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30 October 2007 - A coalition of the European Commission, European countries, US states, Canadian provinces, New Zealand and Norway have formed an International Carbon Action Partnership to fight global warming, the partners said Monday in Lisbon.
"ICAP will provide an international forum in which governments and public authorities adopting mandatory greenhouse gas emissions cap and trade systems will share experiences and best practices on the design of emissions trading schemes," said ICAP in a statement.
"This cooperation will ensure that the programs are more compatible and are able to work together as the foundation of a global carbon market."
The European ICAP partners are the EC, France, Germany, Ireland, Italy,
Netherlands, Portugal and the UK. They are joined by the northeast US Regional Greenhouse Gas Initiative members--Maine, Massachusetts, New Jersey and New York, and the US-Canadian Western Climate Initiative members--Arizona,
British Columbia, California, Manitoba, New Mexico, Oregon and Washington.
ICAP plans to work on "rigorously and accurately" monitoring, reporting and verifying emissions, and to determine reliable sources to include in a globally linked program.
It wants to encourage common approaches and further partners' ability to link together to expand the global carbon market, helping to prevent leakage.
It wants to create a clear price incentive to innovate, develop and use clean technologies, and to encourage private investors to choose low carbon projects and technologies, generating the flow of money needed to support a shift to a low-carbon future.
It also wants to providing flexible compliance mechanisms that ensure reliable reductions at the fastest pace and lowest cost.
Those attending the Lisbon meeting to agree the partnership included Portugal's President Jose Socrates, currently president of the EU Council of member state governments; EC President Jose Manuel Barroso; New Jersey Governor Jon Corzine; New York Governor Eliot Spitzer and British Columbia Premier Gordon Campbell.
UK Prime Minister Gordon Brown and Governor of California Arnold Schwarzenegger, Governor of California sent video messages.
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