EESI sponsored a Congressional briefing regarding new assessments that evaluate climate mitigation options, specifically how cutting carbon emissions can spur economic growth and increase energy savings and profits. This briefing examined recent studies from both the European Union and the United States.

The expert briefing panel included:

The International Project for Sustainable Energy Paths (IPSEP) released a new report, "Cutting Carbon Emissions While Making Money: Climate-Saving Energy Strategies for the European Union," at the fifth United Nations Climate Conference in Bonn, Germany. The report finds that by the year 2020, the European Union could double its Kyoto target for cutting carbon emissions -- from currently eight percent to 16 percent of 1990 levels -- while simultaneously reducing the cost of heating, driving, lighting, and other energy services by up to 30 percent below reference levels.

In March 2000, the United Kingdom Deputy Prime Minister, John Prescott, encouraged the European Union to ratify the Kyoto Protocol and released the United Kingdom’s blueprint for achieving emissions targets agreed at the Kyoto Summit in 1997. The United Kingdom is set to reduce their greenhouse gas emissions to 21.5 percent below the 1990 levels by 2010. This is almost 10 percent beyond the Kyoto target. Prescott stated, "It is a package of policies and measures that will be good for the environment, good for people and good for the economy."

The U.S. Environmental Protection Agency recently completed a series of studies that evaluated the economic benefits of an investment-led strategy to generate cost-effective reductions in both greenhouse gas emissions and various air pollutants. The results of these studies indicate that technology policies that emphasize incentives and voluntary programs can secure significant domestic reductions in carbon emissions that, over time, yields small but positive net benefits for businesses and consumers. These same investment-led strategies also tend to reduce sulfur dioxide, nitrogen oxide, and mercury emissions.

The Business Council for Sustainable Energy advocates policies that promote the nation's economic, environmental and national security goals, and consists of leading companies and industry trade associations. Members of the Council represent companies on the cutting edge of efficient, economic and environmentally sound technologies, such as fuel cells, solar power, cogeneration, wind power and natural gas combined-cycle systems. Marvin will be a discussant in the briefing, providing commentary on the studies presented.

This briefing is part of EESI's series in support of Earth Day 2000!