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EMA Releases Best Practices for Market-Based Systems
FOR IMMEDIATE RELEASE
Washington, DC – Oct 23, 2009 – The Environmental Markets Association (EMA) announced today the release of newly created Best Practice Principles for Market-Based Systems. The Principles, which were released at the Association’s annual membership meeting, lay out the Association’s support of cap-and-trade legislation as the most efficient, cost-effective, and technologically-innovative policy approach to reduce greenhouse gas (GHG) emissions. The Principles were developed by a diverse cross-section of the EMA membership, including representatives from Ameren, Conectiv Energy, Conservation Services Group, Equator LLC, Hogan & Hartson, PIRA Energy Group, Power Energy Analytic Resources, Inc., Van Ness Feldman, and Williams Mullen.
EMA members have decades of extensive, first-hand experience with cap-and-trade initiatives, including the Clean Air Act's groundbreaking 1990 acid rain program that has decreased sulfur dioxide (SO2) emissions by 52% from 1990 levels and abatement costs reduced to an estimated 43%- 55% due to the flexibility inherent in trading. The success of these markets suggest that a cap-and-trade program for greenhouse gases will similarly ensure the most cost-effective means to reduce GHG emissions, and stimulate investment in energy efficiency and GHG emission reduction technologies. EMA Board Member and Advocacy Committee Chair, Eron Bloomgarden of Equator LLC commented on the importance of this initiative, "As the longest standing US-based environmental markets trade association focused on market-based solutions, EMA is uniquely positioned to speak to issues of market design and development. With environmental trading being founded in the U.S. in 1990 with the Acid Rain program, EMA has been actively engaged in environmental markets for over 13 years. Through these Principles, the EMA is uniquely positioned to represent a broad range of stakeholders and industry practitioners including regulated entities, service providers, investors, advisors, brokers and traders. This initiative will share best practices, expertise, industry knowledge and lessons learned especially as we look towards the emerging climate change legislation." "Conectiv Energy, a progressive Mid-Atlantic merchant generator, has participated in environmental markets since 1994," said Gary Helm, Senior Environmental Consultant and member of the Advocacy Committee, "we have experienced first-hand the efficient price discovery and risk mitigation that broad participation in these markets provides." EMA Member and Advocacy Committee participant, Cameron Prell of the Washington, DC law firm Williams Mullen, highlighted the utility and assistance this initiative provides, " At a time when policymakers and industry are debating carbon legislation and rules that will have a transformative impact on the way the U.S. does business including these EMA Best Practices in the discussion could not come at a better time. The principles provide excellent instruction and guidance on what works." To view the document, please go to http://www.environmentalmarkets.org/galleries/default-file/EMA%20Best%20Practices%20for%20Market-Based%20Systems.pdf # # #
The Environmental Markets Association (EMA) is the leading US-based environmental trade association focused on promoting market-based solutions as the key to combat environmental problems. Founded in 1996 by a group of emissions traders, EMA's current membership includes brokers, traders, consultants, lawyers, academics, government agencies, affected industries (e.g., utilities, manufacturing; transportation, construction), and financial/investment companies centered on the following transactional markets: SO2, NOx, CO2, RECs, ERC Offsets.
Your Environment. Your Markets. Your Association. www.environmentalmarkets.org
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