One of the more useful things that got tacked on to the recent omnibus federal spending bill was the requirement for the EPA to develop a federal registry to track industrial CO2 emissions.
Parsing out just how industrial emissions are measured is one of the stepping stones to implementing a cap and trade system. The EPA has 9 months to figure out a plan. Sutherland, Asbill, and Brennan have the gory details (pdf). They advise clients:
Businesses in the United States are about to be thrust into the process of having to actively assess and manage their carbon footprint.
Among the many questions we have would be how this would interact with voluntary registries like the EPA’s current 1605(b) and the California Climate Action Registry.
The measure costs a paltry $3.5M million dollars, and we have to applaud this baby step. After all, we can’t manage it, until we agree how to measure it.
Photo available under Creative Commons license from Flickr user chefranden