CERP Facts
WHAT IS CERP?
The Coalition for Emission Reduction Projects (CERP) exists to educate policymakers and the general public about the benefits of using offset allowances from domestic and international greenhouse gas (GHG) emission reduction projects as a means for regulated entities to meet their compliance obligations under a U.S. federal GHG regulatory program.
CERP MEMBERS
CERP brings together leading companies from the energy, financial services, and emissions reduction project development sectors.
CERP members include: American Electric Power, BlueSource, Deutsche Bank, Dominion, Duke Energy, Econergy, EcoSecurities, El Paso Corporation, Environmental Credit Corp, Equator Environmental, First Climate, Leaf Clean Energy Company, MGM International, and Stark Investments.
HOW DOES CERP DIFFER FROM OTHER COALITIONS AND ASSOCIATIONS WORKING ON US CLIMATE CHANGE POLICY ISSUES?
Like some other groups, CERP brings together parties with business interests in the climate policies and the carbon markets. However, CERP has a unique focus and membership profile. CERP is solely focused on the issue of offsets, and is not taking positions on other elements of U.S. climate change policy at this time. Secondly, CERP’s membership is broad-based, bringing together not only companies that develop and finance emission reduction projects, but also companies that expect to purchase offsets for compliance purposes.
CERP contemplates working collaboratively with other like-minded coalitions and associations that are working in this area.
WHAT ACTIVITIES DOES/WILL CERP UNDERTAKE?
CERP exists to educate U.S. policymakers, industry associations, NGOs, and the public about the contribution emission reduction projects can make toward the goal of reducing GHG emissions, and to ensure that a U.S. GHG regulatory program fully recognizes this contribution.
To this end, CERP will make available resources and research from its members, host industry roundtables and other public events, develop proposed legislative and regulatory proposals, and advocate its principles before the Congress and Executive Agencies.
CERP PRINCIPLES
As described more fully in CERP’s Statement of Principles (see sidebar), CERP believes that any U.S. federal GHG regulatory program must adhere to the following principles:
- A U.S. GHG regulatory program should employ a market-based approach.
- Entities regulated under a U.S. GHG regulatory program should be given the option of achieving their compliance obligations through the use of offset allowances from qualifying emission reduction projects.
- Offset allowances should be available only for projects that achieve emission reductions that are additional, permanent, independently verified, enforceable, and measurable.
- There should not be arbitrary geographic or quantity limits on the use of reductions from qualifying emission reduction projects.
- The project approval process should be transparent and rely on established, approved project types and methodologies, with clear procedures to approve new methodologies and project types.
- Offset allowances should be available from an expansive set of sectors, activities, and countries.
- A U.S. GHG regulatory program should allow for the use of offset allowances from international projects that can meet U.S. standards for quality.
- Entities that implement emission reduction projects prior to the establishment of a U.S. regulatory program should be awarded offset allowances for early action if those projects meet the relevant quality standards.
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Van Ness Feldman provides support to the Coalition. For more information, contact Tom Roberts (202.298.1930, tcr@vnf.com) or Kyle Danish (202.298.1876, kwd@vnf.com).