Thursday, June 3, 2004
2:00-3:30 pm, 2318 Rayburn House Office Building  

The Environmental and Energy Study Institute invites you to a Congressional briefing to examine the economic, private sector, scientific and religious perspectives regarding H.R. 4067 (S.139), the Climate Stewardship Act.  The bill would reduce carbon emissions through mandatory economy-wide reductions and flexible, market-based trading systems.  Bill sponsors, Reps. Wayne Gilchrest and John Olver, introduced their legislation March 30, 2004 with ten Republicans and ten Democrats.  The bill would return U.S. emissions to 2000 levels by 2010. This briefing is particularly timely with another Senate vote on the companion bill, presented by Senators McCain and Lieberman expected this June.  

The bill would limit greenhouse gas emissions from industrial, utility, commercial and transportation sources, which, according to the Congressional Research Service, account for 70 to 85 percent of U.S. greenhouse gas emissions.  The bill excludes residential and agricultural greenhouse gas sources along with entities emitting fewer than 10,000 metric tons of carbon dioxide equivalents annually.  The bill was estimated to cost less than $20 per household over the life of the program according to the MIT Joint Program on the Science and Policy of Global Change.  This bill also authorizes the allocation of funds for climate change research, the establishment and maintenance of a National Greenhouse Gas Database, as well as the establishment of an independent not-for-profit Climate Change Credit Corporation that would be responsible for the buying and selling of tradeable allowances of greenhouse gas emissions.  The bill also would allocate some revenue from carbon credit sales for dislocated workers, rural electric cooperatives that adopt combined-cycle gasification or geological carbon storage programs, as well as agricultural programs developing renewable energy initiatives and green house gas sequestration on agricultural lands.                                                                                                                                                                                                           

Briefing Panel:  

Reps. Wayne Gilchrest (R-MD) and John Olver (D-MA)

Brent Yacobucci, Environmental Policy Analyst, Congressional Research Service (Presentation)

Reverend Jim Ball, Executive Director, Evangelical Environmental Network (copy of letter)

Jack Gibbons, President, Resources Strategies; Former Science Advisor to the President.

John Cusack, President, Gifford Park Associates  (Presentation)

Over the years the issue of climate change has drawn the attention and concerns of state and local governments, private sector companies, and religious and scientific leaders.  A letter to the Senate signed by prominent members of the scientific and religious community urged immediate action to address climate change, namely passage of the Climate Stewardship Act.  In the private sector, numerous companies and utilities have adopted commitments to reduce CO2 emissions through improvements in energy efficiency resulting in significant economic savings; many have also made investments in renewable energy power generation.  In regard to climate change, Rep. Olver has stated, “Congress must get serious about addressing greenhouse gas reductions to minimize the impact of global warming already felt across our country.”  

Reservations are not required.  This briefing is open to House and Senate staff and the general public.  For more information, please contact Alexandra Morel at EESI at 202-662-1885 or amorel@eesi.org.

Click here for a copy of the Religious and Scientific Community Letter to the Senate