On September 23, 2008, the Western Climate Initiative ("WCI") released its design recommendations for its North American market-based cap-and-trade system for greenhouse gas ("GHG") emissions ("Design Recommendations"). This WCI initiative is an important component of a comprehensive regional effort to reduce the pollution that causes global warming to 15% below 2005 levels by 2020. The WCI partner provinces and states: British Columbia, Manitoba, Ontario, Quebec, Arizona, California, Montana, New Mexico, Oregon, Utah and Washington ("WCI Partners"), will use the Design Recommendations to further develop a cap-and-trade system with the objective of taking the steps necessary to implement the program within their respective jurisdictions.

type Climate Change Bulletin - October 2008 - Western Climate Initiative Releases Design Recommendations for its Regional Cap-and-Trade Program