NRDC Receives Grant to Analyze Options for Using the Economic Value Created by a Cap-and-Trade System

Aims to identify how to maximize benefits for the climate and the economy,
WASHINGTON (November 18, 2008) –The Natural Resources Defense Council (NRDC) announced today the receipt of a $750,000 grant from the Doris Duke Charitable Foundation (DDCF). The grant will enable NRDC to conduct a thorough analysis using economic models to answer questions surrounding the emission allowances to be distributed by the government under a cap-and-trade approach to combating climate change. 
“NRDC is honored to receive this grant,” said Dan Lashof, Director of NRDC’s Climate Center. “It will allow us to conduct cutting-edge analysis which we will use to inform the development of efficient and effective climate policy in the Obama administration and the 111th Congress.”
President-elect Obama has promised to pursue a cap-and-trade program, including the auction of emission allowances and strategic investments in clean energy technologies. Those emission allowances will be worth billions of dollars per year. Analyzing the most effective way to use that value to create jobs, protect consumers, accelerate the deployment of low-carbon technologies, and minimize compliance costs is critical to advancing global warming solutions.
“The questions surrounding emission allowances and the economic value they create need to be addressed, in the near term to inform upcoming debates on the optimal design of a cap-and-trade system for the U.S.,” said Andrew Bowman, Director of the Climate Change Initiative at DDCF. “NRDC, with its strong technical and analytical abilities is well-positioned to analyze this issue and make solid, non-partisan policy recommendations.”
The grant will enable NRDC to continue its work researching, developing and promoting policies that reduce global warming emissions, while demonstrating to consumers the benefits of a clean energy economy that reduces dependency on foreign oil, provides new economic opportunities, and protects our environment  
Initial results of this analysis are expected early in 2009.