Global Change Associates, Covington & Burling LLP and Environmental Markets Association present a full day class on carbon and emissions trading. .

The U.S. is entering the carbon-constrained world as impending federal carbon cap and trade legislation is under debate in the US Senate in 2010 and the US House of Represented passed climate change legislation last June. Already, the US EPA is mandating emissions reporting for the 13,000 largest emitting facilities in the US. And States on both coasts and the Midwest are implementing carbon regulation. However, there is much confusion on how these markets develop, the significance of the legislation, what the international markets look like and opportunities to participate in these nascent markets. Recognizing the need for this unique expertise, this pre-conference seminar offers a full day executive briefing on carbon and emissions market developments tailored to the US market presented by the pioneers in developing these markets. Peter Fusaro in partnership with Ruben Kraiem, Partner at Covington & Burling LLP, Eron Bloomgarden, President, Equator Environmental LLC, Thad Huetteman, Chairperson of Environmental Markets Association, and Gary Payne, Manager, Environmental Trading Group, Dominion Resources will provide practical, real world insights and experiences about carbon trading and finance.

California and other West Coast states as well as Northeastern states have now entered the carbon constrained world through government mandates. Nine Midwestern states are also moving in this direction. In less than one year, it is highly likely the US Federal Government will mandate economy wide greenhouse gas emissions reductions that will focus on reducing the US carbon footprint of over 6 billion tons. This new financial market will accelerate the rapid deployment of cleantech investment and requires understanding of how the cap and trade program will impact Fortune 1000 companies as well as create new investment opportunities.

This seminar is taught by leading experts in environmental financial markets. It is intended for busy people who in one day can learn what carbon trading and finance, the state of the markets, and what are the investment opportunities. You will learn what “Cap and Trade” is but also the state of play of carbon hedge funds and private equity funds participating in this global market called carbon. View Past Seminar Attendees

This one day executive briefing includes:

• What are Environmental Financial Markets?
• What are "Cap and Trade" programs and how did they emerge in the U.S. (i.e., SO2 and NOx programs)
• What is Carbon Trading and Finance?
• What are Congress and The Obama Administration now considering on climate change?
• How will federal programs impact both state and international carbon trading programs?
• What risks and opportunities arise for companies under trading programs?
• What lessons can be drawn from existing U.S. trading programs for carbon?
• What will the California market look like?
• What will impact the Northeast's Regional Greenhouse Gas Initiatives?
• What is the EU Emissions Trading Scheme?
• What alternative instruments are available in pre-compliance to lay-off risk?
  • Examples:
    • International offsets; What is the Clean Development Mechanism under the Kyoto Protocol
    • Voluntary programs; What is the role of the Chicago Climate Exhange
    • Derivatives (Either exchange traded or over the counter)
• What technology solutions are available? Other physical compliance options?
• How does the cost of compliance influence carbon prices?
• Hedging positions using Exchange Traded Options

Schedule:

8:00 AM - Registration and Continental Breakfast

8:30 AM - Introduction to Carbon Markets by Peter Fusaro

10:15 AM - Break

10:45 AM - International Carbon Market Developments by Ruben Kraiem

11:45 AM - Forestry & Other Carbon Offsets by Eron Bloomgarden

12:15 PM - Lunch

1:30 PM - Advances in Emissions Markets by Thaddeus Huetteman & Gary Payne

3:00 PM - Break

3:30 PM - Emissions Trading 101 by Thaddeus Huetteman & Gary Payne

5:00 PM - Seminar Ends

Your Instructors:

Peter C. Fusaro is Chairman of Global Change Associates in New York and is the best selling author of What Went Wrong at Enron. He has been actively engaged on energy and environmental issues for 34 years and has taught his popular “Introduction to Carbon Trading and Finance” course to over 900 people. Peter is an energy industry thought leader noted for his keen insights in emerging energy and environmental financial markets. He has been on the forefront of energy and environmental change for over 30 years focusing on. oil, gas, power, coal, emissions, carbon trading and renewable energy markets. Peter is currently advising in the clean energy technology arena. Peter has been selected for Who’s Who in America and Who’sWho World. Peter coined the term “Green Trading” and “Green Finance,” and holds the annual Wall Street Green Trading Summit in New York each spring (www.wsgts.com).  In 2004, he co-founded the Energy Hedge Fund Center LLC (www.energyhedgefunds.com). He has authored 15 books on energy and environmental trading. His three most recent books have been Cut Carbon, Grow Profits; Energy & Emissions: Collision or Convergence; Energy & Environmental Hedge Funds: The New Investment Paradigm. Peter graduated with an MA in International Relations from Tufts University and a BA from Carnegie Mellon University.

Ruben Kraiem is a Partner of Covington & Burling LLP where he co-chairs the firm’s, Clean Energy & Climate industry group. His practice includes the representation of clean technology investors and investee companies, as well as transactional work on behalf of project developers and financial institutions in the carbon markets. He is involved also in legislative and policy work related to energy and climate change, with particular emphasis on the design and crediting of emission reduction initiatives in developing countries. Mr. Kraiem is an advisor to the Coalition for Rainforest Nations, and in this capacity he attended the Bali Conference on Climate Change (COP-13) in December, 2007. Mr. Kraiem has over 25 years experience as a transactional lawyer, focusing principally on projects in Latin America, Asia and elsewhere in the developing world. He advises clients in the financial services, technology, communications and natural resources industries in respect of transactional and other activities, ranging from private equity projects to strategic acquisitions and corporate finance. Mr. Kraiem was elected to the Board of Trustees of the Natural Resources Defense Council (NRDC) in 1994. Mr. Kraiem is a graduate of Yale College and the Harvard Law School.

Eron Bloomgarden is President Equator Environmental LLC and has been a pioneer in the development of carbon markets. Eron has extensive experience in the areas of carbon finance and emissions reduction project development. Eron serves as Equator's President of Environmental Markets with responsibility for carbon and environmental assets throughout the organization. Prior to joining Equator, Eron was US Country Director for EcoSecurities, where he spearheaded the firm's entry in to the North American carbon market and managed all aspects of the firm's United States operations including origination, strategic planning, project development, and policy. Eron has advised governments, multilateral institutions, and international corporations on many aspects of the emerging market and worked on several carbon market "firsts" including the first Clean Development Mechanism (CDM) project in the world to receive carbon credits and the first unilateral CDM project. Eron currently serves on the Board of Directors of the Environmental Markets Association (EMA), is a Founding Member of the Coalition for Emissions Reduction Projects (CERP) and previously served as a Liaison Delegate to the World Business Council for Sustainable Development (WBCSD). He holds an M.A. from Columbia University's School of International and Public Affairs (SIPA), and a B.A. from Pomona College.

Thaddeus J. Huetteman President Power & Energy Analytic Resources, (PEAR) Inc. Mr. Huetteman is President of Power & Energy Analytic Resources, (PEAR) Inc., a Georgia corporation providing expert advisory services and technical support to companies seeking to manage environmental risks in deregulated electricity markets. His company publishes Allowance Market Outlooks covering the trading of SO2, NOx, and mercury in the U.S., as well as CO2 across regional and global markets. Mr. Huetteman has extensive experience in the area of emissions credit trading, ranging from modeling allowance market conditions to strategies for improving operational cost competitiveness and was involved in efforts to formulate EPA's model NOx trading rule for implementation of the Agency's rules on transport of ozone to non-attainment areas. He has also completed a number of due diligence efforts for energy asset acquisitions both in the U.S. and Europe. Prior to founding PEAR, Inc., Mr. Huetteman was Vice President in EDS's Management Consulting Services group, responsible for its strategic fuel management program and power markets practice. From 1986-1989, Mr. Huetteman was Director of DRI/McGraw-Hill's Coal Service. Prior to that, he was a Regulatory Impact Analyst with the U.S. Environmental Protection Agency in the Energy Policy Division.

Mr. Gary Payne, Manager, Environmental Trading Group, Dominion Resources Gary Payne is an Emissions Trader at Dominion Energy Clearinghouse. Headquartered in Richmond, Va., Dominion Energy Clearinghouse is the energy trading and marketing operation of Dominion (NYSE: D), one of the largest energy marketers in North America. Mr. Payne, who joined Dominion in September 2002, is responsible for managing Dominion's portfolio of emission commodities, and serves as company consultant on issues surrounding emissions trading. Prior to joining Dominion, Mr. Payne held positions in emissions and energy trading at Aquila Energy, Kansas City, Missouri, and Koch Energy Trading, Houston Texas. Mr. Payne also worked in energy marketing for Illinova Power marketing in Salt lake City, Utah. Mr. Payne holds a Bachelors Degree in Sociology from Brigham Young University, and a Master of Business Administration from the University of Utah, Salt Lake City.

Who Should Attend this Seminar?

This seminar will benefit a wide variety of organizations in the electric power, financial and energy industries. Professionals from banks, energy producers, electric utilities, energy marketers, industrial companies, electric generators, and municipals will gain valuable insights, as will natural gas, oil and electric power executives, traders, marketers, (sales, purchasing & risk management professionals), accountants, economists, trading support staff, auditors, attorneys, government regulators, rate specialists, plant operators, engineers and corporate planners.

Prerequisites

This fundamental level group live seminar has no prerequisites. No advance preparation is required before the seminar.

Why Choose PGS?

PGS seminars are known for their clear explanations and in-depth content. Register for a PGS program today, and team up with the leader in electric power and energy education. Join over 5,000 energy and financial professionals who have already attended one or more of PGS's proven courses. View Past Seminar Attendees

The Environmental Markets Association (EMA) is the premiere trade association for environmental industry professionals who are active or interested in the market-based solutions to combat pollution and create a sustainable environment. Since 1996, EMA has been providing education and networking programs for emissions traders, brokers, consultants, investors, large utilities, non-profit organizations, government agencies and academics in current and emerging markets including SO2, NOx, RECs, Mercury, Carbon and greenhouse gases. EMA members are the most knowledgable and experienced individuals that are making environmental markets work. Your Environment. Your Markets. Your Association. For more information, please visit www.myEMA.org.

Hotel & Seminar Information

This seminar will be held at the location listed below or can be conducted on-site at your facilities. Attendees receive a professionally produced seminar manual that can serve as a valuable office reference. Dress is casual for all seminars.

The New York Times Building
620 Eighth Avenue/ Covington & Burling Office
New York, NY 10018-1405
Telephone 1-212-841-1000
View Venue Website

Because of the diversity of hotels found in the area, PGS Energy Training will not be holding a block of sleeping rooms with one particular hotel. Should you need a list of local hotels in the area, please contact us at 412-521-4737 and we can help you with your accommodations.

Registration Fee & Discounts

Register Now and invest in your future.The price for this comprehensive seminar is $995 (USD). A 10% discount will be applied for those attending the Wall Street Green Trading Summit go to www.wsgts.com for that discount.

• Additional attendees and government employees receive a 10% discount.
   
• Sign up for 4 or more classroom seats during the same month and all attendees will receive a 20% total discount. ( If you plan to register 4 or more classroom seats, but want attendees to pay by separate credit cards, register one party now and mention this fact in the "Comments" section of the registration form. We will manually subtract the 20% discount from the first registrant's seminar fee. Tell other parties in your group to mention your name when they register, and we will give them the 20% discount as well.) Please call 412-521-4737 for more information.
  

Payment & Cancellations

Payment is due prior to the start of the seminar by Visa, Master Card, American Express, Diners Club, or corporate check. Seminar fees will be charged to your credit card at the time of registration unless other arrangements have been made. Please make checks payable to "PGS Energy Training" 43 Fawnvue Drive, Suite 700 • Mckees Rocks, PA 15136. Cancellations can be made up to three (3) business days prior to the start of the seminar for a full refund. No refunds will be made thereafter, but credit will be given toward future workshops. Substitutions may be made at any time. For more information on PGS policies regarding administrative matters and complaint resolution, please contact our offices at 412-521-4737.

CPE Credits

This group live seminar is eligible for 7.0 CPE credits. Be aware that state boards of accountancy have final authority on the acceptance of individual courses for CPE credit. As of January 1, 2002, sponsored learning activities are measured by program length, with one 50-minute period equal to one CPE credit. One-half CPE credit increments (equal to 25 minutes) are permitted after the first credit has been earned in a given learning activity. You may want to verify that the state board from which your participants will be receiving credit accept one-half credits.

PGS  Energy Training is registered with the National Association of State Boards of Accountancy (NASBA)  as a sponsor of continuing professional education  on the National Registry of CPE Sponsors. State boards of accountancy have final authority on  the acceptance of individual courses for CPE  credit. Complaints regarding registered sponsors  may be addressed to the National Registry of  CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org. CPAs interested in attending any seminars  should contact our offices for details on CPE credits granted and any prerequisite requirements.