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Climate Policy Watch

RESPONSIBLE INVESTMENT GROUP RELEASES GUIDE TO CLIMATE RISKS

The responsible investor group CERES is out with a first-of-its-kind guide for investors who want to reduce their climate risks, and institutional investors such as state treasurers are praising the report.

A CERES source says the group decided to produce the guide following an investors' summit last fall on climate risks. Also following the summit, groups asked the Securities & Exchange Commission (SEC) to require mandatory climate change risk disclosure, a move the SEC is considering, according to sources familiar with the request.

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FIVE NEW ARB MEMBERS' FIRST TEST INCLUDES VEHICLE GHG REGULATION

Five new air board members appointed last week by the governor are scheduled to attend their first board meeting Sept. 23, and decide on a landmark proposal to require automakers to reduce greenhouse gas (GHG) emissions beginning with the 2009 model year. Some sources said they believe the new crop of members may be slightly more sympathetic to industry concerns in general, but the retention of Alan Lloyd as chairman means the board's overall policy agenda is unlikely to change.

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FIRST-TIME CALIFORNIA CLIMATE RULE TO FACE INDUSTRY CHALLENGE

California air regulators have released a sure-to-be-litigated proposal for the nation's first regulation controlling greenhouse gas emissions from vehicles, estimating the requirements would add $292 to the cost of cars and $308 to light trucks during the first phase of the rule, which would begin in 2009.

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DOE EXPECTED TO DELAY FINAL CLIMATE REGISTRY UNTIL AFTER ELECTION

The Department of Energy (DOE) has delayed revisions to a high-profile, voluntary greenhouse gas reporting program, making it unlikely that the department will meet a prior commitment to finalize the proposal around the time of the November election.

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ENVIRONMENTALISTS QUESTION TIMING OF BUSH GREENHOUSE GAS INITIATIVE

Environmentalists are questioning the timing and political motivation of the Bush administration's July 28 announcement of a major international initiative that will be negotiated later this fall to reduce the greenhouse gas methane. The announcement caught a number of environmentalists off guard and prompted speculation that the unveiling was timed to coincide with the Democratic National Convention, where the administration's global warming policies were a high-profile target of the president's critics.

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DOE Expected To Delay Final Greenhouse Gas Plan Until After Election

The Department of Energy (DOE) has delayed revisions to a high-profile, voluntary greenhouse gas reporting program, making it unlikely that the department will meet a prior commitment to finalize the proposal around the time of the November election, according to DOE and industry officials.

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ENVIRONMENTALISTS CHALLENGE NADER BY CONTRASTING KERRY, BUSH

Environmentalists are responding to Ralph Nader's presidential candidacy by emphasizing what they say are stark differences between President Bush and Sen. John Kerry (D-MA) on environmental issues.

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Conservatives List Key Senators In Lobbying Against Climate Change Bill

A conservative think tank has targeted 15 senators in a memo to lobbyists to help them dissuade the lawmakers from switching their votes to support McCain-Lieberman climate change legislation, while expressing concerns over an intensified campaign by environmentalists who are calling on the Senate to pass the bill, which would establish first-time controls on carbon dioxide emissions.

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ENVIRONMENTALISTS SEEK TO REDUCE NADER ROLE BY CONTRASTING KERRY, BUSH

Environmentalists are responding to the election-year threat of Ralph Nader in his appeal to pro-environment voters by attempting to minimize his role in the presidential race by emphasizing what they say are stark differences between President Bush and Sen. John Kerry (D-MA).

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KEY SENATORS OFFER DIM OUTLOOK FOR NEW VOTE ON CLIMATE CHANGE BILL

Prospects for a new Senate vote this year on controversial climate change legislation appear murky in the face of concerns from Senate Majority Leader Bill Frist (R-TN) that it might intrude on limited floor time and because of lobbying by the bill's opponents to squelch new support for it, key senators and other sources say.

Nevertheless, Sens. John McCain (R-AZ) and Joe Lieberman (D-CT) say they are pushing ahead with their efforts to bring their climate change bill to a vote and are calling for a grassroots campaign in the upcoming election to raise the profile of the issue.

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