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Download Current Program Development: EPA`s Climate Leaders
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Voluntary Corporate Climate Change Activities and Drivers for Participation Cynthia Cummis Climate Protection Partnerships Division U.S. EPA A Number of Climate Change Developments Affecting U.S. Companies Federal State Non-Governmental Organizations International Financial Community Federal Developments EPA’s Climate Leaders companies complete corporate-wide GHG inventory and track progress on entity-wide targets currently 67 Partners with 28 announced targets Dept. of Energy’s 1605(b) Program allows companies to register entity-based reductions and to report other information revised version to be released in 2005 Climate VISION sector agreements includes agreements with 13 industry sectors commitments range from 3-10% intensity improvements BRT has goal of 100% participation of members in Climate RESOLVE State Developments Registries in place CA, NH, WI others in development GHG reduction programs CA auto efficiency, OR power plant CO2 mitigation, MA, NH - CO2 cap & trade, North East RGGI – cap and trade, WI, ME, CT – reporting requirements GHG reduction goals NE/E. Canada, NY, CT WA, OR and CA under development NGO Developments Chicago Climate Exchange GHG emission reduction and trading pilot program WWF’s Climate Savers works with 8 companies that agreed to absolute GHG reduction targets ED’s Partnership for Climate Action companies set reduction target, publicly report, and trade emissions credits World Economic Forum GHG Registry only global GHG registry International Developments Kyoto comes into force in February 2005 Emissions reduction and trading schemes Japan - 6% below 1990, Environment Ministry proposing carbon tax EU - 8% below 1990, trading scheme began January 2005 involving 12,000 facilities Canada - 6% below 1990, trading scheme planned with price cap Voluntary GHG reporting schemes WRI/WBCSD Corporate GHG Protocol (www.ghgprotocol.org) - published second edition in 2004 ISO 14000 series GHG accounting standards – Draft International Standard available for comment Financial Community Developments 28 shareholder resolutions filed on climate change in 2004 - up from six in 2001 and 19 in 2002. i.e. Cinergy, AEP, General Motors New investor initiatives: UN Investor Summit on Climate Risk in 2004 explored connection between climate risk and fiduciary responsibility (+$1 trillion in assets represented) 10-point “Call for Action” – 10 major investors request steps by the U.S. Securities and Exchange Commission, corporate boards, and Wall Street firms to increase disclosure of the risks posed by climate change (+$250 billion in assets) Carbon Disclosure Project requests 500 largest companies disclose GHG emissions (95 investors are signatories,+$9 trillion assets) Drivers for Participation in Voluntary Initiatives demonstrate effectiveness of voluntary approach cost savings shareholder resolutions risk management approach competitive advantage corporate image CEO believes it is the right thing to do influence direction of climate change policy educate themselves on the issue The Company We Keep Contact Information Cynthia Cummis U.S. EPA Climate Protection Partnerships Division 202/343-9232 [email protected]