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Fundamental
the nation's climate change policy is the
need for international activities including the
investment in projects that produce measurable
reductions in greenhouse gas (GHG) emissions. The
International Utility Efficiency Partnerships,
Inc. (IUEP), supports international GHG reduction
projects, and has funded a total of 23 projects
with private and DOE funding in 15 countries
(Latin America, Asia, Eastern Europe, and Africa)
from 1995-2002. A total amount funded of US $4.56
million has the potential (conservatively) to
leverage approximately $1.18 billion in total
project investment cost. To date, the IUEP program
is responsible for more than 200 million metric
tons of CO2 equivalent (MmtCO2E), including 67.2
attributable to projects that have been completed,
and 142.0 MmtCO2E attributable to projects that
are currently under construction.
Under
the IPP program, IUEP will continue to:
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identify
international energy project development
opportunities in support of voluntary
market-based mechanisms to reduce GHG
intensity, to slow the growth in GHG
emissions, and to address Administration
reduction goals in a cost-effective manner,
and
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provide a mechanism for U.S.
industry to maintain a leadership role in
international GHG reduction efforts which will
support, through specific project development,
the objectives of bilateral relationships
entered into by the U.S. government.
When
President Bush announced his sweeping climate
change policy, in speeches on June 11, 2001 and
February 14, 2002, the U.S. shareholder-owned
electric utility industry took up the challenge of
supporting the President’s goals of reducing
greenhouse gas (GHG) intensity and slowing the
growth of GHG emissions, of strengthening the
institutional foundation addressing GHG emission
reductions, and of working with other Nations to
develop an efficient and effective global
response. The latter includes expanding bilateral
cooperation, which recognizes the critical
importance of targeted country participation in
any effective global response to climate change.
Industry has embraced these goals and is proposing
a complementary program within the framework of
three objectives: 1) any actions taken must be
voluntary, 2) these actions must recognize federal
budget constraints and therefore must be cost
effective and leverage significant private sector
investment, and 3) these actions must result in
GHG reductions that are measurable and reportable
under U.S. law. Within this framework, industry
proposes an enhanced international strategy, built
on current successful GHG emission reductions
international programs, to continue to achieve greenhouse gas reductions under voluntary programs.
Specifically,
the goals of the IPP program are: (1) identify
international energy project development
opportunities to continue supporting voluntary
market-based mechanisms to reduce the growth in
GHG emissions in a cost-effective manner; (2)
demonstrate shareholder-owned utility commitment
to voluntary approaches to global climate issues;
(3) provide a mechanism for U.S. industry to
maintain a leadership role in international GHG
reduction efforts which will support, through
specific project development, the objectives of
bilateral relationships entered into by the U.S.
government; and (4) develop partnerships with
domestic and international private and public
organizations, building on the relationships with
international affiliates program and those
developed by the International Utility Efficiency
Partnerships, Inc.
The
U.S. government has identified a number of
countries which, in conjunction with the United
States, account for over 75 percent of global
carbon dioxide emissions from the consumption and
flaring of fossil fuels. The industry led IPP
initiative will support the U.S. government's
strengthening of such a bilateral focus on climate
change cooperation. This IPP support will
facilitate the investment in and deployment of
energy resources that will reduce the growth of
GHG emissions, while building alliances towards
practical, effective approaches to climate change.
The U.S. government seeks to enhance cooperation
with Japan, the European Union, Italy, Australia,
Canada, the seven Central American countries,
China, India, Korea and Brazil.
The
IPP seeks to strengthen collaboration and clean
energy investment between the U.S. and developing
world. This initiative is intended to support the
U.S. government's climate strategy of international
cooperation on a bilateral basis.
This
participation includes both near-term efforts to
reduce GHG intensity and slow GHG emissions
growth, and longer-term efforts to build capacity
for future cooperation. It also means working
hand-in-hand with energy development companies in
both the developed and developing world to
encourage such participation.
The
IPP understands that in order for the U.S. to
achieve the target of reducing U.S. GHG intensity by 18
percent over the next ten years-that there is a
fundamental need for international cooperation
that will facilitate investment in projects that
produce measurable reductions in GHG emissions.
The IPP initiative recognizes that a series of
bilateral relationships will be necessary for an
effective global response to climate change and,
accordingly, IPP will encourage organizations to
participate in our project development process so
that new partnerships and private bilateral
investment patterns can emerge from this effort.
IPP will work hand-in-hand with other targeted
developed and developing countries and their
private industry to encourage such participation.
Through
its partnerships and within its own development
activities, IPP will identify energy projects in
the developing world that foster economic growth
in the U.S., as well as in the developing world.
These projects use measures that include
broad-based market programs as well as new and
cleaner energy production and pollution control
technologies. Clean energy technology transfer is
one of the important elements to help achieve the
U.S. GHG reduction goal. IPP is committed to
identifying and obtaining funding for projects
that promote the use of renewable energy and clean
energy technologies, among others. We believe that
much existing technology is not currently
exploited to its full potential and that there are
many number of examples of processes, equipment,
and practices which can use energy efficiently.
The
IPP will build on the past industry efforts to
promote, manage and register international
projects that have the potential to reduce GHG
emissions. With a modest U.S. federal government
investment, IPP believes that by promoting
specific energy project development, it can assist
the U.S government achieve significant actual GHG
reductions in accordance with the newly initiated
bilateral relationships.
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