U.S. state governments join international carbon action partnership on global cap-and-trade carbon markets.

• Author: Crook, John R.

In October, several U.S. states joined with two Canadian provinces, New Zealand, Norway, the European Commission, and nine member countries of the European Union (France, Germany, Greece, Ireland, Italy, the Netherlands, Portugal, Spain, and the United Kingdom) to establish the International Carbon Action Partnership (ICAP). The participating U.S. states include five eastern states (Maine, Maryland, Massachusetts, New Jersey, and New York) that have joined together in the Regional Greenhouse Gas Initiative. (1) Other participants are the states of Arizona, California, New Mexico, Oregon, and Washington and the provinces of British Columbia and Manitoba--all participants in the Western Climate Initiative. (2)

The main page of ICAP's Web site explained this initiative:

On October 29, 2007, leaders of more than 15 governments met in Lisbon, Portugal to launch the establishment of the International Carbon Action Partnership (ICAP). ICAP is made up of countries and regions that have implemented or are actively pursuing the implementation of carbon markets through mandatory cap and trade systems. The partnership provides a forum to share experiences and knowledge ... Climate change is a global problem that requires global solutions. ICAP was formed to contribute to the establishment of a well-functioning global cap and trade carbon market. ICAP provides the opportunity for member countries and regions to share best practices and learn from each other's experiences. Linking current and emerging carbon markets at a global level establishes a level playing field for covered sectors and a consistent regulatory framework across national borders. Through this sharing, ICAP enhances the design of other market-based schemes by ensuring compatibility of design issues at an early stage. As a result, ICAP ... enhances the promise for development of future linked carbon markets. ICAP is an open forum comprised of public authorities and governments that have established or are actively pursuing carbon markets through mandatory cap and trade systems. Membership is open to all [such] public authorities and governments ... ICAP also welcomes observers from other states ... which are considering introducing cap and trade systems ... Business and environmental stakeholders have key roles to play as we move forward ... At its inaugural session, the U.S. states and other participants adopted a "Political Declaration." Excerpts follow:

We recognize the:

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