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Financial In Market A federal report faults the U.S. Environmental Protection Agency and New Jersey for failing to enforce and oversee a program that was designed to reduce air pollution in the state. The report by the EPA's Office of Inspector General takes aim at a program launched by former Gov. Christie Whitman that allowed New Jersey companies to pollute the air more than government regulations allowed as long as they purchased "credits" from other companies that significantly reduced their air emissions. Whitman is now head of the EPA.

The New Jersey Greenhouse Gas Action Plan calls for reducing the state's GHG emissions to 3.5% below 1990 levels by 2005. Will we reach that goal Athena Sarafides (NJDEP) will speak about the state's programs to reduce GHG emissions, how much impact they have, and how far they will take us towards our target. Emily Rusch (NJPIRG) will speak about bills now under consideration in the state legislature that would further reduce New Jersey's energy consumption and GHG emissions and the prospects for their passage this year.

Oriental Trading State Department of Environmental Protection Commissioner Bradley Campbell last month declared the program "a failure" and said he would scrap it.

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Financial Forex Forex Software According to the report, the EPA and the state did not do enough to make sure the Open Market Emissions Trading program worked. It cited "lack of safeguards, use of data of uncertain quality, and limited regulatory oversight of trading activities."

Each country has targets to reach for reducing greenhouse gas emissions including 8% for European Union, 7% for U.S., and 6% for Japan. The agreement provides incentives for cutting pollution through a system of emissions trading. A country that emits less than its quota of greenhouse gases can sell emission credits to polluting nations. In addition, a country may receive credits through shared clean energy programs and carbon dioxide "sinks" in the form of forest or other ecosystems that remove carbon dioxide from the air.

Trading Under emissions trading, companies that reduce their emissions below government requirements receive credits they can sell to other companies that have exceeded emissions standards. The program operates under the premise that because air pollution travels over long distances, there will be a net decrease in pollution even if some companies are polluting more.

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Trading Financial System But from its start in 1996, the program has been controversial.

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Day Trading While Whitman's administration touted the voluntary program as a national model, environmentalists argued it let polluters off the hook and did nothing to reduce air pollution.

Forex Financial Trading The Whitman, as administrator of the EPA, is promoting a similar pollution prevention program she would like to adopt nationwide. The federal program, however, has more environmental safeguards than the one launched in New Jersey.

Fortune Make Option Trading "The inspector general's report shows this program should not be a national model as EPA Administrator Whitman is touting," said Jeff Tittel, director of the New Jersey Sierra Club.

Science Of Financial Market Campbell said the report issued this week "reinforces the fact that we were right to end the air emissions trading program.

Future Trading But EPA spokesman Joe Martyak said Campbell should work with the EPA to re-craft the program rather than scrap it.

Financial Sales Services "For him to just take his marbles and go home is sort of unfortunate," Martyak said. "The whole purpose behind the program is to encourage emissions reductions."

Commodity Trading By Anthony S. Twyman
Star-Ledger - 10/4/2002

Topic: Air Pollution

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