Environmental Defense Fund Encouraged By Clinton Climate Plan

(22 Oct., 1997 — Washington) The Environmental Defense Fund (EDF) today thanked President Clinton for recommending a package of proposals for December’s international climate summit that could put the US on a path to early reductions of greenhouse gas emissions. EDF also urged the administration to swiftly implement its domestic proposals to foster early reductions of greenhouse gases. At the same time, EDF stated that it looked to the continuing international climate negotiations to strengthen the US, European, and Japanese positions now on the table. Negotiations reconvened this week in Bonn, Germany and the final sessions will be held in Kyoto, Japan from December 1 through 12.

“The President’s plan declares ‘open season’ on greenhouse gases and puts America’s business creativity to work for the environment. It creates strong incentives for industry to hunt down the largest possible cuts in pollution and quickly reverse the dangerous growth of US greenhouse gases,” said EDF executive director Fred Krupp.

“The President’s proposal puts the US in the thick of the negotiations rather than on the fringe. For the first time there is a good chance of a constructive outcome at Kyoto. We look to the negotiators to produce a final agreement that is stronger than any of the proposals by industrial nations that are now on the table,” said EDF atmospheric physicist Dr. Michael Oppenheimer.

The administration’s plan calls for emissions of greenhouse gases by industrial countries to return to a cap matching 1990 levels during the period 2008-2012, with further cuts below the capped level in the succeeding five years. The plan calls for reductions to be achieved in part through an international system of emissions trading that is expected to achieve maximum reductions at minimum cost. In addition, the plan provides incentives by enabling firms that reduce emissions early to earn emissions credits that they can save or sell in the future. The plan also provides tax credits for firms that invest in technologies related to efficiency and renewable energy. It also contains incentives for developing countries to participate in emissions reductions such as joint implementation for credit.

“Swift action is needed to begin the long process of bringing emissions down. Early cuts in emissions and incentives that spur innovation are the key to protecting Earth’s climate. The administration’s package of emissions credits for early reductions creates powerful incentives for the business community. If implemented, these incentives can help the US meet its greenhouse gas reduction target ahead of schedule, while helping industry create the new products that will keep our country’s economy growing,” said Dan Dudek EDF senior economist.

“International agreements are effective only if the will exists for domestic implementation. Just this week a Department of Energy analysis showed that emissions of greenhouse gases from cars, factories and power plants in the US rose sharply last year. The Clinton Administration must develop strong domestic proposals to turn around the destructive trend of emissions growth,” said Krupp.