Transcript CAPA CO2 Timing and Targets - Sustainable Energy Institute

Sustainable Energy Institute
Climate Change Discussion
Michael Bradley,
M.J. Bradley & Associates, Inc.
September 24, 2004
Recent Developments
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New Bush Administration report “Our Changing Planet”
implicates human causes of climate change
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States continue to develop mandatory CO2 reduction programs
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Cover Stories on Climate Change in BusinessWeek and
National Geographic
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Attorneys General from 7 states and NY city filed suit against
the 5 largest CO2-emitting electric generating companies
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Shareholders have demanded climate change risk reports from
many of the largest companies
CEG Companies supporting
CAPA
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Calpine Corporation
Entergy Corporation
Exelon Corporation
Florida Power & Light
NiSource, Inc.
PG&E Corporation
Public Service Enterprise Group, Inc.
Sempra Energy
Clean Energy Group supports Multi-Pollutant Legislation
• Multi-Pollutant Legislation:
– Provides business and investment certainty
– Is more cost-effective than dealing with one pollutant at a time
– Can utilize market forces to minimize costs
• CAPA addresses CO2 in the context of multi-pollutant
legislation to provide investment certainty:
– Controlling greenhouse gases (GHG) is inevitable; more than 25 states have
already established GHG initiatives
– CAPA establishes a flexible, market-based approach that stabilizes CO2
emissions at today’s levels and creates the framework for more robust CO2
control efforts
– CAPA creates a national level playing field in terms of regulatory requirements
Targets under CAPA
2009:
2005 Levels
(2.6 Billion Tons + Flexibility/Offsets)
2013:
2001 Levels
(2.4 Billion Tons + Flexibility/Offsets)
GHG Coalition Members
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BP America, Inc.
Calpine Corporation
Consolidated Edison, Inc.
National Energy and Gas Transmission, Inc.
Northeast Utilities
Pfizer, Inc.
Public Service Enterprise Group, Inc.
United Technologies Corporation
Waste Management, Inc.
RGGI
(Regional Greenhouse Gas Initiative)
• Step in developing a national model (which
is the preferred level of action)
• Strong Preference for Multi-State approach
instead of state-by-state
• GHG coalition members participating at
forefront of RGGI