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Please join us on May 8, 2008 for a half-day conference devoted to discussion on federal and state climate change legislation and corporate strategies for thriving in a carbon-constrained economy.
Regardless of whether Congress enacts climate change legislation in 2008, many industry sectors will have to begin operating under greenhouse gas cap-and-trade schemes in the very near future. It is already a reality for firms in the ten northeastern states that make up the Regional Greenhouse Gas Initiative (“RGGI”). Auctioning of emissions allowances under RGGI is slated to commence in June of 2008. Other states, such as California and the other western states that have joined the Western Climate Initiative, are moving in this same direction.
The stakes are high. Greenhouse gas ("GHG") emissions reductions, particularly of carbon dioxide, will come at a high price. New statutory requirements will spur technological innovation at a rate unprecedented after the enactment of prior environmental laws. Further, observers predict that between and within industries as much as $300 billion will change hands, not only due to the buying and selling of emissions rights, but also in connection with the initial government allocation of those rights -- including to greener, less carbon intensive energy sources.
Governmental and non-governmental institutions across US society are mobilizing to address the climate challenge. Nowhere is that challenge greater than in the corporate manufacturing, energy, transportation, and financial sectors. For some companies the carbon constrained economy presents risks, but careful planning can help minimize their impact. For other companies, climate change legislation presents enormous opportunities. Regardless of where their interests lie, attendees will leave the conference better able to prepare their businesses for the future.
Keynote address: We have extended an invitation to New York State Attorney General Andrew M. Cuomo to deliver the keynote address. Our luncheon speaker will be Nigel Purvis, President, Climate Advisers Inc., and former Deputy Assistant Secretary for Oceans, Environment, and Science in the Department of State who will unveil a major new report setting out recommendations for "New Directions in US Climate Change Foreign Policy."
ABOUT THE PROGRAM
NATIONAL FRAMEWORK FOR GREENHOUSE GAS REGULATION
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Panelists will examine the basic federal pathways in play now for managing GHGs, in particular the Lieberman-Warner bill. Issues:
Speakers:
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STATE INITIATIVES
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Although much of the media focus has been on the possibility of national climate change legislation, the first source of climate change requirements almost certainly will be the myriad state initiatives, such at RGGI, which covers most of the northeastern states. Issues:
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CORPORATE STRATEGIES FOR THRIVING UNDER CAP-AND-TRADE
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The impacts of cap-and-trade legislation will be far-reaching. Obviously, the most immediate and significant impacts will fall on the fossil fuel producers, processors and importers. Next in line are the energy-intensive manufacturing sectors (e.g., iron, steel, aluminum, cement, etc.). The impacts, however, will be felt far beyond these sectors. Companies researching and promoting low carbon technologies will have new opportunities. Financial institutions must decide whom to invest in and under what circumstances; insurance companies may have opportunities to develop new products and services. We will explore practices that many different sectors are using to survive - even thrive - in the new carbon-constrained economy. Issues:
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For more information about this event, please contact Daniel Kreeger.
To register for this complimentary public meeting, please click here.