Blog written by Paul Jones.
Tax Provisions in the American Recovery and Reinvestment Act Provide Relief to Taxpayers and Promote Clean Technology and Renewable Energy
As expected, the United States Congress passed, and last week the President signed into law, sweeping economic recovery legislation that expands existing, and establishes new, tax incentive programs to promote clean technology, renewable energy and green jobs. The legislation also provides businesses tax relief in certain areas.
Read the entire alert about the American Recovery and Reinvestment Act.
The American Recovery and Reinvestment Act (ARRA) is being scrutinized on every level, and the overall assessment is that the bill is good for green. From production tax credits to grants, weatherization to infrastructure investment, money is there to be received but you have to work quickly, and through the proper processes, to receive the funding. Watch for tight timelines and meet the dates!
Some programs are being implemented by the Department of Energy. On Thursday Energy Secretary, Steven Chu, announced he intends to streamline the process by which the Energy Department distributes funding, with the goal of dispersing 70 percent of its funds from the ARRA by the end of 2010. He is naming Matt Rogers as a senior adviser to implement the new department reforms which include rolling out appraisals of applications for loan guarantees, rather than waiting for the application deadline to evaluate them. He said that the loan application forms will be simplified and the department will speed up loan underwriting by using outside partners. The Treasury Department is also tasked with crafting regulations to implement the stimulus funding.
Specifically for Indiana, you should know the process for the:
Indiana Brownfields Program - Contact a Petroleum Remediation Grant consultant in your region. A potential project list will be compiled by March 4, 2009. Right now the list is focused on petroleum contaminated sites, however the program may be able to open site consideration to hazardous substances as well.
Indiana State Revolving Fund - Drinking Water and Wastewater programs. The Indiana Finance Authority (IFA) will be provided approximately $94 million to fund wastewater infrastructure projects and about $26 million to fund Drinking Water infrastructure projects. The IFA created the SRF Loan Program Recovery Loan and Grant Program. All standard SRF Loan Program requirements apply. Fixed rate loans (20- year terms) and grants are available. Make sure that your community has completed a Preliminary Engineering Report and have it filed with the SRF Loan Program by March 13, 2009.
As always think about where the remainder of the financing is going to come from. For instance, if you are applying for the 30 percent Department of Energy grant for eligible wind, biomass, geothermal and solar plants, make sure that you have a plan in place to fund the remaining 70 percent. Start talking with your investment and private equity team to craft the entire package.
Blog written by Paul Jones.
Congress is in the process of passing economic recovery legislation that would (if enacted) expand existing, and establish new, tax incentive programs to further those goals. Specifically, the American Recovery and Reinvestment Tax Act (the Act) contains several provisions that would provide expanded or additional sources of funds for green projects. If enacted in its current form, the Act would, among other things:
- Establish a 30% credit for investment in facilities that manufacture advanced energy property;
- Extend Code Section 45 renewable energy production tax credits by increasing the placed in service date for three years (through 2012 for wind and 2013 for other qualified facilities);
- Allow temporary election to claim 30% investment credit under Code Section 48 in lieu of the Code Section 45 production tax credit; and
- Expand the volume for Clean Renewable Energy Bonds (CREBs); and
- Expand the volume for the recently established Qualified Energy Conservation Bonds (QECBs), which like CREBs, are tax credit bonds.
The Act contains several other provisions, including those that would expand the New Markets Tax Credit program, revise certain tax-exempt bond limitations, and provide relief for cancellation of debt income.
Read the full text of an Ice Miller alert which contains more details on the points above.
And it was a whirlwind, no pun intended... Wednesday at the State House, the Indiana General Assembly was enlightened (really, this is too easy) by a group of local and national experts on topics ranging from photovoltaic opportunities, the Energy Systems Network and lithium batteries to a utilities take on where energy is headed. One common theme - in these tight capital markets regulation is necessary to jump-start the innovation and, if companies (and/or ratepayers, as the case may be) are going to be asked to foot the bill. The providers want cost recovery and the ratepayers are going to want to make sure that they are not disproportionally impacted. The AEP representative stated that the time to act in support of low/non-carbon technologies is now. He stated that AEP believes that the evaluation of a new nuclear power plant (1600 MW unit) is favorable in relation to continued use of fossil fuels, but caveated that any development on the issue would require a favorable regulatory environment (including cost recovery). Jesse Kharbanda of the Hoosier Environmental Council noted that a core weakness on renewables in Indiana right now is that there is no renewable energy policy at the state level. He provided that Indiana is the only state in the Industrial Midwest without a renewable energy standard. A second common theme was the discussion of "zero-carbon emitting technologies" and innovation that is growing around these areas. The presenters noted that these are key market opportunities. According to the presenters, the lack of a Renewable Energy Standard (RES) means that Indiana is losing out. Go to
http://www.in.gov/legislative/session/video.html to see a recording of the days events.
Following up on two major campaign themes, on Monday, January 26, President Obama stated that, "It will be the policy of my administration to reverse our dependence on foreign oil while building a new energy economy that will create millions of jobs." He directed the Environmental Protection Agency (EPA) by memorandum to Lisa Jackson, the new EPA administrator, to reconsider California's request for a waiver so that it can impose rules for automotive greenhouse gas emissions more strict than those of the federal government, according to the Wall Street Journal. Under the federal Clean Air Act, California needs an EPA waiver in order to set pollution standards that are stricter than other federal standards.
So goes California, so goes other states? While a final decision by EPA is not expected for several months, with the number of states that the "Bush administration had left idling on clean cars" (according to Chris Kearns of Environment Rhode Island) the states are waiting to act. Thirteen other states have already passed laws calling for the adoption of new rules as soon as the waiver is granted. However, not all of Indiana's neighbors are thrilled with the prospect. Sen. George Voinovich, R-Ohio, suggested that this was akin to hitting U.S. automakers when they are down. "I am fearful that today's action will begin the process of setting the American auto industry back even further," replied Voinovich in a written statement. "The federal government should not be piling on an industry already hurting in a time like this." President Obama refutes the assertion, saying "Let me be clear: Our goal is not to further burden an already struggling industry," Obama said. "It is to help America's automakers prepare for the future." Obama also directed his administration to get in place new fuel-efficiency guidelines for the auto industry in time to cover 2011 model-year cars.
Meanwhile, the Associated Press reports that Secretary of State Hillary Rodham Clinton on Monday, February 2 will appoint a special envoy for climate change as the Obama administration moves to restore America's credentials in environmental policy, according to U.S. officials familiar with her decision.
According to the summary of the American Recovery and Reinvestment Bill by the Committee on Appropriations (Obey, D-WI, Chair) action, and action now, is needed to pull the economy out of a "crisis not seen since the Great Depression." The bill contains targeted efforts to have clean, efficient American energy, summarized by the Committee as:
CREATE JOBS WITH CLEAN, EFFICIENT, AMERICAN ENERGY
To put people back to work today and reduce our dependence on foreign oil tomorrow, we will make investments aimed at doubling renewable energy production and renovate public buildings to make them more energy efficient. America’s energy shortcomings present a huge opportunity to put people to work in ways that will transform our economy.
- Reliable, Efficient Electricity Grid: $11 billion for research and development, pilot projects and federal matching funds for the Smart Grid Investment Program to modernize the electricity grid making it more efficient, secure and reliable and build new power lines to transmit clean, renewable energy from sources throughout the nation.
- Renewable Energy Loan Guarantees: $8 billion for loans for renewable energy power generation and transmission projects.
- U.S. General Services Administration (GSA) Federal Buildings: $6.7 billion for renovations and repairs to federal buildings including at least $6 billion focused on increasing energy efficiency and conservation. Projects are selected based on GSA’s ready-to-go priority list.
- Local Government Energy Efficiency Block Grants: $6.9 billion to help state and local governments make investments that make them more energy efficient and reduce carbon emissions.
- Energy Efficiency Housing Retrofits: $2.5 billion for a new program to upgrade HUD sponsored low-income housing to increase energy efficiency, including new insulation, windows and furnaces. Funds will be competitively awarded.
- Energy Efficiency and Renewable Energy Research: $2 billion for energy efficiency and renewable energy research, development, demonstration, and deployment activities to foster energy independence, reduce carbon emissions and cut utility bills. Funds are awarded on a competitive basis to universities, companies and national laboratories.
- Advanced Battery Loans and Grants: $2 billion for the Advanced Battery Loan Guarantee and Grants Program, to support U.S. manufacturers of advanced vehicle batteries and battery systems. America should lead the world in transforming the way automobiles are powered.
- Energy Efficiency Grants and Loans for Institutions: $1.5 billion for energy sustainability and efficiency grants and loans to help school districts, institutes of higher education, local governments and municipal utilities implement projects that will make them more energy efficient.
- Home Weatherization: $6.2 billion to help low-income families reduce their energy costs by weatherizing their homes and make our country more energy efficient.
- Smart Appliances: $300 million to provide consumers with rebates for buying energy efficient Energy Star products to replace old appliances, which will lower energy bills.
- GSA Federal Fleet: $600 million to replace older vehicles owned by the federal government with alternative fuel automobiles that will save on fuel costs and reduce carbon emissions.
- Electric Transportation: $200 million for a new grant program to encourage electric vehicle technologies.
- Cleaning Fossil Energy: $2.4 billion for carbon capture and sequestration technology demonstration projects. This funding will provide valuable information necessary to reduce the amount of carbon dioxide emitted into the atmosphere from industrial facilities and fossil fuel power plants.
- Department of Defense Research: $350 million for research into using renewable energy to power weapons systems and military bases.
- Alternative Buses and Trucks: $400 million to help state and local governments purchase efficient alternative fuel vehicles to reduce fuel costs and carbon emissions.
- Industrial Energy Efficiency: $500 million for energy efficient manufacturing demonstration projects.
- Diesel Emissions Reduction: $300 million for grants and loans to state and local governments for projects that reduce diesel emissions, benefiting public health and reducing global warming. This includes technologies to retrofit emission exhaust systems on school buses, replace engines and vehicles, and establish anti-idling programs. 70% of the funds go to competitive grants and 30% funds grants to states with approved programs. Last year EPA was able to fund only 27% of the applications received.
See the entire Committee on Appropriations summary. We'll all be watching Congress as they consider the bill in the next few weeks and its environmental and green provisions. Stay tuned for action!
Kelly Doria, an associate at Ice Miller, wrote this blog. I thought it was interesting.
Although the issue of climate change disclosure has generated much attention over the last few years, the SEC has yet to establish specific guidance on climate change related securities disclosures. But, this inaction has not stopped the state of New York from taking the lead by demanding climate change disclosures in public securities filings.
The New York State Securities Law, commonly known as the Martin Act, principally focuses on investigation and enforcement powers in preventing the investing public from fraud (compared to other states' Blue Sky laws that focus on the registration of securities). The Martin Act permits the New York attorney general to file civil or criminal charges of fraud in connection with the offer and sale of securities in and from the state of New York. In September 2007, New York Attorney General Andrew Cuomo subpoenaed the executives of several public energy companies (AES Corporation, Dominion Resources, Inc., Xcel Energy, Dynegy Inc. and Peabody Energy) for information on whether public disclosures to investors in filings with the SEC adequately described the companies' financial risks related to the emissions of global warming pollution.
In an agreement announced October 23, 2008, Dynegy Inc., a Delaware corporation headquartered in Texas and traded on the NYSE, agreed to provide disclosure of material risks associated with climate change in its next annual report on Form 10-K. Pursuant to the agreement, the required disclosure includes an analysis of material financial risks from climate change related to:
- Present and probable future climate change regulation and legislation;
- Climate-change related litigation; and
- Physical impacts of climate change.
Dynegy also committed to disclosing:
- Current carbon emissions;
- Projected increases in carbon emissions from planned coal-fired power plants;
- Company strategies for reducing, offsetting, limiting or otherwise managing its global warming pollution emissions and expected global warming emissions reductions from these actions; and
- Corporate governance actions related to climate change, including if environmental performance is incorporated into officer compensation.
A similar agreement was also reached with Xcel Energy in August 2008, while the investigations continue for AES Corporation, Dominion Resources, Inc. and Peabody Energy.
Voluntary climate change disclosures is a likely trend for oil and gas companies in 2009, but expect these disclosures to expand to other industries in the near future.
Or so said John Doerr at the U.S. Senate Committee on Environment & Public Works briefing titled, "Investing in Green Technology as a Strategy for Economic Recovery." The noted venture capitalist, a partner at Kleiner Perkins Caufield & Buyers, urged Chairman Barbara Boxer (D-CA) and the committee to encourage the enactment of vital policies to ensure speed and scale in addressing green technology. Advocating for a unified national smart grid and a price on carbon/carbon emissions, among other policy objectives he identified as vital, Mr. Doerr stressed that the United States must account for the cost of emitting greenhouse gases. Stating that, "battery-breakthrough's are the holy grail of greentech," Mr. Doerr cautioned that ingenuity and entrepreneurship must be fostered and developed domestically so that the United States is not left in the dust of its global competitors. Mr. Doerr's remarks followed the introduction by Tom Friedman, author of Hot, Flat and Crowded: Why We Need a Green Revolution, who in colorful terms described the need to simulate massive innovation by a price signal. Mr. Friedman did not advocate for a mechanism but prescribed that it must be accurate in speed, scope and scale. After all, he reminded the panel, Green IS the new Red, White and Blue. For a full replay of the hearing, go to http://epw.senate.gov/public/ under the "majority" page and view the recent webcast.
President-elect Barack Obama's appointments for key environmental and sustainability posts are getting mixed reviews. Commentators are varying from saying this is a "sea-change" from the Bush postings to noting that the appointments are seasoned government insiders. The green team includes:
Energy Secretary - Steven Chu, professor of physics and molecular and cell biology at UC Berkeley and director of the Lawrence Berkeley National Laboratory. Mr. Chu's appointment signals a focus on science by the administration, but some have noted that he does not have the political credentials to be effective. Having called coal "his worst nightmare," Midwestern states like Indiana will have to closely follow his coal policy and his stated interest in cap-and-trade regulation.
Assistant to the President for Energy and Climate Change (Energy "Czar") - Carol Browner, former EPA administrator. Noted as "well-vetted and safe" she was also widely criticized during her tenure with the Clinton administration as remaining silent during key determinations on EPA programs. However, Ms. Browner has clearly impressive credentials and is well-known to those inside Washington and in the environmental community generally.
EPA Administrator - Lisa Jackson, Governor Jon Corzine's chief of staff, previously head of New Jersey's Department of Environmental Protection. Ms. Jackson brings the view of the east coast in to the green team. So far she is the least well-received of the appointments, with environmentalists criticizing her track record at the state.
Chair, White House Council on Environmental Quality - Nancy Sutley - deputy mayor, Los Angeles. Ms. Sutley is another Californian in the mix. With Boxer and Waxman chairing the key legislative committees, west coast voices are now the power block on climate change.
Interior Secretary - Ken Salazar, Colorado Senate, is being criticized by environmentalists for his ties to ranching and traditional energy policy and his record in the Senate.
Media outlets are reporting that President-elect Obama delivered a videotaped message to California Governor Schwarzenegger's climate change summit vowing quick action to curb emissions and engage in international talks. Does this mean that climate change legislation is coming?
Conventional wisdom has been that given the current fragile economy it would be unlikely that Congress could be able to enact a cap-and-trade regime until the economy recovers. However, according to MSNBC, Obama's message told the scientists, executives, governors and foreign officials gathered at the conference that "[y]ou can be sure that the United States will once again engage vigorously in these negotiations, and help lead the world toward a new era of global cooperation on climate change."
(See Obama: Warming must be tackled now at www.msnbc.com) Obama said that he will establish strong annual targets that set the United States on a course to reduce emission to their 1990 levels by 2020 and reduce them an additional 80% by 2050. He said that his goal of $15 billion a year in incentives to get private capital moving towards clean energy technologies would produce five million green jobs that "pay well and can't be outsourced."
Pundits have been saying that Congress is not likely to act on a bill to tackle global warming. However, that does not stop the new administration from enacting administrative actions. Options for climate change regulation include not only legislation on cap and trade policy, but executive orders and regulation, such as pursuant to the clean air act, or litigation based changed brought by public interest environmental law groups to force judicial decisions on these issues. With opposition to regulation under the Clean Air Act for greenhouse gas emission growing, the opponents are bracing themselves for the initiation of Environmental Protection Agency (EPA) rulemakings and are scrutinizing the EPA's proposed advanced rulemaking.
In any case, President-elect Obama feels the time has come..."Now is the time to confront this challenge once and for all," Obama concluded. "Delay is no longer an option. Denial is no longer an acceptable response. The stakes are too high. The consequences, too serious."
Blog written by Mark Grant.
Last week, Congressman Dan Burton held a congressional hearing on green initiatives at the Keep Indianapolis Beautiful offices. This hearing brought together various constituents to discuss primarily green building. There were two panels presenting information. The first panel was primarily composed of LEED-certified individuals from the architectural and construction industries. The second panel, on which I spoke, included David Pittman from the Governor's Office, Kären Haley from the City of Indianapolis, Alexia Donahue-Wold from the City of Carmel, and Dave Sommer from Trane. Kären was recently appointed by Mayor Ballard as the Director of the new Office of Sustainability for the City of Indianapolis.
This congressional hearing was a great way for the various constituents to discuss green initiatives not only with and among each other, but also to present issues and concerns to the Congressman. Various members of the Congressman's staff were on hand, accumulating information. These constituents now have a baseline for conversations with the Congressman's office on these various green initiative issues.
It was exciting to see how this green initiative discussion has moved into the forefront of these various governmental offices - the State, major cities and the Congressman's office. The Congressman was very interested in discussing ideas and finding ways to incentivize developers and owners to undertake green building strategies in development. One of the major topics discussed with green building was energy conservation and timeliness of energy conservation with the current world markets. I look forward to the continuing dialogue among the various constituents.
I received a letter today as a US Green Building Council (USGBC) member from Rick Fedrizzi the CEO, President and Founding Chair of USGBC. It was interesting to read his take on what will happen to the green building movement in a world where the financial crisis has stolen the headlines. Mr. Fedrizzi's position is that it is "greed that led the world economy into crisis." He takes that position that this greed will not defeat our commitment to good work. "Fear will not dominate our agenda. And our commitment to change - even in the face of so great a challenge - will not waver."
Mr. Fedrizzi continues that "Change doesn't wait on Washington. And it doesn't depend on Wall Street. Change comes from within." The green building movement has been demonstrating that fact for more than 15 years. Before there was a single government green building policy, before the business community stood up and took notice, before there was a LEED - there was you. Thousands upon thousands of committed individuals dedicated to doing better by doing good. You've built this movement. You're building sustainable communities. And every single one of us has a contribution to make towards pulling our country out of this crisis."
I think that Mr. Fedrizzi's justification can be used to contemplate that more than green building - but green development, clean technology and the associated green jobs - will pave the way for a brighter economic future. "It will save money. It will save energy. It will help save our climate. And directly relevant to today's economic environment, it will create good, green, local jobs." His example is that USGBC estimates that a 100% commitment to greening existing commercial buildings alone would create more than 1.5 million new opportunities for employment for out of work Americans.
While I think it is oversimplifying social, business and cultural issues to say that greed got us here, I can agree that green can lead us out. Doing well by doing good is both a sustainable business and sustainable environmental message. If getting everyone in our business communities to be "greedy" - "greedy" in energy savings, "greedy" in job creation in our state, "greedy" in the reduction of greenhouse gas emissions, then I say environmental greed is good.
Hoping to turn environmental green into green money savings and job growth for the City of Indianapolis, Major Ballard kicked off Green Week events by announcing the new Office of Sustainability of the City of Indianapolis and introduced its Director, Karin Haley at a press conference at City Market. Major Ballard highlighted transportation initiatives (greening of the City's fleet), encouraging green construction and public-private partnerships as some of the elements of the City's commitment to sustainability. The Major highlighted that sustainability and environmental stewardship is responsible to the City's taxpayers and will move the City forward as well as develop green jobs. Yesterday, in a practical display of green industry at work the City Market hosted a green fair where vendors and Indianapolis businesses highlighted their contributions to the green marketplace. I chatted with folks at IPower who had a display highlighting how its heat and power units can provide energy independence by the efficient use of energy and the use of renewable energy which may lead to a 70% energy savings compared with power from the grid, and watched a mini-demonstration of ECI Wind and Solar's equipment power an electronic bug across it's display. I arrived too late for a sample of Endangered Species chocolate at the Keep Indianapolis Beautiful table, but thanked Renee for bringing their complete line of chocolate bars to their table. I think I'm going to incorporate a rain barrel from Green Way Supply into my home landscaping - I especially liked that the barrel is made from olive barrels from Italy. If only I can find a way to have the barrel water my plants for me. Maybe that is the next sustainability design step. Watch for environmental programs from the City starting next week with the new model for Indy Parks Monday, October 13th at Rhodius Park, 1720 W. Wilkins Street, 8:00 am. See today's IndyStar for a complete list of events.
With all of the talk of economic stabilization, recession, toxic debt, and presidential debates, green development discussions can get pushed to the curb. However, climate change is a hot topic among the presidential contenders. As part its efforts to address the country's economic situation the House approved H.R. 1424, the Emergency Economic Stabilization Act of 2008 (the Act) on October 3rd. The Senate passed the bill on October 1, 2008. President Bush signed the legislation. While the purpose of the Act was not "green" legislation, several provisions of the Act, especially those relating to bond development, were included and further green development opportunities. As summarized by the National Association of Bond Lawyers the provisions include:
- Another $400 million in Qualified Zone Academy Bonds (QZABs) authority for 2008 and 2009;
- $800 million in new Clean Renewable Energy Bonds (CREBs) authority and extension of the termination date for existing CREBs by one year;
- Extension and modification of the authority to issue Green Building and Sustainable Design Project Bonds (Green Bonds) until 2012;
- Tax-exempt bond relief to federally declared natural disaster areas in 2008 and 2009; and
- A new category of tax-credit bonds called Qualified Energy Conservation Bonds (see www.nabl.org). These and other provisions of the legislation address climate change and sustainability matters. Stay tuned for further developments!
By Paul M. Jones, Jr.
The INdiana Sustainability Alliance (INSA), a statewide network focused on sustainability issues, hosted its second event since its official launch earlier this year. On June 12, 2008, more than 50 people gathered to hear about the sustainability commitment of Cummins, Inc.
The event featured Michael F. Molnar, Director - Environmental Policy and Sustainable Development at Cummins, who highlighted initiatives and projects of the company. Mr. Molnar also answered questions from the audience on a wide range of issues, from how Cummins achieves investment return on its projects, to the internal marketing plan and posters that company established. Mr. Molnar provided unique insight into how a business can achieve sustainability goals that positively impact a firm's bottom-line.
Cummins is part of the Dow Jones Sustainability Indexes, and publishes the company's Sustainability Report on its website (www.cummins.com).
By Paul M. Jones, Jr.
At the June 12, 2008 event, INSA announced that its next event will be hosted by Vectren in Evansville. INSA is partnering with Vectren and USGBC Indiana to provide a half-day LEED Workshop for Contractors, followed by a panel discussion on the challenges and opportunities presented by green building. The Mayor of Evansville, Jonathan Weinzapfel, will provide a welcome address at noon prior to the LEED workshop. More details on this event will follow in the next few weeks. Please stay tuned.
By Paul M. Jones, Jr.
After a friendly hour of networking, Gerry Dick quickly got to work with the group that had assembled to discuss “going green in Indiana.” Based on the topics discussed, the color “green,” though at times prevalent, was not the only color harkened in one’s imagination. Grey, black, brown, white and blue were colors often more reflective of the imagery as the discussion raced from the blank pavement surfacing the entire Indianapolis landscape when looking out across the city from several floors up in an office tower to the coal which predominantly powers our state. From the riveting discussion of “trash-to-gas” potential in Indiana to white reflective roofs, one of which will soon grace the Keep Indianapolis Beautiful headquarters, and to the Colts and the opportunities presented by the Super Bowl in just four short years. Those were just a few of the colors, images and topics covered by the enthusiastic group.
What seemed to materialize in the course of conversation was evidence of both Indiana’s leadership and Indiana’s potential. On one hand, Indiana is a leader or will soon be a leader in the United States for wind development, biofuels, cellulosic fuels, hybrid battery technology and a host of cleantech industries. On the other hand, when compared to other states (or countries), Indiana lacks a renewable portfolio standard (like many other states), an attractive state tax credit (like Iowa or Ohio) to foster both solar, wind and biomass development and manufacturing of components like solar panels, wind turbines, etc., and by and large Indiana as a whole, while increasingly attentive to these issues, lacks education and/or the will to make changes in behavior that have been made (or forced) in other states.
There was some debate over the tension between allowing market forces to control versus using government revenues and/or mandates to speed things along. Politics aside, great ideas flowed and opportunities are clearly here in the Hoosier state. The challenge is how to bring resources, education and the will to accomplish the possibilities, but we seem to be on the right track.
It looks like the US Senate will be tackling climate change next week as its members debate S. 2191, the Lieberman/Warner Climate Change Act. According to a recent distribution by the Indiana Manufacturers Association (IMA), the "potential for negative consequences to the economy is extremely high." The IMA is encouraging members to urge voting against S. 2191. Information specific to Indiana can be found at the National Association of Manufacturers Web site.
However, not all parties agree that the cap and trade program to regulate carbon dioxide in the United States is unworkable. The bill calls for an emissions decline of 15% below 2005 levels by 2020. The National Wildlife Federation is asking its members to support the legislation. Find NWF information.
Weigh in on the debate by contacting Senators Lugar and Bayh and urge them to vote for or against S. 2191.
The INdiana Sustainability Alliance (INSA) hopes to repeat the success of its first event in an upcoming event next month. The event, which will be held June 12, will feature Cummins, Inc. representatives, including Michael F. Molnar their Director of Environmental Policy and Sustainable Development. Mr. Molnar will discuss the sustainability efforts of Cummins. Cummins is part of the Dow Jones Sustainability Indexes and publishes the company's Sustainability Report on its Web site (www.cummins.com). The event will be held at the Kite Auditorium, 30 South Meridian Street, Indianapolis, Indiana. The presentation begins at 6:00 p.m., followed by networking and food until 8:00p.m.
INSA promotes the growth of the sustainable development, green building, renewable energy, water management, and clean technology industries in Indiana. Founding partners of INSA include the Indiana Chapter of the United States Green Building Council, the Indiana Department of Energy and Defense Development, the Ball State College of Architecture Planning Indianapolis Center, the Richard G. Lugar Center for Renewable Energy, Ice Miller LLP, Clean Wave Ventures, LLC and Knoefler Enterprises, Inc.
For further information and to register for the June 12 event, visit INSA on the Web.
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