://www.buffalonews.com/145/story/100602.html
Pratt & Whitney Canada Brings Greener Engines to
Market
Press Release
New engines will offer superior performance in
emissions, noise and operating economics
PARIS AIR SHOW, PARIS, FRANCE - Pratt & Whitney Canada
Corp. (P&WC) is leading the green evolution in
aerospace with its newest generation of engine
technologies and environmental stewardship across all
its segments, including business and regional aircraft
and helicopters. P&WC is a United Technologies (NYSE:UTX
- News) company.
http://biz.yahoo.com/iw/070617/0267246.html
Great Lakes show improvement, but concerns remain
Dan Schneider - Associated Press
TORONTO — The health of the Great Lakes ecosystem is
improving in some ways, but population growth, climate
change and invasive species continue to raise troubling
concerns about the future of the waters, according to a
new report by Environment Canada and the U.S.
Environmental Protection Agency.
http://www.mininggazette.com/stories/articles.asp?articleID=7456
Vancouver envisions radicchio on its rooftops
The Canadian city sees food-producing gardens in urban
residential developments as the wave of the future.
Linda Baker - Los Angeles Times
The residential skyscrapers in downtown Vancouver,
Canada, are already covered with green. Rooftops and
balconies overflow with ornamental vines, shrubs, even
midsize magnolia and maple trees. And now, there's
more.
Vancouver is launching a novel green initiative aimed
at bringing food-producing gardens to the city's
high-density developments. In what may be a first for a
North American city, municipal planners have crafted a
set of "urban agriculture" conditions for a new
downtown neighborhood: Southeast False Creek, an
80-acre mixed-use community springing up on the former
site of a shipyard.
http://www.latimes.com/classified/realestate/news/la-re-green17jun17,0,4361326.story?track=rss
Europe
EU calls to accelerate efforts on gas emissions
MaltaMedia News
Malta was one of the countries who saw increase in
greenhouse gas emissions in 2005 along with Austria,
Bulgaria, Greece, Hungary, Ireland, Italy, Latvia,
Lithuania, Portugal and Slovenia, EU Observer reported.
http://www.maltamedia.com/artman2/publish/eu/article_2290.shtml
Electricity generators gain from emissions trading
Ed Crooks - Financial Times
Britain’s electricity generators could make windfall
profits of about £1.5bn a year from the European
Union’s emissions trading scheme, industry estimates
suggest, raising further questions about the operation
of the programme intended to combat global warming.
http://www.ft.com/cms/s/4c7709e4-1cea-11dc-9b58-000b5df10621.html
Easyjet Promotes New "Green" Aircraft Design
Pete Harrison - REUTERS
LONDON - British low-cost airline easyJet has unveiled
its vision of a shorthaul aircraft that it hopes will
generate 50 percent less CO2 than its current planes
and can be delivered by 2015.
http://www.planetark.com/dailynewsstory.cfm/newsid/42611/story.htm
A calculator to help save the planet
Official website will tell us how much carbon dioxide
we are each producing and how to cut it
Juliette Jowit - The Observer
An official calculator that enables every person in
Britain to work out how much they are contributing to
global warming will be launched by the government this
week.
http://politics.guardian.co.uk/green/story/0,,2105054,00.html
World Utilities Aim For Lower-Carbon Energy - Pwc
REUTERS
LONDON - The number of utilities expecting renewable
and nuclear power to be a bigger part of the future
energy mix has more than doubled since last year,
according to a survey published by
PricewaterhouseCoopers.
http://www.planetark.com/dailynewsstory.cfm/newsid/42621/story.htm
Russia steps up efforts to reduce greenhouse gas
emission: official
AFP
Russia is to intensify efforts to reduce its greenhouse
gas emissions in order to stay in compliance with the
Kyoto treaty as its economy rebounds from the economic
collapse of the early 1990s, the country's deputy
economic development minister said.
http://rawstory.com/news/afp/Russia_steps_up_efforts_to_reduce_g_06162007.html
Informal Talks Help Ministers Shape New Climate
Regime
ENS
RIKSGRANSEN, Sweden - "We came further in our
discussions and achieved much more than I imagined that
we would," Swedish Environment Minister Andreas
Carlgren said Thursday after a four day informal
meeting on climate change attended by officials from 30
countries at the invitation of the Swedish government.
http://www.ens-newswire.com/ens/jun2007/2007-06-15-03.asp
Asia
China Considers Spelling Out Own Greenhouse Gas
Goals
Chris Buckley - REUTERS
BEIJING - China will hold down per-capita volumes of
greenhouse gases causing global warming and is studying
how to spell out domestic emissions goals, officials
said on Thursday, seeking to stress cooperation on the
issue.
http://www.planetark.com/dailynewsstory.cfm/newsid/42614/story.htm
China's Minimum CO2 Price Puts Off Small Projects
Neil Chatterjee - REUTERS
SINGAPORE - China's growth as the top spot for projects
to cut emissions under the Kyoto Protocol is likely to
slow, with rules on a minimum price for credits
deterring small projects and keeping the cost of such
offsets high.
http://www.planetark.com/dailynewsstory.cfm/newsid/42618/story.htm
Bracks's $1bn plan for desal operation
Rick Wallace - The Australian
THE Bracks Government will announce plans within days
for a $1billion-plus desalination plant southwest of
Melbourne as the centrepiece of its strategy to boost
the city's dwindling water supplies.
http://www.theaustralian.news.com.au/story/0,20867,21922642-2702,00.html
Gas a natural transition to low carbon
Andrew Trounson - The Australian
EXECUTIVES at Australian energy utilities are viewing
natural gas as a key transition fuel to a low-carbon
economy and have no expectation of nuclear power taking
off here in the near or medium term.
http://www.theaustralian.news.com.au/story/0,20867,21921437-643,00.html
Australians taking New Zealand more seriously?
Greg Ansley - New Zealand Herald
It is mid-afternoon and the cavernous halls of the
Australian Technology Park in Redfern thunder to a
deluge that turns Sydney streets into torrents. Senior
officials kick their heels in the roar as Prime
Minister Helen Clark is interviewed by a small queue of
Australian journalists.
http://www.nzherald.co.nz/section/1/story.cfm?c_id=1&objectid=10445943
INTERVIEW: Zipcar targets corporates with green car
club
James Murray - businessGreen
Doug Williams of Zipcar explains why car clubs can work
for businesses just as well as they work for green
consumers
BusinessGreen: So what is Zipcar?
Doug Williams: We are a car club company that has over
100,000 members and over 3,000 cars in 23 cities in the
US, Canada and the UK. The concept grew out of
environmental concerns and works on the simple premise
that it is better for 20 to 40 people living and
working in a city to share a car than each own their
own car.
http://www.businessgreen.com/2007/06/interview_zipca_1.html
CAFO controversy
mlive.com
Factory farms known as concentrated animal feeding
operations increase farmers' profits, but
environmental, economic and social problems run amok.
http://www.mlive.com/muchronicle/factoryfarm/#
Wildfire, Walleyes, and Wine
Latest predictions for life in North America's changing
climate
Susan Milius - Science News
Considering how much trouble two people have deciding
what movie to see, the most remarkable thing about a
new set of global-climate predictions may be that it
exists at all. More than one hundred nations belong to
the Intergovernmental Panel on Climate Change (IPCC),
and for the panel to speak, the representatives of all
those nations have to agree.
http://www.sciencenews.org/articles/20070616/bob9.asp
Despite Appeal of Wind Energy, Projects Have Foes
Kevin Miller - Bangor Daily News
Stetson Mountain is more ridgeline than mountain,
running like a backbone for six miles through the
rolling hills that dominate Washington County's
northernmost border with Canada.
Moderate winds sweep across those hills from Canada and
pick up speed as they zoom up Stetson Mountain, which
at roughly 1,100 feet is among the tallest ridges in
this sparsely peopled corner of Maine.
http://www.redorbit.com/news/science/969981/despite_appeal_of_wind_energy_projects_have_foes/index.html?source=r_science
Global warming winners? Canada, Russia, U.S. Rust
Belt might see benefit
MICHAEL HILL - Associated Press
GHENT, N.Y. - It's not in Al Gore's PowerPoint
presentation, but there are some upsides to global
warming.
Northern homes could save on heating fuel. Rust Belt
cities might stop losing snowbirds to the South.
Canadian farmers could harvest bumper crops. Greenland
may become awash in cod and oil riches. Shippers could
count on an Arctic shortcut between the Atlantic and
Pacific. Forests may expand. Mongolia could see a go-go
economy.
http://www.nwitimes.com/articles/2007/06/17//business/business/docdd25b6d65906ae52862572fb005d5f99.txt
Canadian Policies for Deep Greenhouse Gas Reductions
(posted June 10, 2007)
Mark Jaccard and Nic Rivers – School of Resource and
Environmental Management, Simon Fraser University
This paper analyzes a scenario in which Canada reduces
its domestic GHG emissions by about 60% from
today’s level by 2050. The objective of this paper is
to describe a set of appropriate
domestic policies for meeting this long-term goal of
deep GHG reductions.
http://www.irpp.org/cpa/archive/jaccard_rivers.pdf
Energy and Emissions - (posted June 8, 2007)
http://www.energyandemissions.com/
The Hartman Report on Sustainability: Understanding
the Consumer Perspective - (posted May 25, 2007)
http://www.hartman-group.com/products/reportSustainability2007.html
Order form to purchase this report available on this
site.
Solar Power Set to Shine Brightly - (posted May 24,
2007)
The solar industry is poised for a rapid decline in
costs that will make it a mainstream power option in
the next few years,according to a new assessment by the
Worldwatch Institute in Washington, D.C., and the
Prometheus Institute in Cambridge, Massachusetts.
http://www.worldwatch.org/node/5086
Five Year Report Tables
http://www.environmentalintegrity.org/pubs/FiveYearReport_Tables.pdf
International Energy Outlook 2007 - (posted May 2007)
The International Energy Outlook 2007 (IEO2007)
presents an assessment by the Energy Information
Administration (EIA) of the outlook for international
energy markets through 2030. U.S. projections appearing
in IEO2007 are consistent with those published in EIA’s
Annual Energy Outlook 2007 (AEO2007), which was
prepared using the National Energy Modeling System (NEMS).
http://www.eia.doe.gov/oiaf/ieo/index.html
Evaluation of World Market Potential for LPG and CNG
Vehicles and Alternative Fuel Conversion Equipment in
the OE and Aftermarket - posted April 30, 2007
http://www.researchandmarkets.com/reports/c55447
subscription site
Saving the Planet, One Block at a Time
June 4 and June 18th, 7:30 p.m. Santa Monica Library
Auditorium, 601 Santa Monica Boulevard, Santa Monica
Santa Monica officials, community members and SolarCity
representatives present the latest information on
sustainable
community planning, and how measures like locally-produced,grid-connected
solar power can make a difference.
Seating for this event is limited. This event is open
to the public and attendees are encouraged to register
at
888-SOL-CITY | 888-765-2489 or online at http://www.solarcity.com
and click Events and Events registration.
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/05-29-2007/0004597412&EDATE=
Carbon Market Developments
A Live Phone & Web Seminar (CPE Approved)
June 27th, 1:00 pm to 2:45 pm EST
This seminar is on the convergence of clean tech/clean
energy and emissions and renewable energy credit
trading.
This seminar will focus on a deeper analysis of carbon
market development including emissions reductions for
SO2 and NOX.
Webinar leaders, Peter C. Fusaro and David South, are
deeply involved in market developments for green
trading, clean technology, and creating the template
for market acceleration. The environmental shift
underway in energy and cleantech markets can not be
understated. There is a need to know how the Clean Air
Interstate Rules and looming carbon regime in the US
will drive new investment in cleaner technology.
The seminar will bring benefits to planners, traders,
venture capital and hedge fund managers, lawyers and
government officials. Click Here to Register
http://www.pgsenergy.com/online/f112.html
The Global Institute for Social Innovation, London
Business School
London, UK - (July 18th-22nd, 2007)
The Global Institute for Social Innovation is a
fellowship program that educates young leaders on
corporate social responsibility, social
entrepreneurship, and sustainable development. From
July 19th to July 22nd, young leaders from across the
globe will come together to attend sessions taught by
leading academics, corporate innovators, social
entrepreneurs, activists, and government officials.
http://www.startingbloc.org/London2007
National Energy conference for Educators
Santa Fe, NM - (July 22-26 2007) and Washington, DC -
(July 15-19 2007)
The NEED National Energy Conferences for Educators are
hosted each July to train teachers to incorporate
energy programs into their classroom and
extracurricular activities. In 2006, over 300 educators
participated thanks to the sponsorship of many local,
state, and national sponsors. These five-day programs
cover all aspects of energy education and offer three
graduate credits to participating educators. Each
conference includes a one-day field experience,
allowing educators an opportunity to learn about a
variety of energy topics. Three graduate hours are
offered through Virginia Commonwealth University.
http://www.need.org/summertraining
Waterpower XV
Chattanooga, TN - (July 23-26 2007)
With a core foundation of carefully reviewed technical
papers, Waterpower XV provides a unique learning
opportunity for hydro professionals of every level.
Individuals new to the industry can receive the
training needed to further their professional
development. Industry veterans can expand their
knowledge on specific areas of interest. All attendees
will benefit from sharing proven strategies and lessons
learned.
http://www.hcipub.com/wp/index.asp
European Photovoltanic Solar Energy Conference and
Exhibition
Milan (Sept 3-7 2007)
From 3rd to 7th of September 2007 the 22nd European
Photovoltaic Solar Energy Conference and Exhibition
will be held at the FIERA MILANO - Exhibition &
Convention Centre in Milan, Italy.
http://www.photovoltaic-conference.com/
ISE Solar World Congress 2007
Beijing - (Sept 18-21 2007)
The International Solar Energy Society and the Chinese
Solar Energy Society warmly welcome you to the ISES
Solar World Congress 2007 (SWC2007) in Beijing, China,
from September 18 to 21, 2007.
http://www.swc2007.cn/english/indexEn.htm
Border Energy Forum XIV
San Diego, CA - (Oct 18-19 2007)
A vibrant and growing economy consistent with a clean
and healthy environment for both sides of the border
has been the vision shared by Border Energy Forum
participants and organizers since the first forum was
held in El Paso in 1994.
http://www.glo.state.tx.us/energy/border/
67th Annnual International Water Conference Orlando,
FL - (Oct 21-25 2007)
As the preeminent international technical forum in the
field, the IWC will bring together end users,
researchers, practicing engineers, managers, educators,
suppliers and contractors. It is dedicated to advancing
new developments in the treatment, use and reuse of
water for industrial and engineering purposes.
http://www.eswp.com/water/
5th Annual CBSR Summit on Corporate Social
Responsibility
Wednesday, November 7, 2007
Westin Harbour Castle - Toronto, Canada
Canadian companies are facing greater pressure than
ever before to improve their environmental and social
performance. While government policies and programs are
ever-changing, companies are beginning to adapt to new
challenges and explore innovative commercial
opportunities.
http://cbsr.ca/csrevents/cbsrevents.htm
20th World Energy Congress
Rome, Italy - (Nov 10-15 2007)
The 20TH World Energy Congress and Exhibition has been
created by putting together different activities for a
unique event, including the participation in debates
during the four-day Congress and the possibility of
participating both in the Exhibition and Poster
Session, as well as in Round Tables, Technical Visits,
Youth Programme, Social Programme, Pre and Post-tours
and other collateral events at the same time and in a
single place.
http://www.rome2007.it/home/home.asp
POWER-GEN Renewable Energy & Fuels 2008
February 19-21, 2008
Rio All-Suite Hotel & Casino, Las Vegas, NV
In its fifth year of partnership, PennWell Corporation
and the American Council On Renewable Energy (ACORE)
present the industry's premier event covering the most
important trends and issues impacting the industry.
Bringing the wind, solar, biomass and alternative
fuels, hydro and geothermal sectors together for three
days of information exchange and fast-track networking,
POWER-GEN Renewable Energy & Fuels attracts the biggest
names in renewables to discuss technical, strategic,
regulatory, structural and economic issues.
http://pgre08.events.pennnet.com/fl/index.cfm
Difference between 2006 and 2007 Daily Average YTD
Tonnes: 1,447,171 (2007 daily
average increase in tonnes over 2006 daily average)
Percentage: +87.31% (increase of daily
average from 2006 to 2007)
ECX CCX Carbon Market Daily: 12 June 2007
End-of-day Volume 12 June 2007 (all figures measured in
metric tonnes except for CCX SFI Futures, SFI Options
and OS Futures which are measured in contracts)
International Securities Exchange CCM ALT ENG .POW (ISE)
The ISE Alternative Energy Index includes 18 companies
engaged in the development of technology relating to
alternative energy sources such as: geothermal heat,
hydrogen/fuel cell, hydropower, nuclear fusion, solar
energy, and wind energy.
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