Nature Conservancy Reacts to This Morning's Waxman-Markey Developments

Deal has been reached on the allowance allocation; important implications for wildlife, natural adaptation efforts

ARLINGTON, VA - May 15, 2009 - We understand that an agreement has been reached on the allowance allocation that would be included in the American Clean Energy and Security Act. The Nature Conservancy is grateful to the committee’s leadership for its excellent work on this challenging but critical issue.

As we understand, the bill text that will be released today will dedicate significant allowance value to conserve our natural resources, which are increasingly stressed as the globe warms.

We understand that the allocation would dedicate 5% of allowance value to prevent tropical deforestation and build capacity to generate international deforestation offsets. This unprecedented commitment provides a real chance of preserving the world’s tropical forests, and could be critical to achieving a global deal on climate change in Copenhagen. Tropical forest destruction accounts for 20% of global greenhouse gas emissions – more than all the planes, trains, trucks, and automobiles around the world. We thank Chairmen Waxman and Markey for including this remarkable provision in legislation, which promises to commit billions of dollars annually to this purpose. We also salute Congressman Boucher and other members of the Energy and Commerce Committee for their strong support of the tropical forest provisions.

Of special note, the agreement would provide dedicated funding for wildlife and natural resource protection across the United States, reaching an estimated $4 billion by 2027. Natural systems are under profound stress as the climate changes. Dedicating funding to this purpose will protect America’s natural resources – our great national legacy. We are profoundly grateful to Chairman emeritus John Dingell for his unwavering and steadfast commitment to protecting this legacy.

We also note with gratitude the bill’s commitment to international adaptation and clean technology transfer. These investments will also be essential to reclaiming America’s place as a leader in the world. The Nature Conservancy is especially appreciative that the bill recognizes the need to help human communities adapt to the disruptions in climate that are already becoming apparent. Natural resource conservation is an important part of this effort, and this contribution will be essential to building a sustainable future.

The size of the challenge ahead to protect people and the ecosystems upon which they depend is daunting. The Committee and its leaders have provided an important down payment. We look forward to working with the Congress to create adequate support for helping people and nature around the world prepare for the changes that will affect all of us profoundly.

We thank the leaders on the Committee for their far-sighted inclusion of these provisions and encourage all the members of the Committee to support them in the markup of climate legislation next week

The Nature Conservancy is a leading conservation organization working around the world to protect ecologically important lands and waters for nature and people. The Conservancy and its more than 1 million members have protected nearly 120 million acres worldwide. Visit The Nature Conservancy on the Web at www.nature.org.