About the Contributors

Peter C. 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 as well as in the Asia Pacific region; creating energy efficiency programs for the NY/NJ Port Authority, including the World Trade Center; pioneering gas and electricity energy efficiencies programs for Con Ed (Enlightened Energy) and Brooklyn Union; identifying fuel-switching opportunities to natural gas for utility and industrial customers; and, for the past 14 years, working on GHG reductions. He has been advisor to the U.S. State Department as well as the U.S. EPA and U.S.DOE, the Japanese government, the World Bank, and many energy companies around the world on the energy and environmental change.

Mr. Fusaro is co-editor and contributor to the book, GreenTrading: Commercial Opportunities for the Environment (2004). He has authored several books on energy risk management including Energy Hedging in Asia (MacMillan, 2005), Energy & Emissions: Collision or Convergence (John Wiley, 2005), Energy Convergence (John Wiley, 2002), Energy Derivatives (2000), and Energy Risk Management (McGraw-Hill, 1998), as well as co-authoring What Went Wrong at Enron (John Wiley, 2002). Previous employers include ABB Financial Services, Petróleos de Venezuela, the NYC Mayor's Energy & Telecommunications Office, and the U.S. Department of Energy. Mr. Fusaro has an M.A. in international relations from Tufts University and a B.A. from Carnegie-Mellon University.

Marion Yuen is president of The MYA Group which is a communications, research, and mediation advisory. A skilled facilitator and conference convenor, Ms. Yuen brings together diverse audiences and provides them with platforms for open and efficient face-to-face information exchange. Together with Mr. Fusaro, she created the Annual GreenTrading Summit™. Ms. Yuen also contributed to and edited the book GreenTrading: Commercial Opportunities for the Environment. She organized a coalition of major power generators that sponsored the first Executive Conference on Safety in Fossil Power Plants (2001). She produced the 1999 Global Fuel & Power Forum, 1998 Global Electric Power Forum, 2000 & 1999 Biotechnology Investing Conferences, and in 1991, Ms. Yuen co-chaired the Advertising Research Foundation's first Asian, Black, and Hispanic Research Workshop. Ms. Yuen holds master's degrees in Communications from Columbia University Teachers College and in Biophysics from the University of California at Berkeley, and an A.B. in Physics from Wellesley College as well as a certificate in Strategic Environmental Management from New York University's Management Institute. Ms. Yuen is a certified mediator and arbitrator.

Stefano Alaimo is head of the Environmental Markets Department at Gestore Mercato Elettrico (Rome), the Italian electricity market operator. His activities include development and management of an organized marketplace for Green Certificates and Energy Efficiency Certificates; analysis of the Emission Trading System in Europe and links with other environmental markets; analysis of international standardized and OTC derivatives markets on electricity, commodities, and weather; and preliminary analysis for the development of an exchange traded derivatives market on electricity prices in Italy. Before his involvement with GME, Mr. Alaimo was a proprietary trader on interest rates and FX markets at ABB Financial Services (Italian branch, Milan) where, along with pure trading activity, he has been involved in managing FX Forward book resulting from ABB FS activity with Italian subsidiaries. Previously, Mr. Alaimo worked as market maker on Italian government bonds at Smith Barney Europe Ltd. (London), with duties on long maturity bonds trading and basis trading. He also worked as fund manager at Fondicri Spa (Rome), a mutual fund managing company, and as a mathematics teacher at a high school. He graduated (magna cum laude) in Economic and Statistical Sciences at University "La Sapienza" (Rome).

David Brand is director of the New Forests Program with the Hancock Natural Resource Group, based in Australia. He is responsible for the design and oversight of forest investment programs that will bring together elements of traditional forestry investment with new environmental markets for forests including carbon sequestration, watershed management, and bio diversity enhancement. Prior to his current position, Dr. Brand was Executive General Manager of State Forests of New South Wales (NSW). In that position, he was active in supporting the development of carbon trading in NSW. From 1985 to 1995, he worked with the Canadian Forest Service as a scientist, as Director of Scientific Programs, and ultimately as National Director-General of Science and Sustainable Development. Dr. Brand has won several awards including the Canadian Forestry Scientific Achievement Award and the Canadian Public Service Award of Merit. He has authored a wide range of publications, books, and journal articles. He has a Ph.D. from the University of British Columbia and a B.S. from the University of Toronto.

Dawn Browne is the Geographic Information Systems manager for the national headquarters of Ducks Unlimited, Inc. (Memphis, Tennessee). She is responsible for coordination of national and international GIS and remote sensing projects as well as coordinating support for other GIS-related activities throughout the organization. Currently, Ms. Browne is working on a comprehensive carbon tracking system for Ducks Unlimited (DU). She has worked with DU for approximately five years as a GIS/remote sensing analyst in the southern regional office; currently she is a GIS manager. As an analyst, Ms. Browne developed several GIS data sets and models for the Lower Mississippi Alluvial Valley Joint Venture and the Gulf Coast Joint Venture, including Historical Forest Cover Change, a Soil Moisture Index, and a Redhead Freshwater Wetland Model for the Laguna Madre region. She has also been the technical coordinator for the multinational Upper Paraguay River Basin GIS project. Ms. Browne has a master's degree in Environmental Remote Sensing from University College London, England, and a B.S. in Environmental Science from University of North London, England.

Susanne Haefeli has worked exclusively since 2001 in the climate change field. She has worked on the development of accounting and reporting standards along the value chain and for CC>2 capture and storage projects. She also has managed the WBCSD's first phase of the CDM capacity building project, including the organization of a project developer's forum in South Africa. Ms. Haefeli presently is working in DNV Certification as a project manager on CDM and JI project validations and with other CDM and JI related work.

Paul A. Hilton is a portfolio manager for socially responsible investing at the Dreyfus Corporation. Mr. Hilton conducts social and environ mental research for all current and prospective holdings in the Dreyfus Premier Third Century Fund and its variable annuity counterpart, the Dreyfus Socially Responsible Growth Fund. Mr. Hilton joined Dreyfus in August 1998. He left the firm in April 2001 and returned July 2002 to continue his management of the socially responsible portfolios. Prior to joining Dreyfus, Mr. Hilton was a research analyst in the Social Awareness Investment (SAI) program at Smith Barney Asset Management, a division of Citigroup. Mr. Hilton also served as project director for corporate social responsibility research at the Council for Economic Priorities (CEP), a New York-based not-for-profit organization best known for its consumer guide Shopping for a Better World. While at CEP, Mr. Hilton spent four months with the Centre for Science and Environment, an environmental research organization in New Delhi (India), developing a program to evaluate the environmental performance of India-based companies. Mr. Hilton holds a B.A. from Syracuse University, an M.A. in Anthropology from New York University, and an M.Ed, from Roberts Wesleyan College.

Sheila Slocum Hollis, a managing partner of the Washington, D.C., office of Duane Morris LLP, serves on the firm's partners' board. Ms. Hollis practices in the areas of energy transactional and regulatory law, and international and administrative law before government agencies, Congress, and other entities. She specializes in domestic and international energy, water, and environmental matters, representing governmental bodies and the power and natural gas industries. She recently was named one of the 50 Key Women in Energy.

Ms. Hollis is a board member of the United States Energy Association and a member of the Advisory Committee of the North American Energy Standards Board. A Fellow of the American Bar Association (ABA), she serves on the editorial board of the ABA Journal and on the Standing Committee on the Federal Judiciary. In addition, she served as chair of the Standing Committee on Environmental Law from 1997 to 2000 and served two terms as chair of the ABA's Coordinating Group on Energy Law. The first director of the Office of Enforcement of the Federal Energy Regulatory Commission, serving from 1977 to 1980, Ms. Hollis was a trial lawyer at the Federal Power Commission from 1974 to 1975. Over the course of her career, she has played a key role in the formation and implementation of energy law and policy. She is the immediate past chair of the Section of Environment, Energy and Resources of the ABA, representing 11,000 members. Ms. Hollis was the first woman to serve as president of the Federal

Energy Bar Association (1991-1992). Since 1997, she has served as president of the Women's Council on Energy and the Environment. Ms. Hollis served as a professorial lecturer in the law on the subject of energy law at the George Washington University Law School from 1979 to 1999.

Ms. Hollis is a member of the American Law Institute and serves on the Board of Trustees of the Center for American and International Law and as vice chair of its Institute for Energy Law. With an extensive background in international energy law, Ms. Hollis is a member of the Energy, International, Women's and Federal bar associations. Widely published in energy law and policy matters, having co-authored two energy law texts and numerous articles, she was ranked by the National Law Journal as one of the Nation's top 20 energy lawyers. A Colorado native, she is a graduate of the University of Denver College of Law and a graduate of the University of Colorado at Boulder.

Ed Holt is president of Ed Holt & Associates, Inc., a renewable energy policy and green power marketing consulting firm located in Harpswell, Maine. He has recent or current projects with NARUC, the U.S. EPA, AWEA, NRECA, EPRI, and NREL. He is also an active member of the National Wind Coordinating Committee. He has a particular interest in policy issues affecting the use of renewable energy certificates in voluntary and mandatory energy markets and in emission trading markets. Mr. Holt is the author of the Green Pricing Resource Guide and numerous reports on green power. In 1994-1995, he was a principal with the nonprofit Regulatory Assistance Project. For 12 years before that, Mr. Holt worked for Seattle City Light, planning and implementing customer energy-efficiency programs.

Claire Jahns is an associate economist at the Chicago Climate Exchange (CCX), where she works primarily in the marketing department. In her role, Ms. Jahns works with potential CCX members in the industrial and power generation sectors to interpret CCX rules and calculate their greenhouse gas emissions footprints, both of which are key elements to the recruiting and new business development process. In addition, Ms. Jahns serves as the primary point of contact for some CCX members and associate members during the annual True-up process and with trading and compliance issues. Along with her marketing responsibilities, she contributes to the research department, creates marketing materials and presentations, and works on industry analysis. Ms. Jahns holds a B.A. in economics and environmental studies from Oberlin College.

Dick Kempka is the director of Energy and Technology Partnerships for Ducks Unlimited, Inc. (DU). Based in Memphis, Tennessee, he is responsible for coordination of DU carbon sequestration projects and other eco-asset management activities throughout the organization. He has authored or co-authored more than 20 professional publications. Mr. Kempka has worked for approximately 10 years as a remote sensing analyst and, later, as GIS Director at the DU California office. As DU's GIS Director, he designed an entity-wide conservation database management system. Mr. Kempka spent many years developing GIS databases for DU's western regional office, including many projects/fieldwork in California and Alaska. He previously worked for Pacific Meridian Resources, a GIS consulting firm in Oakland, California, where he was remote sensing manager and led all wetland projects. Mr. Kempka also has worked for the Defense Mapping Agency (now NEMA) and the State of Idaho. Mr. Kempka has an M.S. in Geography and Remote Sensing from Indiana State University, Terre Haute, and a B.S. in Geography/Remote Sensing from Carroll College in Waukesha, Wisconsin.

Arthur Lee is principal advisor for Global Policy and Strategy in Corporate Health Environment Safety of the ChevronTexaco Corporation. Based in San Ramon, California, his responsibilities include the corporation-wide formulation of strategic positioning and policy development on issues ranging from ChevronTexaco's internal energy policy and air pollution issues to actions addressing climate change concerns. Mr. Lee is the leader of the Policy & Incentives Team of the C02 Capture Project, which is the global joint industry-governments project to develop the next generation of C02 capture and storage technology. Mr. Lee was the chairman of the Climate Change Working Group of the Regional Association of Oil and Natural Gas Companies in Latin America and the Caribbean from 1999 to 2003. He was the chairman of the American Petroleum Institute's Industrial Combustion Coordinated Rulemaking Task Force from 1996 to 1998, which responded to the series of rulemakings by the U.S. EPA on air toxins from primarily combustion sources. Prior to the merger of Chevron and Texaco, Mr. Lee was the manager of Strategic Business Initiatives and Environmental Analyses, responsible for developing and implementing programs in carbon sequestration, emissions reduction, and offsets generation, and related energy and environmental technology development for Texaco, Inc. He has held positions of increasing responsibility with Texaco's exploration and production group and in safety, health, and environment. Previously, Mr. Lee was a regulator at the U.S. EPA Acid Rain Division, where he participated in developing the proposals regulating nitrogen oxides emissions from utilities and participated in the design of the emissions trading and tracking systems. He holds an M.S. in Chemical Engineering from the California Institute of Technology and an S.B. in Chemical Engineering from the Massachusetts Institute of Technology.

Mark M. Little is Vice President of GE Energy's power generation segment headquartered in Schenectady, New York. Power generation had 2004 revenues of $6.1 billion. GE Energy is a world leading supplier of power generation equipment including gas, steam, wind and hydro turbine-generators, turnkey power plant services, gasification technologies and IGCC (integrated gasification combined cycle). In addition to Schenectady, key business locations include Greenville, South Carolina; Bangor, Maine; Tehachapi, California; Houston, Texas; Lachine, Canada; Salzbergen, Germany; Belfort and Bourogne, France.

Mark joined GE's Turbine Business in 1978. After holding several management positions in engineering, he was named Product General Manager for generators in 1989. In 1991, he became General Manager—Business Development for GE Energy, responsible for strategic planning and joint venture development. In 1992, he was appointed Product General Manager for gas turbines and in 1994 was named Vice President, Power Generation Engineering. He assumed responsibility for the large turbine generator segments of power generation in 1997 and in 2004 was named to lead the combined thermal, wind and hydro power generation group.

Mark holds BS and MS degrees in mechanical engineering from Tufts and Northeastern universities, respectively, and in 1982 earned a Ph.D. in mechanical engineering at Rensselaer Polytechnic Institute.

John Palmisano was one of a small set of reformers who developed the concept of emissions credit and emissions quota trading. From 1976 to 1982 he was an advisor to and a manager of the U.S. EPA, implementing market-based regulatory reforms. He has more than 25 years of experience in developing air pollution control programs for industry and regulators, developing emissions trading projects and policies, trading and brokering air credits, advising governments and industry on emissions trading, developing policies related to environmental auditing and environmental management, conducting environmental audits, air permitting, and developing air and water pollution control programs for industry and regulatory agencies. In 1984, Mr. Palmisano established AER*X, the first firm specializing in brokering emission credits. AER*X was started with funding from Wisconsin Power and Light and was eventually acquired by EDS and then, years later, by Enron.

For the last three years, Mr. Palmisano has been a partner in Energy & Communications Solutions LLC (Washington, D.C.), which is a project development company focused on energy efficiency, renewable energy projects, and environmental trading in Russia, Ukraine, and Central and Eastern European countries.

William G. Russell is president and CEO of SKN Worldwide-USA, Inc., a sustainability products and services company working with other organizations and nations to improve their economic, environmental, and social performance—their "triple bottom line." Mr. Russell applies combined environmental, corporate finance, technology, and management consulting experience to help clients increase productivity while consuming fewer material, energy, and financial resources. He previously worked for PricewaterhouseCoopers (PwC), where he designed, implemented, evaluated, audited, and provided assurance statements that focused on management systems, contingent liabilities, and financial reserves as well as disclosure statements covering environmental, financial, and sustainability reporting.

Mr. Russell led PwC's efforts to establish its global Environmental Management Information Systems and climate change-related practices, including the implementation of ERP, Document Management, Emissions Inventory, and Data Warehouse applications. After leaving PwC in 2000 to become the president of Ecos Technologies, he focused on the development of Internet-based environmental, health, and safety (EH&S) management and control systems for multinational companies. In 2002, he left Ecos to launch SKN Worldwide. He is a certified hazardous materials manager with over 20 years of experience. Mr. Russell has a B.S. in Chemical Engineering from the University of Maryland and an M.B.A. in Finance from Rutgers University. He is a member of the advisory board of the University of Michigan's Corporate Environmental Management Program (CEMP) and the technical advisory board of Innovest Strategic Value Advisors.

Richard L. Sander is chairman and CEO of the Chicago Climate Exchange, a self-regulatory exchange that administers the world's first multinational and multisector marketplace for reducing and trading greenhouse gas emissions. Dr. Sandor is also a research professor at the Kellogg Graduate School of Management at Northwestern University. While on sabbatical from the University of California, Berkeley in the early 1970s he served as Vice President and Chief Economist of the Chicago Board of Trade. It was at that time Dr. Sandor earned the reputation as the principal architect of the interest-rate futures market. The City of Chicago and the Chicago Board of Trade honored Dr. Sandor for his contribution to the creation of financial futures and his universal recognition as the "father of financial futures." In August 2002, Dr. Sandor was chosen by Time magazine as one of its "Heroes for the Planet" for his work as the founder of the Chicago Climate Exchange. In November 2004, he was the recipient of an honorary degree of Doctor of Science, honoris causa, by the Swiss Federal Institute of Technology (ETH) of Zurich (Switzerland) for his pioneer work in the design and implementation of innovative and flexible market-based mechanisms to address environmental concerns. Dr. Sandor received his Bachelor of Arts degree from the City University of New York, Brooklyn College and holds a Ph.D. in Economics from the University of Minnesota.

Einar Telnes, M.Sc. and M.B.A., is technical director of DNV Certification's international climate change services. He has been active for several years with the early phases of the Kyoto mechanisms development and consulted to the UNFCCC as well as several governments and international organizations on monitoring, validation, verification, and accreditation issues related to GHG projects. Mr. Telnes has experience from nearly 100 AIJ, CDM, and JI project validations or verifications as well as verification of corporate GHG inventories for a number of large international companies. He was project manager for development of PCF's preliminary validation manual and the first issue of the ERUPT guidelines in the Netherlands; recently he has been responsible for development of the PCF/IETA validation and verification manual for JI and CDM projects. Mr. Telnes also has been principal on the development of the Australian Greenhouse Friendly programme and has taken part in the development of WBCSD's GHG protocols as well as the new ISO GHG guidelines.

Mark C. Trexler, Ph.D., has more than 22 years of energy and environmental experience. He has been part of the climate change field since 1988, when he joined the World Resources Institute in Washington, D.C. to work on the world's first carbon offset project. Dr. Trexler set up Trexler Climate + Energy Services in 1991 after moving to Portland, Oregon, where the firm is now based. For the last 13 years, the firm has been at the leading edge of innovative corporate GHG strategy development, GHG mitigation policy development, and the GHG project market. Working with companies ranging from

Japan's J-Power to Vermont's Stonyfield Farm Yogurt, Dr. Trexler's firm has helped dozens of companies position themselves for climate change. More recently, the firm has focused particularly heavily on helping companies and government anticipate the future GHG market and GHG credit prices.

Deltcho Vitchev is currently a director of Renaissance Finance International (RFI), a company that specializes in structuring and implementation of projects in environmental and energy fields. After a distinguished 15-year career as an engineer commissioning industrial installations in the power, chemical, and metallurgical industries, he started specializing in financial management of environmentally beneficial projects. He was appointed as advisor to the president of the European Bank for Reconstruction and Development. As a senior and then principal environmental specialist, Mr. Vitchev continued to work on the issues related to finance and environment. He continued his career as a principle banker of EBRD, financing projects in the field of energy and environment. Joining RFI, Mr. Vitchev continued his involvement in the areas of finance, energy, and environment by structuring and implementing projects in these areas and creating expertise in financial appraisal of such projects in Central and Eastern Europe. He is advising a number of international bodies on finance and environment, including the European Commission, the European Parliament, and the United Nations Economic Commission for Europe.

Patrick Zimmerman is director of the Institute of Atmospheric Sciences at the South Dakota School of Mines and Technology and is chair of the Department of Atmospheric Sciences. In 2002, Dr. Zimmerman helped create and was named interim director of the Center of Biocomplexity Studies, which represents a consortium of scientists from the University of South Dakota, South Dakota State University, and from South Dakota School of Mines and Technology. Dr. Zimmerman has been a principal investigator on over 24 major grants and contracts. His research has focused on biogenic hydrocarbon emissions and the carbon cycle. His patent application for method and apparatus for generating standardized carbon emission reduction credits was submitted on February 2003. From 1979 to 1997, he worked at the National Center for Atmospheric Research, where he helped to establish an interdisciplinary research program to study biosphere-atmosphere interactions. Dr. Zimmerman received his B.S. in Environmental Science (Zoology) and an M.S. in Environmental Science (Chemical Engineering) from Washington State University, and a Ph.D. from Colorado State University.

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