EDF Calls for Colorado Congressional Delegation to Support Credit for Businesses that Make Voluntary Reductions of Greenhouse Gases

The Environmental Defense Fund (EDF) today called for the Colorado Congressional delegation to support national legislation that would give credit to companies that voluntarily invest in reductions of greenhouse gases. According to a recent report issued by the State of Colorado, in 1990 sources in Colorado emitted 83 million tons of carbon dioxide along with other greenhouse gases. Accumulation of greenhouse gases in earth’s atmosphere is beginning to change Earth’s climate. EDF is working to implement policies and incentives to help reduce emission of these gases and quell the environmental threats associated with climate change. “Colorado is a significant contributor to the United States’ overall emissions of greenhouse gases. It makes good sense for Colorado’s national representatives to support legislation that would give credit to businesses that take voluntary steps to reduce greenhouse gases, and to thereby reward positive action,” said EDF attorney Vickie Patton.

Bipartisan legislation introduced at the end of the 105th Congress was designed to give credit to firms that voluntarily reduce greenhouse gases. Senate Bill 2617, sponsored by Senators John Chafee (R-RI), Connie Mack (R-FL) and Joseph Lieberman (D-CT), would have provided credit for companies who take early steps that reduce their overall emissions of domestic greenhouse gases. Similar legislation is expected to be introduced this session. Under Senate Bill 2617, credits could be either saved for use in meeting future domestic emissions reduction requirements, or sold to other companies who might need them to help manage their own emission reduction schedule.

“By supporting credit for voluntary reductions of greenhouse gases, Colorado’s decision-makers will help ensure that Colorado companies can more readily coordinate decisions that are important to the environment with decisions that are important to the bottom line,” stated Patton.