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The Impact of Voluntary Measures and the Asia-Pacific Partnership
for Reducing Greenhouse Gas Emissions

International Council for Capital Formation
By Dr. Margo Thorning, Managing Director
April 5, 2006

Before the U.S. Senate Committee on Commerce, Science and Transportation
Subcommittee on Global Climate Change and Impacts

(Full Testimony - PDF)

Energy use and economic growth go hand in hand, so helping the developing world improve access to cleaner, more abundant energy should be our focus. Near-term GHG emission reductions in the developed countries should not take priority over maintaining the strong economic growth necessary to keeping the U.S. one of the key engines for global economic growth.

Establishing a mandatory cap and trade system in the US would impede, not promote, U.S. progress in reducing emissions intensity.


Dr.Thorning speaks at U.S. Senate hearing. Other experts at the hearing were Dr. David Montgomery (left) and David Doniger.
U.S. climate change policies should continue to strive to reduce energy intensity as the capital stock is replaced over the business cycle and to develop new, cost-effective technologies for alternative energy production and conservation and encourage the spread of economic freedom in the developing world. This approach is likely to be much more productive than having the U.S. adopt an ETS and thereby sacrifice economic well-being and job growth with little or no long-term impact on global GHG emissions.

Several provisions of the 2005 Energy Bill should have a positive impact on climate change. The new Asia-Pacific Partnership for Clean Development and Climate can also play a key role in transferring new technology to developing countries and help provide the practical assistance that is needed for a global approach to emission reduction.

Click here to read the full testimony (PDF).

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