The Honorable
United States Senate
Washington, DC 20510

Dear Senator:

        You recently received a "Dear Colleague" letter from Senators Chafee, Mack, and Lieberman regarding legislation to provide credit for early action in reducing greenhouse gas emissions. The International Climate Change Partnership (ICCP), one of the largest international industry coalitions focused exclusively on climate change policy, urges you to co-sponsor this important legislation. A list of ICCP members is enclosed.

        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 mandatory scheme adopted by the government. Such "credits" should be granted to those companies that achieve verified reductions between 1990 and the commencement of any mandatory program. Enclosed is a copy of ICCP's position paper on credit for early action that provides more details on our views.

        The Credit for Voluntary Early Action Act (S 2617) was introduced at the end of the 105th Congress by Senators Chafee, Mack, and Lieberman. ICCP members believe this bill was a credible start in addressing the issue and its reintroduction will provide a useful basis for consideration by the 106th Congress.

        It has been suggested that supporting such legislation may unwittingly create support for the Kyoto Protocol. We do not agree. Many companies have already taken action based on the Framework Convention on Climate Change, which was ratified by the U.S. Senate in 1993. This agreement called for the US to attempt to stabilize its greenhouse gas emissions at their 1990 level by the year 2000. Those who have acted in good faith or who take action prior to any mandatory program should receive legally binding assurances that their verified reductions will be credited, regardless of the underlying basis for some future regulatory mandate.

        In meetings with Senate Environment Committee staff we have outlined the need for potential changes to the bill prior to its reintroduction and identified several issues that will require additional discussion and resolution. Two such matters include how to address products that use or emit greenhouse gases, and the method for dealing with companies and industries with very different growth characteristics. While support for any final bill will depend on acceptable resolution of these and other key issues, ICCP has pledged its active and constructive participation in this debate.

        As an important first step, we urge your co-sponsorship of the Chafee, Mack, and Lieberman legislation so that you can be engaged in the dialogue. ICCP member representatives will be contacting you in the near future to discuss this matter. Please do not hesitate to have your staff contact ICCP if you have additional questions.

        Thank you in advance for your support.

 
 
                                                                        Sincerely,
 
                                                                        Kevin J. Fay
                                                                        Executive Director