The Clinton Global Initiative (CGI) announced today a commitment to offset greenhouse gas emissions from its 2007 Annual Meeting in New York City. To implement the commitment, which is valued at between $150,000 and $200,000, Van Ness Feldman will partner with EcoSecurities, a leading company in the business of sourcing, developing and trading emission reductions around the world. Van Ness Feldman will provide its services to implement the commitment pro bono.
Van Ness Feldman and EcoSecurities will structure a verified emission reduction purchase agreement under which individual and corporate sponsors, including Jack Hidary, founder of the Jack D. Hidary Foundation, will purchase rights to verified emission reductions from EcoSecurities' emission reduction projects and transfer those rights to CGI or retire them.
The goal of the project is not only to help reduce the "carbon footprint" of the CGI, but also to provide a model for other CGI members and for the general public on the ways to use emission reduction project investments to address climate change. Demonstrating the power of the CGI to enable collective individual action to make a difference, this commitment was further enabled by financial contributions of CGI attendees.
Both Van Ness Feldman and EcoSecurities will offer their services on a continuing basis to other CGI members that may have an interest in supplying or purchasing verified emission reductions that could be used to meet voluntary or regulatory emission reduction goals.
Van Ness Feldman professionals Janet Anderson, Kyle Danish, Shelley Fidler, Curt Moffatt, and Doug Smith led the firm's efforts with respect to this CGI commitment.