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Papers from Other Sources
Draft
Strategic Plan for Climate Change Science Program Available for Comment:
Public comments are now
being accepted for the draft strategic plan for the combined U.S. Global
Change Research Program and Climate Change Research Initiative, released
on November 11, 2002, by the U.S. Climate Change Science Program. The
program, a new management structure, was formed by President Bush in
February to coordinate and direct U.S. research efforts in the areas of
climate and global change. The draft stategic plan includes chapters on
climate quality observations and monitoring, atmospheric composition,
water cycle, carbon cycle, ecosystems, human contributions and responses
to environmental change, and several other topics. Public comments will
be accepted until January 13, 2003. Draft Stategic Plan for the
Climate Change Science Program is available at
www.climatescience.gov/Library/stratplan2003/default.htm.
Financial Institutions Unaware of
Climate Change Impacts: Financial institutions are unaware of
the gravity of climate change, or see no financial reason to tackle it,
according to a new report by the United Nations Environment Programme's
Finance Initiatives. The financial sector has a key role to play in
delivering market solutions to climate change, such as greenhouse gas
emissions trading markets, the report says. The report identifies the
cognitive, political, analytical, and market operational barriers that
are holding back institutions from a more proactive stance, and makes
recommendations for financial institutions and policymakers. "Climate
Change and the Financial Services Industry" is available at
http://unepfi.net/cc/ceobriefing_ccwg_unepfi.pdf
Carbon Cap-and-Trade Program Can Benefit
Energy Industries
Energy industry sectors could benefit under a carbon emissions
cap-and-trade program if they received more than nine percent of emission
allowances, according to a new study by the Center for Clean Air Policy.
If the remaining allowances are auctioned and the proceeds used to reduce
personal income tax rates, the cost to the U.S. economy would be cut
nearly in half compared to traditional grandfathering of allowances, the
study concludes. Results were based on carbon prices of $36 and $72 per
ton of carbon, estimated for global and Annex B greenhouse gas trading
programs. “Allowance Allocation: Who Wins and Loses Under a Carbon Dioxide
Control Program” is available at
http://www.ccap.org/pdf/ccap_cra_report.pdf.
“Safety Valve” Is a Practical Start to Reducing Emissions
Domestically, a “safety valve” for greenhouse gas emissions permits is a
practical means of “starting down the long road of reducing greenhouse gas
emissions,” according to a new study by Resources For the Future. A safety
valve stipulates that if the price of emissions permits rises above a set
amount, additional permits will be provided at a predetermined price,
thereby capping the costs of the emissions reduction policy. The United
States is at a point, the report states, where doing something is far
better than doing nothing, and the safety valve is the way to begin.
Internationally, it might be possible to incorporate the safety valve
concept into some future agreement, the study concludes. “Reducing Carbon
Emissions and Limiting Costs” is available at
http://www.rff.org/climatechangemorgenstern.pdf.
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