EU, US Officials Join Climate Plan (ICAP - International Carbon Action Partnership)

ap on biz Yahoo ^ | 10/29/07 | Barry Hatton - ap

[NormsRevenge]

LISBON, Portugal (AP) -- Senior officials from the European Union, three U.S. states, Canada, Norway and New Zealand launched an international effort Monday to fight climate change by building a global carbon trading market.

The International Carbon Action Partnership aims to add momentum toward low-carbon economies by grouping countries and regions that cap and trade environmentally damaging carbon dioxide emissions.

Under the scheme, local authorities place an annual ceiling on carbon dioxide emissions and issue "pollution permits" to companies, which can then buy and sell them.

ICAP intends to push for a worldwide marketplace that will allow cross-border trading in permits that are bought and sold like commodities.

British Prime Minister Gordon Brown, who signed his country up to the ICAP, said the nonprofit non-governmental organization is "a significant step forward" for the creation of a global carbon trading system that will be "fundamental" in arresting and reversing climate change.

London has become the center for the multibillion dollar market in carbon emissions, attracting investors who trade CO2 allowances.

"By working together we can make our shared vision of a global carbon market a reality," Brown said in a video message to the meeting.

California, New York and New Jersey also joined ICAP.

California Gov. Arnold Schwarzenegger, who last year signed the United States' first statewide cap on emissions of greenhouse gases, said ICAP would "provide more incentives for clean-tech investment and economic growth while not letting polluters off the hook."

The U.S. government has opposed mandatory limits on greenhouse gases, saying such regulations would stifle economic growth. But Schwarzenegger said the cap-and-trade scheme would not hurt business and would spread across the world.

"Just because you don't see Washington leading on this issue don't assume that America is shirking its responsibilities," Schwarzenegger said in a video message. He canceled his trip to the meeting, which was held in Lisbon, because of the Southern California wildfires.

New York Gov. Eliot Spitzer said he was "disappointed" the federal government was not represented in the Portuguese capital but predicted the winner of next year's U.S. elections would "fully understand the import of the issue."

New York is one of 10 northeastern states that have joined a Regional Greenhouse Gas Initiative.

Jon Corzine, the governor of New Jersey, which in July enacted a comprehensive greenhouse gas reduction law, said the 27-nation EU's emissions trading system, launched in 2005, provided "a role model."

European Commission President Jose Manuel Barroso said ICAP would help develop more sophisticated emissions trading schemes.

"Putting a price on carbon is the vital 'pull factor' needed to ensure a healthy market for clean technologies. It's a major driver for innovation, for the creation of markets, and for future activity," Barroso said.

[NormsRevenge]

http://www.ICAPCarbonAction.com.

ICAP

A video message from Arnold Schwarzenegger, Governor of the State of California, is shown during the official launch ceremony of the International Carbon Action Partnership Monday, Oct. 29 2007, in Lisbon.
Schwarzenegger couldn't attend the ceremony due to the forest fires raging in California.
Representatives of European governments and North American regions attended the launch of the ICAP which is designed to bring together regions and governments committed to cut greenhouse gas emissions.
(AP Photo/Armando Franca)

[BenLurkin]

"...a global carbon trading market..."

Oh boy -- here it comes.

[NormsRevenge]

No al gore visible so far on the site.

Members page from the ICAP web site.

http://www.icapcarbonaction.com/members.htm

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the program (PDF) for the event today

http://www.icapcarbonaction.com/docs/icap_program20071029.pdf

[basil]

Well, maybe all this nonsense will keep the idiots busy for a while, and they can then play their little “trading” game while the rest of us snicker at them.

[calcowgirl]

That “little ‘trading’ game” currently encompasses a $40 Billion market and they’ve only just begun.

If they cap carbon emissions across the U.S., everyone will suffer. I doubt anyone will be snickering except the communists and the robber barons.

[DustyMoment]

. . . . launched an international effort Monday to fight climate change by building a global carbon trading market.

IOW, perpetrating the fraud of Global Warming with genuine "feel-good" policy but no substantive actions.

I love eco-kooks for their entertainment value . . . . . . but not much else!

[TheDon]

Save the world,
kill an environmentalist.

[Eric in the Ozarks]

How can any US state sign a treaty with a foreign entity ?

[Tailgunner Joe]

New Jersey's law, for instance, requires the state to reduce global warming gases to 1990 levels by 2020, and to reduce greenhouse gas emissions to 80 percent below 2006 levels by 2050. It was signed into law in July by Gov. Jon S. Corzine, who was joined at the forum by Portuguese Prime Minister Jose Socrates, whose country holds the European Union's rotating presidency. - LINK

PROFILE: Socrates - EU's "George Clooney" - When the socialist leader won a landslide victory in Portugal's 2005 elections, he was better known for his suits designed by Giorgio Armani than for his leadership qualities. But with the Portuguese economy finally showing signs of recovery, Socrates is increasingly regarded with more respect. Many in Portugal and beyond refer to him as the "George Clooney of Portuguese politics," a reference not only to his charm and style, but also to his smooth manner and reconciliatory approach as negotiator. Describing himself as an "authentic European," Socrates jokes that his birth year, 1957, coincides with that of the Rome Treaty which gave birth to the EU.

Holding the sports and environment portfolios in prime minister Antonio Guterres' Socialist governments between 1997 and 2002, Socrates was elected party leader only shortly before the 2005 elections.

[Cacique]

All based on junk science without any evidence to support the contentions whatsoever. Will Mars and Saturn join also since temperatures are going up there too? Will anyone point out that the sun is shrinking and that humans are exhalers of CO2?

[Cacique]

All driven by a socialist agenda driven by people who were not elected to anything.

[steelyourfaith]

GW™ ping