Category — Climate Change

On March 19, 2009, the Inspector General for the Department of Energy (DOE), Gregory H. Friedman, testified before Congress regarding the Recovery Act oversight initiatives already underway at the DOE OIG.  The DOE is slated to receive and distribute approximately $40 billion of Recovery Act funds for various science, energy and environmental programs and initiatives.  Additionally, the DOE has been authorized to make or guarantee loans totaling up to $127 billion for innovative technologies as well as auto industry advancements.  IG Friedman described the DOE-OIG’s oversight strategy and numerous specific steps it would entail, including, (1) evaluating the internal control structure for the most significant programs; (2) evaluating the controls established by the primary recipients over the use of funds; (3) examining the use of funds through transaction testing at the recipient or end-user level; (4) providing fraud awareness briefings to DOE officials, contractor officials and fund recipients; (5) enhancing existing relationships with other law enforcement agencies; and (6) expanding its fraud hotline capabilities.  Additionally, Mr. Friedman is among the nine IGs serving on the Recovery Accountability and Transparency Board (RATB), and, thus, DOE-OIG oversight efforts, like those of the other RATB-represented IGs, will be closely coordinated with it.

See testimony here.

This post was contributed by Paul Gutermann and Roseanna Baber Hill , writing at another Akin Gump blog, ClimateIntel.com.

As the G-20 summit in London took center stage in international media this week, one contentious issue relates to the New World Economic Forum’s Task Force on Low-Carbon Economic Prosperity.   The Task Force is calling for internationally-implemented stimulus funds, estimated at US $3 trillion worldwide, to go hand-in-hand with low carbon initiatives.  Policymakers and businesses alike are watching the funding issue closely as the UN conference in Copenhagen approaches, and the race for “green” dollars from economic recovery packages gets more competitive.

The Task Force comprises 52 companies, including blue chip firms, major corporations and non-governmental organizations (NGOs). This week it released a letter addressed to UK’s Prime Minister Gordon Brown, and the other G-20 leaders, with the ultimate hope of influencing world leaders to come to a consensus in Copenhagen.  The Task Force’s letter identifies low carbon investments as the focal point of the stimulus packages.  The letter outlines six areas of concentration: market mechanisms (carbon prices), universal standards and metrics, energy efficiency, incentives for accelerated investment in low-carbon technologies, avoided deforestation and land use change and adaptation.  The letter also states the Task Force will release 10 to 20 policy initiatives or public-private collaborations by autumn 2009.

The Task Force builds upon the foundation set forth at the July 2008 G-8 Hokkaido Toyako Summit, where leaders agreed on the goal to reduce global emissions 50% by 2050, and welcomed and supported the establishment of the Climate Investment Funds administered by the World Bank to support developing countries reduce their emissions, among other decisions.  At the July G-8 summit, 100 business executives submitted “CEO Climate Policy Recommendations to G-8 Leaders,” expressing recommendations similar to those found in the task force’s letter to Prime Minister Brown this week.

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