California Governor Schwarzenegger Issues Statement on International Carbon Action Partnership

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10/29/2007 -- California Governor Schwarzenegger today issued the following statement as California and a coalition of European Union countries, U.S. states and Canadian provinces formed the world's first International Carbon Action Partnership (ICAP) to develop solutions to global climate change. California was instrumental in spearheading ICAP and the international summit in Lisbon, Portugal, where the partnership was solidified today. The Governor did not attend the summit due to the Southern California wildfires. Instead, he addressed participants via video message from California.

“It is exciting for California to be a part of the International Carbon Action Partnership. This groundbreaking partnership is a historic step in the worldwide battle against climate change. In addition to regulations to reduce greenhouse gases, I firmly believe a global market for greenhouse gases will allow us to protect the environment while growing the economy. Last year in California, we took decisive action when I signed our landmark Global Warming Solutions Act of 2006. Today, 26 American states are working toward similar plans or they are developing them,” said Governor Schwarzenegger.

“This first of its kind partnership will provide more incentives for clean-tech investment and economic growth while not letting polluters off the hook. And it will help renew the health of our planet.

“I would like to thank Governors Eliot Spitzer of New York and Jon Corzine of New Jersey, Premier Gordon Campbell from British Columbia and Portugal Prime Minister José Sócrates for their strong partnership and great leadership in the fight against global warming.”

The ICAP will provide an international forum in which governments adopting enforceable caps on greenhouse gas emissions will share experience and best practice on the design of emissions trading mechanisms. ICAP will help ensure that trading mechanisms are compatible and work to boost demand for low-carbon products and services, promote innovation, and reduce the cost of effective reductions so as to allow swift and ambitious cuts in global warming emissions.

The ground-breaking international and interregional agreement was signed by U.S. and Canadian members of the Western Climate Initiative, northeastern U.S. members of the Regional Greenhouse Gas Initiative, as well as European Union members including the United Kingdom, Germany and Portugal, and the European Commission. Leaders attending the summit included: Prime Minister and EU Council President José Sócrates of Portugal; European Commission President José Manuel Barroso; Governor Jon Corzine, New Jersey; Governor Eliot Spitzer, New York; Premier Gordon Campbell, British Columbia; Minister Sigmar Gabriel of Germany; UK Secretary of State for Business, Rt. Hon. John Hutton; and Norway's Finance Minister Kristin Halvorsen.

The Governor also sent the following letter to Prime Minister and EU Council President José Sócrates of Portugal:

October 28, 2007

The Honorable José Sócrates
Prime Minister of Portugal
Gabinete do Primeiro Ministro
Rua da Imprensa á Estrela, 4
1200-888 Lisbon, Portugal

Dear Prime Minister,

Thank you for your leadership and hospitality in hosting the groundbreaking launch of the International Carbon Action Partnership (ICAP) in Lisbon. I have no doubt that this partnership, especially as it occurs during your presidency of the European Union, will quickly become the epicenter of discussion on market-based solutions to the most defining challenge of our century: global climate change. There are many different approaches to solving the challenge of global warming, and a uniform, global market for greenhouse gas emissions will unite us in our efforts to protect our environment while growing our economies.

As you may know, California is in the midst of wildfires on a tragic scale. President Bush has declared Southern California a major disaster due to the devastating fires that have burned hundreds of thousands of acres and forced at least as many Californians out of their homes. The economic consequences of this disaster will undoubtedly be extraordinary. The situation in California demands that I remain here and oversee the suppression of the fires while ensuring the safety of those who have been evacuated.

While I unfortunately will not be able to join you at this historic event, I have directed the Secretary of the California Environmental Protection Agency, Linda Adams, and the chairwoman of the California Air Resources Board, Mary Nichols, to attend in my stead. They are two of the top leaders of California’s efforts to tackle the challenge of global climate change.

I believe ICAP – considering its goal of linking the various regional greenhouse gas emissions trading systems – is in and of itself a revolutionary undertaking. We have a responsibility to be stewards of the environment and seek out unifying solutions and not half-hearted commitments. Make no mistake: By allowing the power of markets to reduce greenhouse gas emissions, there will be winners and losers. Some businesses will prosper, and some will be forced to pay for emitting more than they are allowed – but we know the biggest winner will be the health of our planet.

Thank you again for everything you and your staff have done to host this fantastic event. I look forward to catching up with you once the people of California are able to move forward from these devastating fires.

Sincerely,

Arnold Schwarzenegger

Source: California Governor