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2	Key Points Climate policy IS moving forward Agriculture IS being left out Opportunities for value-added markets in biofuels, soil carbon sequestration, manure-methane capture and more are possible Agriculture needs to join the debate
3	Solving Problems
4	California Passes Historic State Law to Combat Climate Change For Immediate Release: Contact: Margita Thompson Wednesday, August 30, 2006 Darrel Ng 916-445-4571 Statement by Gov. Schwarzenegger on Historic Agreement with Legislature to Combat Global Warming Gov. Schwarzenegger released the following statement regarding a deal struck between the Administration and the legislature on AB 32: "Today, I am happy to announce we have reached a historic agreement on legislation to combat global warming. "We can now move forward with developing a market-based system that makes California a world leader in the effort to reduce carbon emissions. The success of our system will be an example for other states and nations to follow as the fight against climate change continues. AB 32 strengthens our economy, cleans our environment and once again, establishes California as the leader in environmental protection. "Throughout the negotiations, my primary concern was that the Legislature passed a bill that provided the flexibility to address unforeseen circumstances. AB 32 will ensure that the state can make adjustments throughout its implementation. "When I ran for office, I promised to not only help protect the environment, but also help turn back the clock to make sure that the environment we leave for our children is better than the one we have today. The state is the 12th largest carbon emitter in the world despite leading the nation in energy efficiency standards and its lead role in protecting its environment. Reducing greenhouse gas emissions is an issue we must show leadership on. "It’s amazing the work that can be done for the people of California when Democrats and Republicans work together. I want to thank Assembly Speaker Fabian Nunez, Senator Don Perata and Assemblymember Fran Pavley for the hard work they have put in to make this agreement something we can all be proud of." ###
5	The California law allows for trading, but does not mandate it – agriculture offsets are not included in the law.
6	Northeast States Take Action – Agriculture Left Out! The initial phase of the cap-and-trade program will entail the allocation and trading of carbon dioxide allowances to and by sources in the power sector only. In a subsequent phase of the program, states and stakeholders will work together to develop reliable protocols for offsets (i.e., creditable reductions outside the power sector) that may be used to achieve compliance with the cap.
7	Corporations Gearing Up for New Bio-Markets
8	Financial Times June 20, 2006
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10	Bingaman / NCEP Draft Cost cap of $7/ton CO2 in 2010, increasing 5% annually. This ELIMINATES the ag offset market. Limited emissions trading. No recognition of sequestration in forests or soils U.S. taxpayers subsidize over $16 billion, including new nuclear power plants costing up to $2 billion
11	Climate Stewardship & Innovation Act (McCain-Lieberman) Allows flexible trading and banking of emissions Allows companies to offset 15% of emissions through offsets from agriculture
12	Carper Bill Allows banking and trading of “offset” credits Allows international carbon trading Allows unlimited agriculture offsets to meet greenhouse gas reduction targets
13	Key Question: As Policy Moves Forward, Who is Representing Agriculture’s Opportunity??
14	2004 Presidential Election by State
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16	Waste-to-Wealth
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19	If you are not at the Table