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FOR IMMEDIATE RELEASE

Ceres and BICEP Support Waxman/Markey Bill Passed by Committee

Seek to Strengthen It Further

May 22, 2009 – Ceres and BICEP - representing some of America’s largest businesses and institutional investors - applaud Chairmen Waxman and Markey for completing markup of this historic energy and climate legislation. This is the first time major legislation of this sort has passed the House Energy & Commerce Committee.
BOSTON May 22, 2009

BICEP (Business for Innovative Climate and Energy Policy) and Ceres, a coalition of investors and other public interest organizations working to address sustainability challenges, today released the following joint statement:

Ceres and BICEP - representing some of America’s largest businesses and institutional investors - applaud Chairmen Waxman and Markey for completing markup of this historic energy and climate legislation.  This is the first time major legislation of this sort has passed the House Energy & Commerce Committee. It’s a huge step forward.  It contains several key elements included in BICEP’s core principles, including the first national limit on greenhouse gas emissions, targets for renewable energy and efficiency and a cap-and-trade program. And, especially noteworthy, the bill has bipartisan political support from many regions of the country plus a wide array of companies, labor organizations and faith-based groups.

So we support the bill, though it has areas that should be strengthened. Improving the energy efficiency and renewable energy provisions would help catalyze new innovation and large-scale deployment of cost-effective existing technologies. It is also important that we focus on developing collaborative research and development programs. The auction of carbon emission permits, as a way to finance programs to cut energy use and reduce consumer costs, could also be strengthened.

But let's be clear: This legislation is good for America's economy, health and competitive future, as well as our country's ability to lead globally on climate change. President Obama is moving on other fronts, as he did with the auto industry this week. Let's combine a Waxman/Markey bill that's as strong as we can make it with the President's initiatives, so that we can go to Copenhagen in December  showing the world that America is committed to action on climate and energy policy and to leading the transition to a clean energy economy.

About BICEP
BICEP members include Levi Strauss & Co., Nike, Starbucks, Sun Microsystems, The Timberland Co., eBay, Gap Inc., Symantec, Clif Bar & Company, Seventh Generation, Aspen Skiing Company and Jones Lang LaSalle. BICEP is coordinated by Ceres, a leading coalition of investors, environmental and public interest organizations working with companies to address sustainability challenges such as climate change. (www.ceres.org/bicep)

About Ceres
Ceres, which helped organize BICEP, is  a leading coalition of investors, environmental groups and other public interest organizations working with companies to address sustainability challenges such as global climate change.

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