What Are The Obstacles To Promoting Energy Efficiency

Often times, energy efficiency seems arrested in the demonstration project mode of operation.5 While three, four, and even ten demonstration projects contribute toward sustainable energy, institutional change is unlikely to take off at that level of activity. Furthermore, the perpetual demonstration mode of energy efficiency makes potential host country investors suspect that these approaches to energy management either cannot take root in economies in transition, or that they are flawed in...

Building On Successful Experience

The evolving regulatory landscape is still an open issue. On the horizon, we expect more states to consider and enact renewable portfolio standards (RPS) and GHG reduction systems. Presently, 28 states are acting on GHG and 19 states have RPS. In the U.S. SO2 program, we saw something that we might see for GHG and for renewables. Because so many states started to put together their own regulations that companies operating in a multistate environments finally told the federal government they...

Integrating Energy Efficiency Into Sustainable Energy Planning And Environmental Trading

Energy efficiency and demand-side management programs, while proven effective and much applauded, have generally been isolated from the mainstream of energy planning and use. However, there are hopeful signs of their integration into sustainable energy planning and programs to address climate change. In the U.S., Pennsylvania became the first state with a clean energy portfolio standard that includes demand-side management, and some utilities have begun to seek power supply proposals that...

Consistent And Common Economic Tools

An emissions trading program is primarily valuable as it puts a market price on the cost of emissions, thus allowing a company to make an informed choice among compliance options. However, it should be noted that a dysfunctional trading system would result in market prices that could lead to economically suboptimal decision-making. For an emission trading market to be efficient, target levels of emissions must be assigned in a consistent and coordinated fashion. With the U.S. SO2 program, there...

Market Opportunities And Risks In The Transition To A Carbonconstrained Economy

We are at the beginning of a major economic and social transition. For the financial markets and financial players, climate change and our response bring many new risks and new opportunities. On the negative side, new risks include carbon liabilities as well as potentially impaired credit quality of GHG-intensive borrowers. On the positive side, new or additional opportunities will open up for financing infrastructure development and clean technology as well as unprecedented opportunities to...

About the Contributors

Fusaro is the best-selling author of What Went Wrong At Enron publisher of Fusaro Focus, a bimonthly financial newsletter and chairman and founder of Global Change Associates, Inc., an energy and environmental advisory located in New York City since 1991. For 30 years, he has been at the forefront of energy and environmental change for 30 years. His accomplishments include working on the lead phase-down of gasoline in the 1970s fuel reformulation in the early 1990s in the United States...

Shareholder Resolutions

In addition to dialogue, or often as a means to initiate dialogue, some social investors file shareholder resolutions with companies in an effort to push for changes in social and environmental policies or reporting. These resolutions come to a vote by all shareholders at company annual meetings. While typically shareholder resolutions on social or environmental issues do not receive majority votes, even a significant smaller vote can send a strong message to management and induce a change. At...

The Corporate Governance Connection

The raft of corporate scandals over the last few years has also turned SRI analyst attention to corporate governance reform. These analysts now see that companies must have leading corporate governance practices in order to promote better handling of important social and environmental issues. Certain structural changes are needed to promote improved performance in these areas, such as board independence, board diversity, annual election of directors, board committee oversight of governance and...

By Sheila Slocum Hollis

The world is faced with sharply conflicting philosophies and political forces affecting the development, transportation, utilization, and conservation of energy resources. This presentation encapsulates the numerous and often contradictory trends that form the matrix underpinning contemporary energy law which ultimately affects any initiatives. Following my executive service in government 22 years ago, I co-authored a book entitled Energy Decision Making1. The book was written during a period...

Chevrontexacos Process For Integrating Ghg Emissions Management Into Capital Projects Planning

Capital projects in ChevronTexaco are managed according to the five-phase ChevronTexaco Project Development and Execution Process CPDEP 1. Identify and assess opportunities 2. Generate and select alternative s 3. Develop preferred alternative s Capital project teams begin their GHG analyses in Phase 1 or early Phase 2, as soon as enough information is available to allow emissions estimates. See the GHG evaluation flowchart in Figure 1. The screening tool allows a team to quickly develop a rough...

Ccx History And Objectives

Before reviewing CCX's developments since September 2003, it is valuable to state the motivation behind the establishment of CCX. The overarching goal of CCX is to turn the theory of greenhouse gas GHG emissions reduction and trading into a reality to prove that the concept can work in practice. Nine formal objectives of CCX were articulated during the design phase Demonstrate unambiguously that a cross-section of North American companies, schools, municipalities, and other entities can reach...

By Susanne Haefeli and Einar Telnes

With the Kyoto Protocol ratification having less impact on project developers, investors, insurers, and regulators than initially intended, these parties have been put in a difficult position to decide efficient measures to tackle the global climate-change challenge. The question arises then about how to generate a liquid CO2 market with great price transparency, many actors, and low entry and exit barriers in this highly uncertain context This chapter describes the present markets and prices...

White Green and Black Certificate Trading

The Italian Stefano Alaimo, Director, Environmental Markets Department Gestore del Mercato Elettrico SpA Expanding Markets for Renewable Energy Certificates Progress and Ed Holt, President, Ed Holt amp Associates Inc. Wind Energy Promoting a Cleaner Energy Future 81 Mark M. Little, Vice President, GE Energy

Emerging Issues In Rec Markets

Clearly, the REC markets are making progress. More states are creating demand through policy mandates and through growing green power options. Important tools are being created through REC product certification to a voluntary standard and through the development of regional and state REC tracking systems. Large corporate and institutional REC buyers are entering the market, adding credibility and significant demand. Renewable energy funds are beginning to facilitate long-term revenue streams to...

Perpetual Conservation Easement

A conservation easement is a legal agreement appended to the land deed that restricts the type and amount of development that may take place on private property. The easement holder should be a stable nonprofit 501 c 3 organization with the resources to annually monitor and ensure protection of the property for the length of the easement. If the easement-holding organization goes out of business, then the terms of the easement may be violated without monitoring and oversight of the easement...

Longterm Revenue Support For Recs

Even with the many societal and environmental benefits, renewable energy development requires continuing financial support. With out long-term contracts from credit-worthy buyers, renewable energy developers have difficulty in securing financing for their projects. Where monopoly markets and regulated rates of return still exist, vertically integrated utilities are the logical long-term buyers if they are interested. In more competitive markets with attendant higher risks, it is much harder to...

Green Certificate Mechanism

The Green Certificate Mechanism introduced a market mechanism in Italy to stimulate electricity production from renewable sources, with the goal of replacing the old CIP 6 92 feed-in tariff system. For some years ahead, we will have a transition phase in which both CIP 6 92 and GC mechanisms will function side by side. Indeed, renewable plant owners had the option of applying to remain in the CIP 6 92 system and have the right to sell electricity for eight years to GRTN Gestore della Rete di...

D

Dedicated companion fund, 126 Deforestation, 159, 161 Demand-side management programs, 205 Denmark, wind energy in, 85 Developing countries as sellers of greenhouse gas credits and allowances, 6 Devon Energy, 22 Disclosure, need for, 20-21 Divestitures, GHG analysis for, 116 Domini Social Investments LLC, 21 Double-selling, 79 Dow Jones Sustainability Index, xi Dreyfus Corporation, 21 Ducks Unlimited, Inc. DU , xxii, 139, 172-74 mission of, 159 DuPont Company, ix, xvii, 3, 72-73