Based on the commitment of both the presidential candidates and the regional initiatives across the US, it appears that a national Carbon Cap and Trade System may be legislated within the next presidential term. This presentation will focus on the following:

1. California AB 32 rulemaking and California Air Resource Board (CARB) proposed plan for Cap and Trade System.

2. The various state initiatives including the Regional Greenhouse Gas Initiative (RGGI) by North Eastern and Mid Atlantic States.

3. A brief introduction to the Kyoto Protocol, European Union Emission Trading System (EU ETS) and the United Nations Clean Development Mechanism (CDM).

4. The voluntary carbon market currently operating in the US. Offset creation and use for voluntary and compliance purpose.

5. The key issues that law makers in the US are likely to address in any future legislation.

6. Key points of a Cap and Trade System Design – Allocations, linkages, price caps and offsets.

7. Early action companies can take to get benefits from any potential Carbon legislation and address concerns from investors and customers.

8. How some US companies are taking actions to prepare for Carbon legislation and market.