October 22, 1997 STATEMENT OF SUPPORT FROM NAIMA AND PIMA FOR THE PRESIDENT'S CLIMATE CHANGE INITIATIVE The North American Insulation Manufacturers Association (NAIMA) and the Polyisocyanurate Insulation Manufacturers Association (PIMA) today announce their support for the Clinton Administration's goal of stabilizing greenhouse gas emissions at 1990 levels to stem the impact of global climate change. "We believe stabilization is the right direction for the United States to take at this time and we believe that existing, off-the-shelf technologies, like insulation, represents one of the single most cost-effective and immediate ways to achieve that goal," said PIMA President Jared Blum. Insulation manufacturers also applauded the Administration's efforts to provide $5 billion in incentives designed to make it more economical for industry to curb pollution on its own and stressed that several programs already exist for implementing such measures. Here again, improved insulation offers an immediate opportunity to curb greenhouse gas emissions. NAIMA Executive Vice President Ken Mentzer said "By encouraging increased participation in current programs like the EPA Energy Star Homes Program, DOE programs such as Building America and Steam Partnership, energy efficiency loan and mortgage programs like those offered by FANNIE MAE, and existing state programs designed to enhance the energy efficiency performance of homes, buildings and industry, the Administration can make valuable progress toward its goal by utilizing currently available programs and technologies.” NAIMA and PIMA recognize that substantive issues remain to be resolved, such as a clear method for obtaining developing country reductions, but both organizations remain committed to assisting the Administration in gaining industry and national support for the initiative. North American Insulation Manufacturers Association Polyisocyanurate Insulation Manufacturers Association Sycom ENTERPRISES Release - October 22, 1997 ENERGY EFFICIENCY COMPANY LAUDS CLINTON CLIMATE POLICY President Clinton's decision to stabilize greenhouse gas emissions is both responsible environmental policy and sound economic policy, according to S. Lynn Sutcliffe, President and CEO of SYCOM Enterprises, a nationally accredited energy services company. "The President's bold policy directives will begin the process of a cost-effective transition to energy technologies that benefit our economy while reducing the risk of climate change," said Mr. Sutcliffe. "The lifestyle of the American people and the vigor of the American economy will not be undermined by cutting carbon emissions. A sustained effort to reduce carbon emissions by improving energy efficiency and utilizing advanced, non-carbon energy technologies will increase our prosperity and productivity." As a member of the Business Council for Sustainable Energy, SYCOM has encouraged the Clinton Administration to adopt binding targets for greenhouse gas reductions in a time frame that would encourage energy consumers to adopt advanced technologies that significantly reduce carbon emissions or eliminate them altogether. A market-based approach to limiting greenhouse gas emissions is the most economically efficient means of achieving any target or goal, Mr. Sutcliffe said. "We think the policy actions announced today represent an important and achievable step in meeting these requirements," Mr. Sutcliffe stated. “SYCOM is one of many U.S. businesses, small and large, already in the market-place providing the services necessary to make the President's goals a reality. By doing so we create jobs, econòmic growth and environmental protection." SYCOM Enterprises, with offices in Washington, D.C., California, New Jersey and Iowa, has provided energy efficiency and related energy services to a wide range of industrial, commercial, institutional and governmental customers for over a decade. SYCOM has successfully banked emission reduction credits based on energy efficiency improvements. Press Release CENTRE FINANCIAL PRODUCTS Embargoed for Release: 2:00 p.m. EST October 22, 1997 Financial Innovator calls Clinton's Reliance on Markets to Fight Global Warming "Right on Target" Chicago, Illinois, USA – In today's announcement of the U.S. position in the climate change policy negotiations, President Clinton emphasized the need for innovation in the effort to combat the costly threat of global warming. In his speech at the headquarters of The National Geographic Society, Clinton noted the need to create new technologies and develop new strategies, like emissions trading, that will both curtail pollution and support continued economic growth. In response, Dr. Richard L. Sandor, Chief Executive Officer of Centre Financial Products Limited, commented: "President Clinton has challenged the private sector to create innovative methods for combating global warming. We know that market mechanisms, such as trading in emission reductions, can help bring down the cost of cutting pollution." Sandor added: "Do not underestimate the ingenuity the business community. If we set a clear environmental standard and use the right incentives, businesses will respond with their enormous problem-solving talent. The threat of costly changes in the world's climate must be addressed using the best policy tools: markets have to be part of the solution." Dr. Sandor, a recognized financial innovator, has designed new market mechanisms that are widely used in agriculture, finance, insurance and environmental protection. Centre Financial recently executed the first U.S.-Costa Rica business transaction that lowers greenhouse gas emissions through the sale of credits reflecting regeneration of tropical rainforests. On May 9, President Clinton cited this innovative program as one that can support sustainable development and finance efforts to reduce greenhouse gasses, stating: "The carbon certificates created by the Costa Rican government and United States companies provide a new way to finance these investments." On June 20 Centre Financial hosted the first Greenhouse Gas Emissions Trading Policy Forum, which is developing a limited-scale pilot market to cut carbon emissions. The Forum, sponsored by the Earth Council and the U.N. Conference on Trade and Development, was Chaired by Mr. Maurice Strong, who was Secretary General of the historic 1992 Rio "Earth Summit" and is now Chairman of the Earth Council. The Forum brought together business and government leaders from fifteen countries and laid the groundwork for introducing a pilot market consistent with the agreements expected this December from the U.N. Framework Convention on Climate Change. *Leaders are already working to make a market-based solution a reality," noted Sandor. "Climate change threatens human health and could cause serious harm to many industries, such as agriculture and insurance. But we've seen with other forms of pollution that hamessing the power of markets lets us protect the environment without threatening jobs or living standards." Chicago-based Centre Financial Products Limited has helped launch numerous markets that help solve social problems. Centre played a leading role in the U.S. Environmental Protection Agency's successful sulfur dioxide allowance trading program. Centre is an advisor to the Stock Exchange of Singapore and its principals helped launch the Internet-based CBOT recyclables exchange. Visit the Centre Financial Products Limited Website at: www.centrefinancial.com For further information, please contact: Dr. Michael J. Walsh, Tel: (312) 554-3380 PRESIDENT'S CLIMATE POSITION. ‘POINTS THE Should be Strengthened While Building Consensus President Clinton's proposal to reduce the threat of global warming "points the United States in the right direction,” says Randall Swisher, executive director of the American Wind Energy Association (AWEA). "However, as the President continues to build a consensus for action, the plan should be strengthened to provide more emissions reductions at a faster rate through additional clean energy incentives," Swisher said. "The wind energy industry is impressed by President Clinton's and Vice President Gore's personal commitment to tackling the most significant environmental issue of our time. Their action challenging the country to create solutions is a large improvement over the U.S. position of the early 1990's," Swisher said. The announcement, he noted, acknowledges both the failure of purely voluntary actions to reduce greenhouse gas emissions and the need for mandatory binding targets from all countries to achieve significant emissions reductions. The wind industry, Swisher said, is particularly encouraged by the President's call for a five-year, $5 billion program of tax incentives and R&D efforts aimed at developing and commercializing clean energy technologies. "By including a ten-year extension of the soon-to-expire 1.5 cent per kilowatt-hour tax credit for wind energy-in conjunction with other policies- the U.S. could power 10 million homes through wind energy while generating thousands of high-tech manufacturing jobs," Swisher said. "This is clearly the type of win-win innovation that should be spurred through the President's plan." The plan also calls for federal facilities to rely more heavily on low-emission and no-emission sources of energy. "This could be achieved through an executive order requiring that a certain percentage of electricity used by the federal government be purchased from renewable resources such as wind, solar, -more page two. AWEA Climate Position geothermal and biomass," Swisher said, "thus setting a leading example and stimulating the development of new high-tech industries." Finally, by linking the challenge of climate change with the opportunities of electric industry restructuring, "the President and Vice President have chosen to point the country toward a cleaner energy future," Swisher said. If the Administration were to include within federal restructuring legislation "a market-based Renewables Portfolio Standard of 5% by 2005 and 10% by 2010 applied to all generators of electricity, the domestic wind industry could grow from today's 1,700 megawatts (MW) of installed generating capacity to 30,000 MW by the year 2010. If this target is achieved, wind could reduce national CO2 emissions by 100 million metric tons annually, or more than 18% of the emission reductions needed from power plants," Swisher said. -30 AWEA, formed in 1974, is the national trade association of the U.S. wind energy industry. The association's membership of more than 700 includes turbine manufacturers, wind project developers, utilities, academicians, and interested individuals from 49 states. More Information on wind energy is available by calling (202) 383-2500, or visiting AWEA at our web site: http://www.econet.org/awea |