Hagel/Pryor Climate Change Amendment Passes Senate
Hagel/Pryor Climate Change Amendment Passes Senate
An amendment to the Senate Energy Bill sponsored by U.S. Senator Chuck Hagel (R-NE), along with Senators Pryor (D-AR), Alexander (R-TN), Craig (R-ID), Dole (R-NC), Murkowski (R-AK), Voinovich (R-OH), Stevens (R-AK), and Landrieu (D-LA), passed today by a vote of 66 to 29. The amendment provides a comprehensive, voluntary approach to addressing the issue of climate change both domestically and internationally. Hagel's amendment is based on two bills he introduced earlier this year (S. 883 and S. 887). It focuses on the role of private-public partnerships, technology, and developing countries in reducing greenhouse gas emissions.
"We all agree on the need for a clean environment and stable climate. The debate is about solutions. Our amendment is a market-driven, technology-based approach that connects the public and private sectors and enhances the U.S. economy. It recognizes the need for U.S. leadership at home and with developing countries if we are to achieve meaningful reductions in greenhouse gases.
"Passing this amendment is a critical step forward in addressing climate change both internationally and domestically," Senator Hagel said.
Attached is a summary of the Amendment
Hagel/Pryor Climate Change Amendment
Sponsors: Alexander, Craig, Dole, Murkowski, Voinovich, Landrieu, Stevens
This amendment offers a comprehensive, voluntary approach to addressing the issue of climate change by connecting domestic and international economic, environmental, and energy policies. It takes a market-driven, technology based approach to climate change by using public-private partnerships to meld together the institutional leverage of the government with the innovation of industry. This amendment is based on S.883 and S.887.
Section One: The domestic section of the amendment promotes the adoption of technologies that reduce greenhouse gas intensity by:
authorizing such sums as necessary in the form of direct loans, loan guarantees, standby default coverage, and standby interest coverage for projects that deploy technologies that reduce greenhouse gas intensity;
establishing a Climate Coordinating Committee and Climate Credit Board to assess, approve and fund projects; and
directing the Secretary of Energy to lead an inter-agency process to implement a national climate change strategy.
Section Two: The international section of the amendment promotes the adoption of technologies that reduce greenhouse gas intensity in developing countries by:
providing the Secretary of State with new authority for coordinating assistance to developing countries for demonstration projects and technologies that reduce greenhouse gas intensity;
establishing an inter-agency working group to promote the export of greenhouse gas intensity reducing technologies and practices from the United States;
directing the U.S. Trade Representative to negotiate the removal of trade-related barriers to the export of greenhouse gas intensity reducing technologies; and
authorizing fellowship and exchange programs for foreign officials to visit the United States and acquire the expertise and knowledge to reduce greenhouse gas intensity in their countries.
Cost: This amendment authorizes such sums as necessary to fund these initiatives.
http://hagel.senate.gov/index.cfm?FuseAction=PressReleases.Detail&PressRelease_id=219345&Month=6&Year=2005