Voluntary Carbon Convening
Commodity Futures Trading Commission Chairman Rostin Behnam today announced the first-ever Voluntary Carbon Convening on June 2. The purpose of the meeting is to discuss issues related to the supply and demand for high quality carbon offsets, including product standardization and the data necessary to support the integrity of carbon offsets’ greenhouse gas emissions avoidance and reduction claims. Panelists will also discuss issues related to the market structure for trading carbon offsets and carbon derivatives as well as perspectives on the challenges and opportunities in these markets.
“As companies increasingly turn to the derivatives markets to manage risk and keep pace with global efforts to decarbonize, I look forward to the CFTC’s facilitating these discussions,” said Chairman Behnam in prepared remarks to the ISDA Annual General Meeting. “Our goal is to foster innovation in crafting solutions to the climate crisis while ensuring integrity and customer protection.”
The further goal of the convening is to gather information from a wide variety of market participants in the voluntary carbon markets to better understand the potential role of the official sector in these markets, particularly as we see the emergence of CFTC regulated derivatives referencing cash offset markets. The convening will include participants from carbon offset standard setting bodies, a carbon registry, private sector integrity initiatives, spot platforms, designated contract markets, intermediaries, end-users, public interest groups, and others.
The convening will be held in the Conference Center at CFTC’s headquarters at Three Lafayette Centre, 1155 21st Street NW, Washington, D.C. beginning at 9.00 a.m. for participants only. Participants will also have an option to participate virtually. In accordance with the agency’s implementation of COVID-19 related precautions, the general public will have access to the convening by webcast on the CFTC’s website or may also listen by telephone.
To access the live meeting feed, use the dial-in numbers below or stream at www.cftc.gov. A live feed can also be streamed through the CFTC’s YouTube channel. Call-in participants should be prepared to provide their first name, last name, and affiliation, if applicable. Materials presented at the meeting, if any, will be made available online.
Domestic Toll-Free:
1-669-254 5252 or 1-646-828-7666 or
1-669-216-1590 or 1-551-285-1373
International Access:
https://cftc-gov.zoomgov.com/u/amybg62Jw
Webinar ID:
Passcode:
161 174 6177
144701
9:00am ET
Welcome and Opening Remarks- Chairman Rostin Behnam
- Commissioner Kristin N. Johnson
- Commissioner Christy Goldsmith Romero
- Commissioner Summer K. Mersinger
- Commissioner Caroline D. Pham
9:15am ET
Keynote Speakers- U.S. Senator Debbie Stabenow (D-MI), Chairwoman of the Senate Committee on Agriculture, Nutrition, and Forestry
- U.S. Congressman David Scott (D-GA-13), Chairman of the House Agriculture Committee
09:30am ET
Panel 1: Carbon Offset Standards and Quality Initiatives:
The discussion will include an introduction to the carbon offsets markets; carbon offsets standards; and a private sector supply-side initiative.
Moderator: Kelley Kizzier, Fellow, Bezos Earth Fund
- Stephen Donofrio, Director, Ecosystem Marketplace of Forest Trends
- David Antonioli, Chief Executive Officer, Verra
- Mary Grady, Executive Director, American Carbon Registry
- Kristen Gorguinpour, Vice President of Programs, Climate Action Reserve
- Sonja Gibbs, Managing Director and Head of Sustainable Finance, IIF; Board Member, Integrity Council for the Voluntary Carbon Market
- Thomas Hale, Ph.D., Associate Professor in Public Policy (Global Public Policy), Blavatnik School of Government, University of Oxford
10:45am ET
Panel 2: State and Federal Regulatory Updates
The discussion will highlight the role of carbon offsets accepted in a domestic compliance market; provide an overview of recent regulatory initiatives which may directly or indirectly impact the markets for carbon offsets; and perspectives on the role of carbon offsets within a whole-of- government approach to mitigating climate change.
Moderator: Nathanial Keohane, President, Center for Climate and Energy Solutions
- Jason Gray, Project Director of the Governors’ Climate and Forests Task Force, Emmett Institute on Climate Change and the Environment at UCLA School of Law (V)
- John E. Morton, Climate Counselor to the Secretary, U.S. Department of the Treasury
- Sean Babington, Senior Advisor for Climate, Office of the Secretary, U.S. Department of Agriculture
- Carol A. (Annie) Petsonk, Assistant Secretary for Aviation and International Affairs, U.S. Department of Transportation
- Philip B. Duffy, Ph.D., Climate Science Advisor, Office of Science and Technology Policy, The White House (V)
- Christine Dragisic, Branch Chief, Partnerships and Initiatives, Office of Global Change, Bureau of Oceans and International Environmental and Scientific Affairs, U.S. Department of State (V)
11:45am ET
Lunch Break
12:45pm ET
Panel 3: Carbon Offsets Trading and Infrastructure
The discussion will provide an overview of carbon offset spot markets; exchange-listed derivatives; registry infrastructure; and OTC intermediation.
Moderator: Eric Pitt, Consultant, Climate Finance, Ceres Accelerator for Sustainable Capital Markets
- Kathy Benini, Managing Director, Sustainable1, S&P Global
- John Melby, President and Chief Operating Officer, Xpansiv
- Dan Scarbrough, Co-founder, President & Chief Operating Officer, IncubEx, Inc.
- John Frederick, Chief Financial Officer, Indigo Agriculture
- Evan Ard, Chief Executive Officer, Evolution Markets
- Mike Kierstead, Head of Environmental Products, Intercontinental Exchange Pete Keavey, Managing Director of Energy and Environmental products, CME
2:00pm ET
Panel 4: Market Participants
Recommendations for the CFTC – Part 1 The panel will discuss perspectives on carbon offset projects from industry and the public interest. The panel will discuss the challenges and opportunities of trading carbon offsets and/or carbon offset derivatives; documentation issues; and recommendations for the role of the CFTC in these markets.
Moderator: Janet Peace, Chief of Advisory Services, BlueSource
Part I:
- Mark Kenber, Co-Executive Director, External Affairs, Voluntary Carbon Markets Integrity Initiative and Managing Director, Climate Advisers
- Bella Rozenberg, Senior Counsel/Head of Regulatory and Legal Practice Group, International Swaps and Derivatives Association
- Linda French, Global Head of ESG Policy & Regulation, Sustainability and Global Government Relations, JPMorgan Chase & Co.
- Aoife Kearney, Assistant General Counsel, Neuberger Berman
- Darcy Bradbury, Managing Director, head of Global Public Policy, the D. E. Shaw group
- Alexia Kelly, Director, Net Zero + Nature, Netflix
3:00pm ET
Panel 4: Market Participants
Recommendations for the CFTC – Part 2
The panel will discuss perspectives on carbon offset projects from industry and the public interest. The panel will discuss the challenges and opportunities of trading carbon offsets and/or carbon offset derivatives; documentation issues; and recommendations for the role of the CFTC in these markets.
Moderator: Janet Peace, Chief of Advisory Services, BlueSource
Part II:
- Chuck Conner, President & CEO, National Council of Farm Cooperatives
- Shelby Swain Myers, Economist, American Farm Bureau Federation
- Tyson Slocum, Director, Energy Program, Public Citizen
- Jeff Swartz, Vice President Low Carbon Strategy, Regulatory Affairs and Partnerships, BP
- Michael LeMonds, Vice President, Environment, Land and Government Affairs, Holcim US
4:00pm ET
Closing Remarks
Chairman Rostin Behnam
4:15pm ET
Adjournment
Defense Environmental Restoration
The FY 2023 Defense budget includes $1.1 billion in requested funds for environmental restoration.
Reauthorization and Reform of the National Flood Insurance Program
- Carolyn Kousky, Executive Director, Wharton Risk Center
- Karen McHugh, Missouri State NFIP Coordinator
- Ariel Rivera-Miranda, Founder and Agency Principal, Deer Insurance
- Roy Wright, President & CEO, Insurance Institute for Business and Home Safety
- H.R. , the “The National Flood Insurance Program Reauthorization Act of 2022.” (Rep. Waters)
- H.R. 7842, the “The Protecting Families and the Solvency of the National Flood Insurance Program Act of 2022.” (Rep. Casten)
- H.R. , the “The National Flood Insurance Program Administrative Reform Act of 2022.” (Rep. Velázquez)
- H.R. , a bill to cancel the indebtedness of the National Flood Insurance Program, and for other purposes. (Rep. Waters)
- H.R. , a bill to limit the annual increases in premiums and surcharges under the National Flood Insurance Program, and for other purposes.
The last long-term reauthorization of the NFIP occurred when Congress passed the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12), which was subsequently amended by the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA). Since the end of fiscal year (FY) 2017, the NFIP has had 19 short-term reauthorizations and has even experienced brief lapses. According to the National Association of Realtors, an estimated 40,000 home sales are lost or interrupted every month that the NFIP’s authority lapses. The NFIP’s authorization is currently set to expire on September 30, 2022. In the event of a lapse, the NFIP will be unable to enter into new flood insurance contracts, which will lead to widespread market instability due to the stalling of mortgage processing for homes that are statutorily required to have flood insurance.
On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act, which included $3.5 billion for flood mitigation and $500 million in grants to states for revolving loans for hazard mitigation through a new program called the Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Act. On November 19, 2021, the House passed the Build Back Better Act, which includes provisions to forgive the NFIP’s $20.5 billion in debt and invests $600 million in setting up an affordability program for low-income policyholders, as well as $600 million toward updating flood maps. According to FEMA, the NFIP saves the nation an estimated $1.87 billion annually in flood losses avoided because of the NFIP’s building and floodplain management regulations.
Until 2021, FEMA had not updated its methodology for setting NFIP premium rates since the 1970s, when it adopted a risk rating method that accounts only for the 1% annual chance of fluvial and coastal flooding. In coordination with the US Army Corps of Engineers, US Geological Survey, and other experts, FEMA has now developed a new risk rating methodology, known as Risk Rating 2.0 (RR2). RR2 went into effect for new policyholders on October 1, 2021, and for new policyholders on April 1, 2022. RR2 is designed to more accurately “reflect an individual property’s risk, reflect more types of flood risk in rates, use the latest actuarial practices to set risk-based rates, provide rates that are easier to understand for agents and policyholders, and reduce complexity for agents to generate a flood insurance quote.”
The Future of Transportation
Please join the Center for American Progress for a virtual event on the future of mobility. Michigan Gov. Gretchen Whitmer (D) will join CAP President and CEO Patrick Gaspard for a conversation about Michigan’s progress in developing pro-business, pro-worker, and pro-climate mobility initiatives. White House National Climate Adviser Gina McCarthy will deliver remarks on President Joe Biden’s plan to reduce emissions, and a panel of experts and advocates will discuss the opportunities and challenges that lie ahead in decarbonizing transportation.
Mobility bridges the gap between economic opportunity and the environment. It creates well-paying jobs, lowers costs for families, and tackles climate change. In just three years, Michigan has created more than 21,600 well-paying auto jobs, and auto companies and suppliers have invested millions of dollars into the state as part of an industrywide pivot to vehicle electrification.
Gov. Whitmer has made unique progress in supporting mobility initiatives, through public-private partnerships with automakers to support domestic manufacturing, a bipartisan build-out of an electric vehicle charging network across the Midwest, collaborative efforts to decarbonize the economy through the Michigan Healthy Climate Plan, and partnerships with legislators from across the aisle to advance Michigan’s mobility leadership.
For more information about how state governments can leverage federal investments, as well as the opportunities and challenges of implementing the bipartisan infrastructure law, check out CAP’s recent report “How States Can Use the Bipartisan Infrastructure Law To Enhance Their Climate Action Efforts.”
Keynote remarks:- Gina McCarthy, White House National Climate Adviser
- Gov. Gretchen Whitmer (D-MI)
- Patrick Gaspard, President and CEO, Center for American Progress
- Cindy Estrada, Vice President, United Auto Workers
- Carolina Martinez, Climate Justice Director, Environmental Health Coalition
- Terry Travis, Managing Partner, EVNoire
- Sam Ricketts, Senior Fellow for Energy and Environment, Center for American Progress
You must RSVP to watch the event.
If you have questions for our panel, please submit them on Zoom during the event or via email to [email protected].
For more information, please contact Sam Hananel at [email protected].
Nomination of Biniam Gebre to be Administrator, Office of Federal Procurement Policy, Office of Management and Budget
Biniam Gebre has been managing director at Accenture Federal Services since August 2017. Mr. Gebre heads the management consulting group, which provides advisory services to government clients. He was a partner at Oliver Wyman serving customers in the company’s financial services and public-sector practices.
Before that, he was Acting Assistant Secretary and Commissioner of the Federal Housing Administration, where he led the management of the agency. Earlier in his career, he was a partner with McKinsey & Co., which he joined in 2000. He holds a bachelor’s degree in chemistry from Williams College and a master’s degree in finance and economics from Northwestern University.
The Office of Federal Procurement Policy (OFPP) in the Office of Management and Budget plays a central role in shaping the policies and practices federal agencies use to acquire the goods and services they need to carry out their responsibilities. OFPP was established by Congress in 1974 to provide overall direction for government-wide procurement policies, regulations and procedures and to promote economy, efficiency, and effectiveness in acquisition processes. OFPP is headed by an Administrator who is appointed by the President and confirmed by the Senate.
May Commission Open Meeting
Commission meeting held in Room 2C, 888 First Street, NE, Washington, DC 20426. Open to the public via video Webcast only.
Link to meeting webcast when live
| Meeting agenda | ||
|---|---|---|
| ADMINISTRATIVE | ||
| A-1 | AD22-1-000 | Agency Administrative Matters |
| A-2 | AD22-2-000 | Customer Matters, Reliability, Security and Market Operations |
| A-3 | AD06-3-000 | Market Update |
| ELECTRIC | ||
| E-1 | RM20-16-001 | Managing Transmission Line Ratings |
| E-2 | OMITTED | |
| E-3 | ER21-62-000 | Uniper Global Commodities North America LLC |
| E-4 | ER21-65-000 | Tri-State Generation and Transmission Association, Inc. |
| E-5 | ER21-59-000 | Brookfield Renewable Trading and Marketing LP |
| ER21-59-001 | ||
| E-6 | ER21-64-000 | Macquarie Energy LLC |
| E-7 | ER22-1246-000 | California Independent System Operator Corporation |
| E-8 | QF21-222-002 | Board of Trustees of Michigan State University |
| E-9 | ER22-476-001 | Alabama Power Company |
| E-10 | EL22-44-000 | Grand River Dam Authority |
| E-11 | EL22-45-000 | Lincoln Electric System |
| E-12 | EL22-46-000 | Nebraska Public Power District |
| E-13 | EL22-47-000 | Omaha Public Power District |
| E-14 | OMITTED | |
| E-15 | EC22-24-000 | GridLiance High Plains LLC |
| E-16 | RR21-10-000 | North American Electric Reliability Corporation |
| MISCELLANEOUS | ||
| M-1 | RM22-15-000 | Certification of Uncontested Settlements by Settlement Judges |
| GAS | ||
| G-1 | RM21-18-000 | Revised Filing and Reporting Requirements for Interstate Natural Gas Company Rate Schedules and Tariffs |
| G-2 | OR19-14-000MPLX | Ozark Pipe Line LLC |
| G-3 | RP21-1001-006 | Texas Eastern Transmission, LP |
| HYDRO | ||
| H-1 | P-15246-000 | PacifiCorp |
| H-2 | P-15239-000 | PacifiCorp |
| H-3 | P-2188-259 | NorthWestern Corporation |
| Certificates | ||
| C-1 | CP21-197-000 | Kern River Gas Transmission Company |
| C-2 | CP21-78-000 | ANR Pipeline Company |
| C-3 | IN19-4-001 | Rover Pipeline, LLC and Energy Transfer Partners, L.P. |
| C-4 | CP21-6-000 | Spire Storage West LLC |
Clean Power 2022: Day Two
The most efficient and targeted event for utility-scale renewable companies. CLEANPOWER puts you at the table and helps you get results that can grow your business and our industry, and prepare for more opportunities in the future. This expanded and targeted business development event will help your company reach new heights.
Day One | Day Two
Agenda (all times are Central)
8:30 AM – 9:30 AM ACP Energy Storage Council Meeting
9:00 AM – 10:00 AM Networking Coffee Break
10:00 AM – 11:00 AM General Session
Speakers:- Heather Zichal – American Clean Power Association
- Secretary Jennifer Granholm – US Department of Energy
- Senator Ron Wyden (D-OR)
11:15 AM – 12:15 PM Bringing Green Hydrogen Within Reach
Moderator: Jacob Susman – Ambient Energy
Speakers:- Janice Lin – Green Hydrogen Coalition
- Megan Reusser, PE – Burns & McDonnell
- Adolfo Rivera – Avangrid Renewables
11:15 AM – 12:15 PM The Clean Energy Market Today
Moderator: John Hensley – American Clean Power Association
Speakers:- Douglas Giuffre – IHS Markit
- Tara Narayanan – BloombergNEF
- Aaron Barr – Wood Mackenzie
11:30 AM – 11:55 AM Scaling and Performance of Real-time Operations and Maintenance of Renewable Energy Plants
Speaker: AJ Singh – Hitachi Energy
2:30 PM – 2:55 PM Experiences Deploying Utility-Scale Storage Systems
Speaker: Mark Powell – Sungrow
12:30 PM – 1:30 PM ACP Trade Committee Meeting
1:30 PM – 1:55 PM Long Duration Storage- Today’s Trends and Tomorrow’s Opportunities
Speaker: David O. Stripling – ORMAT
1:30 PM – 2:30 PM Building the Clean Energy Workforce
Moderator: Adam Edelen – Edelen Ventures
Speakers:- David Hickey – Siemens Gamesa Renewable Energy
- Tim Maag – Mortenson
- Jose Antonio Miranda Soto – Avangrid
- James Murphy – President and Corporate Business Leader, Invenergy
- Susan Nickey – Hannon Armstrong
1:30 PM – 2:30 PM Financing the Clean Energy Transition
1:30 PM – 2:30 PM What Energy Storage Customers Want
Moderator: Catherine Sullivan – Fluence
Speakers:- Brent Bergland – Mortenson
- Ricky T. Elder, III – Dominion Energy
- Andrew Foukal – East Point Energy
- Troy Miller – GE Renewable Energy
2:00 PM – 2:25 PM Digital Technology Landscape in Renewable Energy Asset Management
Speaker: Feng Zhang – Utopus Insights
2:45 PM – 3:45 PM Enabling Domestic Investments in the Solar Supply Chain
Moderator: Leo Moreno – AES Clean Energy
Speakers:- Nigel Cockcroft – Jinko Solar US Inc.
- Tristan Grimbert – EDF Renewables
- Michael Wathen – Nextracker
- Becca Jones- Albertus
The U.S.-Canada Energy And Minerals Partnership
The purpose of the hearing is to examine ways to strengthen the energy and mineral partnership between the U.S. and Canada to address energy security and climate objectives.
Witnesses:- Jason Kenney, Premier, Alberta, Canada
- Nathalie Camden, Sous-ministre associée aux Mines (Associate Deputy Minister of Mines), Ministère de l’Énergie et des Ressources naturelles (Ministry of Energy & Natural Resources) Québec, Canada
- Francis Bradley, President & Chief Executive Officer, Electricity Canada
- Jonathan Wilkinson, Minister of Natural Resources
FY 2023 Budget Request for the Department of Labor
- Marty Walsh, Secretary, Department of Labor
The FY 2023 request for the Department of Labor (DOL or Department) is $14.6 billion in discretionary budget authority and 16,922 full-time equivalent employees (FTE), with additional mandatory funding and FTE.
The Budget requests a $100 million investment for DOL’s role in the new multi-agency POWER+ Initiative, which aims to assist displaced workers and transform communities transitioning away from fossil fuel production to new, sustainable industries. Furthering the Administration’s emphasis on addressing climate change by creating opportunities for workers in America, the Budget requests $20 million to pilot the Civilian Climate Corps, in partnership other Federal agencies, which will fund paid work experiences, preapprenticeship programs, and RA programs for youth in industries and jobs related to climate resilience and mitigation.
The request also provides the Employment and Training Administration (ETA) $10 million for a new program, developed in collaboration with VETS and the Department of Veterans Affairs, focused on helping veterans shift to careers in clean energy, which would help combat climate change while preparing veterans for good-paying jobs.
The request also includes an increase of nearly $44 million for the Mine Safety and Health Administration focused on restoring its capabilities in enforcement and mine plan and equipment reviews. This increased funding will help ensure miners’ health and safety amid a projected increase in workload stemming from the Bipartisan Infrastructure Law (BIL).