EMSNET ARTICLES

Predicting U.S. Climate Change Laws: What the Pending Bills Tell Us
Introduction and Background

Over the last few years, the Congress has paid increasing attention to climate change and global warming issues. After passing the relatively modest Energy Policy Act of 2005—which focused primarily on removing impediments and providing incentives for development of traditional energy resources, the Congress, after the Democratic takeover in 2006, enacted the Energy Independence and Security Act of 2007 imposing strong vehicle fuel efficiency mandates and promoting research and development of a relatively broad range of clean and efficient energy technologies. That legislation, however, fell considerably short of aspirations and the stage is now set for a more direct and comprehensive attack on the climate change problem. It is increasingly likely that we will see enactment of comprehensive climate change legislation in the next several years. There are several bills bouncing around the House and Senate reflecting a range of goals and strategies, but a majority of support seems to be building for the sort of “cap and trade” system offered by S. 2191, commonly known as The Lieberman-Warner Climate Security Act. Under this type of system, industry sectors responsible for GHG emissions would be required to conform a declining cap on such emissions with the opportunity to buy and sell credits to manage and/or offset excess production. This Senate has been reported out of committee and is predicted to reach the floor of the Senate in the early part of 2008. The House Committee Leadership has indicated intent to act within a similar time frame.

Read more...Predicting U.S. Climate Change Laws: What the Pending Bills Tell Us.pdf

Sarbanes-Oxley and Enron's Legacy: New Environmental Accountability
by Gordon Arbuckle

Executive Summary —
In the early 1980's the SEC's adoption of environmental disclosure rules was greeted with applause from the environmental public interest community. Due to the lack of effective enforcement mechanisms, the bright hope that occasioned the applause has been largely unfulfilled until now. With the passage of the Sarbanes-Oxley Act, hope has been rekindled and networks are being established to assure that these requirements have major implications for corporate managers and corporate boards.

Read more... Sarbanes-Oxley and Enron's Legacy — New Environmental Accountability.pdf

Environmental Management for Asset Preservation

Background - Context —
In the thirty years or so that government and industry have been seriously struggling with environmental issues, the level of sophistication and commitment required in order to achieve the necessary level of environmental performance has steadily and exponentially increased. In the early days, as the first Clean Air, Clean Water and Waste Disposal acts and regulatory systems were being developed, compliance responsibilities were relatively simple and clear cut. Industry's task - to find and implement engineering solutions to clearly identified problems was relatively simple, if costly. Accomplishment of this task did not create an urgent need for companies to change their "cultures" or the way they did business.

As the years have passed, however, that circumstance has changed.

Read more...Environmental Management for Asset Preservation.pdf

International GHG Policy Trends
by Matthew B. Arbuckle

Melting glaciers, an increase in violent weather, and other geographic indicators have offered tangible, physical evidence of the effects of Global Warming, and has contributed to the development of an international consensus on the need for action. While some disagree on magnitude and methodology, few disagree that emissions of carbon and greenhouse gases must be dramatically reduced to slow this climate change. As a result, the last ten years has witnessed a significant increase in greenhouse gas (GHG) mitigation programs.

Read more...International_GHG_Policy_Trends.pdf