FOR IMMEDIATE RELEASE:

For Further Information:
Contact: Kevin Fay
(703) 841-0626

July 14, 1999, Arlington, VA   The International Climate Change Partnership (ICCP) announced today that it supports introduction of the Lazio, Dooley legislation on credit for voluntary early action to reduce greenhouse gas emissions. "ICCP has consistently stressed the need to provide legally binding assurances that voluntary actions to reduce greenhouse gas emissions will be credited in any future program adopted by the government," noted Kevin Fay, ICCP Executive Director.

ICCP Chairman Judith Bayer of United Technologies Corporation stated that the coalition believes it is necessary to engage in a dialogue on these important issues. "Many companies have already taken steps to reduce greenhouse gas emissions or have pledged action in the near future. It is important that Congress provide legally binding assurances that these actions will be credited if some future regulatory mandate arises," said Bayer.

Fay indicated that the business community cannot address and resolve the climate change issue on its own. A realistic dialogue must begin that helps clarify longer-term objectives and recognizes short-term activities. Credit for early action is an appropriate issue to initiate this dialogue. While many complicated issues still need to be resolved, the bill represents a credible starting point.

ICCP released a list of principles on credit for early action last fall. Support for passage of final legislation will depend on consistency with these principles and resolution of a number of key issues, including the coverage of "manufactured products" and the related greenhouse gas emissions savings associated with their use, and how to deal with a wide variety of industry sectors having different growth characteristics.

ICCP was formed in 1991 and is one of the largest international industry coalitions focused exclusively on climate change issues.

Attached: Position Paper on Credit for Early Action