Hill Heat

The Environmental and Energy Study Institute (EESI) and the House Energy Efficiency and Renewable Energy Caucus invite you to a briefing addressing the impacts of the President’s FY 2009 budget on energy efficiency and renewable energy (EE/RE) programs, including impacts upon states and low-income consumers. In addition, the urgent need to extend Federal tax incentives for EE/RE will be discussed. Energy efficiency and renewable energy technologies are critical elements of a national energy policy that will meet the nation’s goals of reducing energy imports, moderating energy prices, and improving the economy, national security, the environment and public health.

Panel

• Deborah Estes, Majority Counsel, Senate Energy and Natural Resources Committee
• Scott Sklar, President, The Stella Group; Chair, Sustainable Energy Coalition Steering Committee
• Bill Prindle, Deputy Director, American Council for an Energy Efficient Economy
• Jeff Genzer, General Counsel, National Association of State Energy Officials; Duncan Weinberg, Genzer & Pembroke

Witnesses

• Dr. David L. Greene, Corporate Fellow, Oak Ridge National Laboratory, Center for Transportation Analysis
• Bob Dinneen, President and CEO, Renewable Fuels Association
• Dr. Mary Beth Stanek, Director of Environment and Energy Policy and Commercialization, General Motors
• Dr. Don Hillebrand, Director of Center for Transportation Research, Argonne National Laboratory
• Lynda L. Ziegler, Senior Vice President of Customer Service, Southern California Edison
• Tom Stricker, Director Technical and Regulatory Affairs, Toyota Motor North America

From E&E News:

Overall, the president’s $10.7 billion budget proposal released last week represents a slight decrease from last year’s budget, with funding shifted from standard functions like construction and range improvement for specific department initiatives.

Kempthorne defended the cuts when testifying before the House Interior Appropriations Subcommittee last week, calling the cuts “strategic reductions” that reduce overlap with other federal efforts while boosting funding for key department priorities.

“In tight budgetary times, I do feel that to the extent possible that we have to balance the budget, and by balance I mean with the issues,” Kempthorne said.

The National Park Service, for example, would receive $2.4 billion – a $47 million cut – but the request would also increase the service’s operations budget by more than $160 million, to $2.1 billion, making it the largest budget for park operations ever.

The increased funding for park operations is part of Bush’s National Parks Centennial Challenge in honor of NPS’s 100th anniversary. The plan calls for $1 billion – $100 million over each of the next 10 years – in donations from the public, friends groups and corporations, to be matched “dollar for dollar” in mandatory funds by Congress.

Kempthorne is expected to ask for support for the matching funds. The administration is also looking for additional funding for its Water for America, Birds Forever, Oceans and Coastal and Safe Borderlands initiatives.

Witness

• Secretary Dirk Kempthorne, Department of the Interior

The 2008 Investor Summit on Climate Risk will bring together more than 450 institutional investors, Wall Street leaders and CEOs from around the world to consider the scale and urgency of climate change risks, as well as the economic opportunities of a global transition to a clean energy future.

Purpose

The purpose of the Summit is to provide a high-level forum for state treasurers, leading institutional investors, and financial services firms from around the world to consider the scale and urgency of climate change risks, as well as the economic opportunities of a global transition to a clean energy future.

Objectives

Based on a vision of hope and opportunity, the Summit will focus on how investors can advance solutions to climate change, with a particular emphasis on the benefits of energy efficiency. The Summit aims to help investors:

• Examine recent scientific findings on climate risk and technological solutions
• Assess potential capital flows into energy efficiency and clean technologies
• Learn how treasurers, institutional investors and financial services firms worldwide are factoring climate risk into their policies and strategies
• Consider prudent steps investors can take to address climate risk and opportunities

Background

The 2008 Summit builds on the groundbreaking success of the first two UN Investor Summits on November 21, 2003, and May 10, 2005. Hundreds of institutional investors and asset managers from around the world, representing trillions of dollars in assets, attended the previous Summits. The information they shared raised profound concerns about investor exposure to climate risk, the future security of investment assets, and the fiduciary duty to take prudent steps to address climate risk on behalf of shareholders and beneficiaries. Information on previous Summits can be found at the Investor Network on Climate Risk website.

Climate Risk – and Opportunity

Climate change poses regulatory, legal, physical and competitive risks for companies. In the two years since the 2005 Summit there has been a growing recognition that climate change presents serious risks, not only for businesses and investments, but also for the global economy. Left unattended, risks from climate change will worsen over time, harming company assets and global investment portfolios. Leading economists, investors, and business leaders have stated recently that the costs of action to reduce greenhouse gas emissions are both affordable and significantly lower than the costs of inaction. Where there are risks, there are also opportunities, and the business opportunities posed by addressing climate change are significant. With the proper government policies and market conditions, low-carbon technologies that are available today could be more broadly deployed, and significant reductions in emissions could be achieved over the next few decades—all while creating vast new economic opportunities and new jobs.

Witnesses

• Jennifer Haverkamp, Senior Counsel, Environmental Defense, Washington, DC
• Abraham Breehey, Assistant Director of Government Affairs, International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers & Helpers
• Kjell Olav Kristiansen, Director, Advisory Services, Point Carbon North America
• Ruksana Mirza, Vice President, Government and Environmental Affairs, Holcim, Inc.

Witness

• Stephen Johnson, Administrator, U.S. Environmental Protection Agency

CSIS is pleased to host Christine Todd Whitman, former governor of New Jersey, for a discussion on the future of U.S. foreign assistance, energy and environmental sustainability. Frank A. Verrastro, Director and Senior Fellow, Energy and National Security Program, will moderate.

The Smart Power Speaker Series features policymakers, practitioners and opinion leaders from around the world and across the political spectrum to engage in a discussion on U.S. Smart Power. The series is a spin-off of the CSIS Commission on Smart Power.

The Commission on Smart Power, chaired by Harvard’s Joseph Nye and former deputy secretary of state Richard Armitage, issued a report on November 6, 2007 on how to revitalize America’s image and influence in the world. To read the report or obtain further information, go to www.csissmartpower.org.

Coffee, tea, and soda will be served.

1800 K Street, NW
CSIS B1 – Conference Center
Washington DC, 20006

Please RSVP by emailing Sierra Stanczyk at [email protected] or calling 202-887-0200 ext. 3946

From E&E News:

Overall, the fiscal 2009 USDA budget would cut discretionary spending by 4.8 percent. The major increases in the budget would go to food assistance programs to cover the growing number of people who qualify for food stamps and other aid programs. Two of the hardest hit areas of the budget would be research and conservation, which would each see budget cuts of almost 15 percent.

The administration’s proposal would cut more than 10 percent from USDA’s research budget, which includes a wide range of programs, from livestock safety to farm-based energy, biotechnology and food safety. USDA Deputy Secretary Chuck Conner said last week that the cuts came from wiping out congressional earmarks for different research projects.

The White House also made what has become an annual effort to zero out funding for a number of discretionary programs it says are redundant, including local watershed surveys and flood prevention programs. The Bush administration has tried to eliminate the programs in previous years, but congressional appropriators have restored them each year. DeLauro noted she plans to restore the funds again this year.

This year the administration also targeted a popular renewable energy program in its spending cuts for the first time. The budget includes no funding for grants or loans for the “Section 9006” renewable energy program, which gives money to help farmers improve energy efficiency on their farms and develop small on-farm business ventures in wind, solar, biomass or geothermal energy.

The House and Senate both proposed large increases for the renewable energy program in last year’s farm bill and appropriations measures, and the administration had proposed expanding it in the farm bill. USDA included it this year in a list of programs that “serve limited purposes for which financing and other assistance is available.”

Witness

• Edward Schafer, Secretary of Agriculture