New Western U.S., Canadian Initiative to Curb Global Warming Will Create Robust Carbon...

New Western U.S., Canadian Initiative to Curb Global Warming Will Create
Robust Carbon Market

Regional Market Will Facilitate California's Implementation of Global Warming
Solutions Act

SACRAMENTO, Calif., Sept. 23 /PRNewswire-USNewswire/ -- Seven western states
and four Canadian provinces in the Western Climate Initiative (WCI) issued
their final recommendations today for the creation of a cap-and trade system
to reduce global warming.

"This landmark action by a diverse coalition of Democratic and Republican
governors as well as Canadian premiers is a powerful signal to the world that
now is the time for dramatic action to stem global warming," said Derek
Walker, Director of the California Climate Initiative at Environmental Defense
Fund (EDF). "This bold leadership will strengthen California's economy and
make the region a hub of clean technology and green job growth."

The WCI includes Arizona, California, Montana, New Mexico, Oregon, Washington
and Utah and the Canadian provinces of British Columbia, Manitoba, Quebec and
Ontario. The WCI represents 73% of Canada's economy and 20% of the U.S.
economy with a total population of 84.6 million people. The climate change
actions it proposes will constitute North America's largest carbon market.

"Cap-and-trade provides incentives for early action and inspires innovation
and investment in the technologies of the future," added Walker, pointing to
the successful U.S. cap-and-trade program in the 1990s to solve the acid rain
problem, which ultimately cost much less and succeeded more rapidly than
anticipated.

Walker added that the WCI agreement is the first of its kind to cap emissions
from transportation, a tremendous source of pollution in California and
throughout the region.

"Today's WCI announcement represents an important tipping point," concluded
Walker. "This move is a triumph of action over inaction. It is a signal to the
U.S. and Canadian governments -- and to the world -- that a mandatory cap on
greenhouse gas pollution is the most economically viable and environmentally
effective tool we have to curb global warming."

About Environmental Defense Fund
A leading national nonprofit organization, Environmental Defense Fund
represents more than 500,000 members. Since 1967, Environmental Defense Fund
has linked science, economics, law and innovative private-sector partnerships
to create breakthrough solutions to the most serious environmental problems.
For more information, visit www.edf.org.

CONTACT:
Jesus Mena
415-948-4220 - c
jemena@edf.org

Derek Walker
410-980-0939 - c
dbwalker@edf.org

SOURCE Environmental Defense Fund

Jesus Mena, +1-415-948-4220-c, jemena@edf.org or Derek Walker,
+1-410-980-0939-c, dbwalker@edf.org, both of Environmental Defense Fund