"Assuming that an average overseas project would generate 100,000 offset tons per year, this would require the approval of 10,000 projects within three years of the start of the program. To put the administrative burden in perspective, this is more than seven times the total number of projects registered under the Clean Development Mechanism (CDM) established by the United Nations as part of the Kyoto Protocol," it states.
The bipartisan commission includes former U.S. EPA Administrator William Reilly, who is currently a senior adviser to TPG Inc.; Exelon Corp. CEO John Rowe; former Assistant Secretary of Energy Susan Tierney; and Resources for the Future President Philip Sharp. The executive director, Jason Grumet, was a top energy adviser to President Obama's campaign.
Correction: The National Commission on Energy Policy is calling for passage of climate legislation during the 111th Congress.
Reprinted from Greenwire with permission from Environment & Energy Publishing, LLC. www.eenews.net, 202-628-6500