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![Page 1: Transatlantic Dialogue on Climate Change Innovation Drivers by Kevin Fay Executive Director International Climate Change Partnership November 20, 2004.](https://reader035.fdocuments.in/reader035/viewer/2022062511/55148584550346b2598b4cd9/html5/thumbnails/1.jpg)
Transatlantic Dialogue on Climate ChangeInnovation Drivers
by Kevin Fay
Executive DirectorInternational Climate Change Partnership
November 20, 2004Villa Vigoni, Loveno di Menaggio
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
![Page 2: Transatlantic Dialogue on Climate Change Innovation Drivers by Kevin Fay Executive Director International Climate Change Partnership November 20, 2004.](https://reader035.fdocuments.in/reader035/viewer/2022062511/55148584550346b2598b4cd9/html5/thumbnails/2.jpg)
Principle Industrial Drivers for Innovation
• Governmental Policy• Market Response to Supply and Demand• Consumer Demand
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
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U.S. Federal Legislative Policy
• Comprehensive Energy legislation• Energy tax initiatives• Clear Skies legislation• Carbon cap and trade legislation
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
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Federal Regulatory Policy
• Registry issues 1605b• Mercury rules• New Source Review rules• Methane to markets
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
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Individual State Actions
• Northeast (Regional Greenhouse Gas Initiative)
• California: Hydrogen Highway and Carbon reduction on autos
• Southwest Gov’s Coalition and renewable mandates at the state level
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
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The global energy picture
• Increased prices for oil, gas• Increased demand• Secure supplies?
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
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Projected U.S. Growth Rates
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
Source: U.S Department of Commerce, Bureau of Economic Analysis; U.S. Department of Labor, Bureau of Labor Statistics
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Projected U.S. Electric Growth
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
Source: Energy Information Administration, Annual Energy Review 2002, Department of Energy
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Significant Improvements in Existing and Development of New Technologies Are Required to Stabilize Concentrations
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
Source: Edmonds, J.A. and G.M. Stokes. 2004. “Launching a Technology Revolution,” in Climate Policy for the 21st Century: Meeting the Long-Term Challenge of Global Warming, The Brookings Institution, Washington, DC.
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Industrial Response
• Coal vs. Gas• Nuclear comeback• LNG• Technology vs. fuel switch
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
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Access and Supply
• NIMBY (Pipelines and Terminals)• New exploration horizons and regions
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
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Consumer Demands
• Clean vs. Dirty• Cost of operation• Reliability• Availability
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
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Future Business Issues for Attention
• Be engaged in all various global efforts• Maintain ability to capture early actions
regardless of regime• Enhance the opportunities for global
trading system
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
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Macro Points to Monitor
• Assure that changes in demand will be supported by supplies and infrastructure
• That regulatory actions provide certainty and clarity for investment returns
• Flexibility in the ability to meet future targets
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
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Where’s the Big Bang?
• Utilities• Transportation
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
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Global GHG Emissions - 2000
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
Source: www.epa.gov/methanetomarkets
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U.S. Carbon Emissions by Sector
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
Source: U.S Department of Commerce, Bureau of Economic Analysis; U.S. Department of Labor, Bureau of Labor Statistics
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Technological Breakthroughs Will Save Trillions of Dollars While Stabilizing Concentrations
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
Source: Edmonds, J.A. and G.M. Stokes. 2004. “Launching a Technology Revolution,” in Climate Policy for the 21st Century: Meeting the Long-Term Challenge of Global Warming, The Brookings Institution, Washington, DC.
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Developing Carbon Capture and Sequestration Technologies Can Save Hundreds of Billions of Dollars
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
Source: Edmonds, J.A. and G.M. Stokes. 2004. “Launching a Technology Revolution,” in Climate Policy for the 21st Century: Meeting the Long-Term Challenge of Global Warming, The Brookings Institution, Washington, DC.
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Improvements in Energy Intensity Achieve Significant Emission Reductions
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net
Source: Edmonds, Jae, 2004. Presentation to the Annual Meeting of the Global Energy Technology Strategy Project.
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Conclusion
• We need a quantum leap vs. an incremental gain
• We need to provide markets to step forward and provide most of these developments
• We need business and government to work across all of the political time zones
2111 Wilson Blvd, 8th Floor, Arlington, VA 22201 Phone: (703) 841-0626 Fax: (703) 243-2874 www.iccp.net