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Mayor's Summit Talks Cash for Pollution Cuts

Posted on: Wednesday, 13 July 2005, 12:00 CDT

Jul. 13--SUNDANCE -- Imagine a time when Salt Lake City government cut pollution so much, the city earned credit for its low pollution -- credit in the form of cash.

It's a possibility, said Salt Lake City Mayor Rocky Anderson, who is weighing the benefits and risks of signing the city up in the Chicago Climate Exchange.

"There's a reward for those who consistently reduce greenhouse gas emissions," he said on the final day of the Sundance Summit: A Mayor's Gathering on Climate Protection.

The climate exchange took center stage Tuesday as one innovative tool cities and businesses are using to cut the combustion emissions that contribute to global warming. The summit brought together 45 mayors from throughout the United States to talk about ways of tackling climate change on a local level.

The third and final day included presentations about working with utilities and local businesses to reduce energy consumption and promote alternative energy. Seattle Mayor Greg Nickels urged mayors to adopt a city-sized approach to the Kyoto Protocol, a worldwide treaty to curb global warming that the U.S. government has refused to sign.

Chicago Mayor Richard Daley began the day by coaching the mayors with examples from his Green Chicago program, which has added green space and lowered city energy costs. Daley's city was the first municipal member of the climate exchange. Salt Lake City would be the fifth if it joined soon.

The exchange is a computerized marketplace where credits for avoiding climate pollution -- from carbon and four other "greenhouse gases" -- are bought and sold the same way company stock is sold in New York and pork bellies are sold in Chicago.

Trading began in 2003. Now there are more than 100 members, including Dow Corning, Motorola, Inc. the Aspen Skiing Co. and even the Jesuit Community of Santa Clara University.

"This is the frontier of environmental finance," said the exchange's Paula DiPerna, who urged mayors to join the voluntary pollution trading program.

Europe has a similar exchange to help member nations meet the emission reductions required under the Kyoto treaty. In Europe, a ton of carbon pollution is traded at 20 Euros, or roughly $24 U.S. At the Chicago exchange trading prices have been closer to $1 to $2 a ton.

Less energy use generally means less pollution. Exchange members promise to reduce their pollution 1 percent a year over four years, based on the member's greenhouse gases between 1998 and 2000.

Members that get greater than promised reductions are free to sell pollution credits in the Chicago exchange.

Salt Lake City environmental staff has been studying possible membership since the beginning of the year. Anderson said he hopes to work with the City Council on joining the exchange if it appears Salt Lake City would benefit.

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DOW, GLW, MOT,

Source: The Salt Lake Tribune

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