News from the Nicholas Institute
SPECIAL CLIMATE BILL EDITION April 24, 2009
A brief roundup of news and information about the Nicholas Institute for Environmental Policy Solutions at Duke University
1. INSTITUTE BOARD MEMBERS PROVIDE TESTIMONY ON CLIMATE BILL
Three Nicholas Institute Advisory Board members testified this week before a U.S. House committee in support of congressional action to address energy transformation and climate change. Each used the U.S. Climate Action Partnership (USCAP) Blueprint for Legislative Action, which they helped develop, as a yardstick for evaluating the American Clean Energy and Security Act of 2009.
Charles O. Holliday Jr., chairman of DuPont, provided an overview about the intersection of climate policy and industry. “Voluntary efforts alone will not solve the climate problem,” he said. “We can not allow the current economic conditions to slow our efforts.”
James E. Rogers, chairman, CEO, and president of Duke Energy, drew attention to some of the most difficult decisions in the climate debate, such as whether to auction or allocate pollution credits. He told the committee: “Just as I have spoken of the need…to move forward to address climate change, I have also discussed the importance of getting carbon legislation right,” so it works for the economy as well as the environment.
Frances Beinecke, president of the Natural Resources Defense Council, provided context on climate change itself. “Climate scientists warn us that we face extreme dangers if global average temperatures are allowed to increase by more than two degrees Fahrenheit from today's levels,” she said.
More information:
http://www.nicholas.duke.edu/institute/news-boardtestimony.html
2. CARBON MARKET CRITICAL TO LEGISLATION’S SUCCESS, ANDA SAYS
Establishing a transparent and well-overseen carbon market will be critical to the success of the American Clean Energy and Security Act of 2009, says Jon Anda, visiting fellow at the Nicholas Institute. “The draft bill’s language sets the right tone to create a carbon market that is fair, efficient and responsive to lessons learned in the financial crisis – but the devil is in the details,” he says. “Issues such as the potentially small initial ‘float’ of allowances and the listed trading of derivatives must be carefully considered and executed.”
Anda is scheduled to present testimony to the U.S. House Energy and Commerce Committee in a hearing today (Friday, April 24). His testimony will be posted at www.nicholas.duke.edu/institute following the hearing.
For the past two-and-a-half years, Anda has focused on creating a framework for a U.S. carbon market. Prior to joining the Institute as visiting fellow in 2008, he was president of the Environmental Markets Network at the Environmental Defense Fund. Before that, from 1986 to 2006, he was with Morgan Stanley where he served in a variety of roles, including vice chairman, global head of capital markets, head of corporate finance, and head of the Institutional Equity and Investment Banking divisions for the Asia region.
More information:
http://www.nicholas.duke.edu/institute/news-andatestimony.html
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