Skip to comments.Thank you Rush and Roy Spencer for making CCX Expose Possible [vanity vanity vanity -- OK? vanity]
Posted on 05/02/2010 11:04:10 AM PDT by Arthur Wildfire! March
Vanity alert. I repeat, vanity alert. OK then ...
I would like to thank Rush Limbaugh and Roy Spencer for paving the way for the CCX Expose.
While Glenn Beck has done a tremendous job, it was the pioneer critics [along with many FReepers] who first exposed the global warming hoax. If not for Limbaugh, Roy Spencer, and many others, CCX would be a heroic champion sparing the fragile planet from catching fire.
I doubt anyone would have bothered to leak the Climategate emails if not for outspoken critics and the Oregon Petition.
CCX, the wonderful Captain Planet of Corporations, would have been earning 100 trillion dollars in ten years, and being praised for it the entire time.
[Summary of CCX coming up.]
Thank you for the ping.
Chicago Climate Exchange
Generation Investment Management
David W. Blood
MUCH more here:
Generation Investment Management
People related to Generation Investment Management:
David W. Blood - co-founder & senior partner
L. John Doerr - advisory board member
Mark Ferguson - managing partner & CIO
Albert A. Gore Jr. - chairman
Peter Harris - managing partner & COO
Peter S. Knight - managing partner
Colin le Duc - managing partner
Miguel Nogales - managing partner
Other current Generation Investment Management relationships:
Ausra, Inc. - investor
Generation Investment Management
David W. Blood
David W. Blood lives and/or works in
David W. Blood current relationships:
Acumen Fund - advisory council member
Generation Investment Management - co-founder & senior partner
Hamilton College - trustee
David W. Blood past relationships:
2008 Barack Obama presidential campaign - London fundraiser co-chair
Goldman Sachs Asset Management - CEO
Thank you, FRiend. Bumping back.
I too would like to thank Rush.
This is the epitome of the entrepreneurial spirit.
There is nothing like trading air!!
h/t to Dr. Bogus Pachysandra for the following link :
A market for pollution? - Pact to trade greenhouse-gas credits
The Washington Times - Tuesday, June 19, 2001
Author: Carter Dougherty, THE WASHINGTON TIMES
Twenty-five companies and nonprofit groups have agreed to join a groundbreaking program that will fashion a system for trading credits in greenhouse gases, the chief culprits in global warming.
The Chicago Climate Exchange - based in the city known for trading commodities such as wheat, corn and cattle - hope the project will become a model for the nation as the Bush administration grapples with solutions to the worldwide problem.
The voluntary plan “would represent a major step forward while an appropriate regulatory framework for greenhouse gases evolves,” said Paula DiPerna, president of the Joyce Foundation, which is financing the study.
Richard Sandor, a prominent Chicago businessman and academic who will lead the program, says there is a market for the products, even though the Bush administration has signalled a go-slow approach on global warming by refusing to sign the 1997 global-warming treaty negotiated in Kyoto, Japan.
“We’re looking at this like we would any other financial product,” Mr. Sandor said. “We’re agnostic about the overall issue of global warming.”
Mr. Sandor is also chief executive officer of Environmental Financial Products, a Chicago company that has developed other financial services in the environmental arena.
Citing Senate opposition and its own skepticism about the 1997 Kyoto treaty, the Bush administration announced earlier this year that the United States would not sign the pact and reneged on a campaign promise to regulate carbon dioxide, the gas scientists say is mainly responsible for global warming.
The administration is developing other options for combatting the problem, which Mr. Bush shared with European allies last week.
Advocates of the trading system for carbon dioxide believe the plan is the most market-oriented way to fight global warming. It would be modeled largely on a system started in 1990 to reduce emissions of sulfur dioxide and nitrogen, which cause acid rain.
The system - voluntary, at least for starters - would allocate credits to companies for a given amount of greenhouse-gas emissions. Businesses that develop new environmentally friendly technologies for reducing their output of carbon dioxide could then monetize their innovations by selling their credits to other companies.
The Chicago Climate Exchange plans a 12-month feasibility study. If it can get a consensus among the 25 participating organizations, companies then would voluntarily adopt caps on greenhouse-gas emissions and begin trading.
Participating companies include Dupont, International Paper, Ford Motor Co. and PG&E National Energy Group, a Bethesda company that operates electricity generators and pipeline facilities.
Daring to go where the U.S. government hasn’t, a group of industrial giants announced Thursday they will voluntarily reduce and trade greenhouse gas emissions, which are currently unregulated but linked to global warming.
The Chicago Climate Exchange , the first attempt in the U.S. to reduce greenhouse gases with a market-based solution, will allow participants to swap the right to pollute in a four-year pilot project.
The electronic trading scheme involves a baseline pollution limit—a certain number of tons of six greenhouse gases that each company can put into the air—and allows members that cut emissions below the baseline to sell credits to firms that can’t meet the mark.
The central idea behind the system, known as a cap and trade program, is not new. It is used worldwide and was employed by the Environmental Protection Agency beginning in 1990 to control sulfur dioxide levels. What makes the Chicago Climate Exchange unusual is that participation is strictly voluntary, and there is currently no government involvement.
The big industrial corporations include DuPont, Ford Motor Co., Motorola and American Electric Power—the largest power supplier and the largest emitter of carbon dioxide in the nation. They were joined by the City of Chicago and other companies, including Waste Management Inc. and Baxter International Inc.
Many joined for the chance to experiment with cost-effective ways of reducing emissions before they are forced to do so by future laws. Some overseas markets, including Europe, are developing a cap and trade system for greenhouse gases, as permitted by the Kyoto Protocol, to thwart climate change. Britain and Denmark are already trading on a small scale.
For some companies, who might be able to cut emissions and resell their credits at a higher price, the incentive is profit. Others said they want to show their shareholders, customers and investors that they are concerned about environmental issues.
“There’s a growing passion that markets lend themselves to solving social and environmental problems,” said Chicago Climate Exchange CEO Richard Sandor, a former economist with the Chicago Board of Trade, called by some the “father of financial futures.” “We all believe energy efficiency is good business. We’re trying to build and inform the debate to give companies a vehicle to test cut and trade.”
In a Senate hearing last week, Republican John McCain and Democrat Joe Lieberman called for a cap and trade system through a government-provided Greenhouse Gas Database, which would contain an inventory of emissions and a registry of reductions.
Exchange in pollution - credits formed
Chicago Sun-Times - Friday, January 17, 2003
Working to align market forces with social good, 13 major corporations and the city of Chicago agreed Thursday to support a new financial exchange dedicated to creating a market in pollution credits.
The Chicago Climate Exchange is a merger of environmentalism and free-market thinking. It would organize itself like the brazenly capitalist Chicago Board of Trade or the Chicago Mercantile Exchange, but with a long-term aim of helping companies curb emissions of greenhouse gases in a cost-effective way.
Companies that beat emissions standards could sell credits, recouping some costs to come into compliance with various governmental emission standards. Companies not meeting the standards must buy the credits, giving them an incentive to improve. Supply and demand would set the price.
The idea has been criticized as a way to give polluters a pass. But Richard Sandor, the exchange’s chairman and chief apostle, said it serves the planet by giving companies an incentive to reduce noxious emissions.
Sandor said his work on the concept over a dozen years stems from a “passion that markets can lend themselves to solving social and environmental problems.” It would expand a government-approved market for credits in sulphur dioxide emissions that Sandor said has become a $5 billion annual market and slashed emission levels. Sulphur dioxide is a culprit in acid rain.
The 14 original participants have agreed to a binding standard of reducing their greenhouse gas emissions 4 percent by 2006, 1 percent a year. Credits in six greenhouse gases will be traded, with most of the interest expected to be in carbon dioxide trading.
Also, data from the marketplace will help government officials determine what are reasonable standards for pollution levels, Zimmerman said.
The exchange is due to open in late spring. Trading will take place on a computer network and there will be no trading floor.
One reason it’s in Chicago is because the city is the home of no-nonsense markets in financial and agricultural futures and options, so there’s a base of people familiar with the concept of trading credits. Sandor said speculators will have access to the market and that the exchange will announce its software specifications shortly.
The city of Chicago signed on for more than moral support. City government itself will buy and sell the credits, a step that Mayor Daley’s top environmental officer said is justified because of its role as a waste generator and leading power consumer.
N. Marcia Jimenez, commissioner of the Department of Environment, said the exchange “has the potential to revolutionize how business is done” by making companies more aware of environmental responsibilities. She said the city draws 10 percent of its own energy from renewable resources and wants to double that share by 2006.
The voluntary nature of the exchange also was appealing, she said. “We have found voluntary commitment to do the right thing is what will last,” Jimenez said.
Trading will cover pollution credits that are valid in the United States, Canada and Mexico. Sandor said a limited trading link will be established with Brazil to provide a broader test of an international market.
Trading in pollution
Founding members of the Chicago Climate Exchange , a marketplace that tries to generate financial incentives for curbing greenhouse gas emissions:
American Electric Power
Baxter International Inc.
City of Chicago
Equity Office Properties Trust
Ford Motor Co.
Waste Management Inc.
Ping to thread.
Why Blood and Gore love cap-and-trade
Star-Ledger, The (Newark, NJ) - Sunday, July 5, 2009
Author: PAUL MULSHINE, STAR-LEDGER STAFF
If my e-mail is any indication, every conservative in New Jersey is angry with the three Republican congressmen from our state whose votes last week helped provide the winning margin for that cap-and-trade bill.
With good reason. It’s an awful bill. And I’ll give you two reasons: Blood and Gore.
No, I’m not talking about a horror movie, but there is a link to the cinema. Around the time Al Gore was putting together that movie about the horrors of global warming titled “An Inconvenient Truth,” he was also putting together a firm with a former Goldman - Sachs executive named David Blood . The firm, Generation Investment Management, recently bought a share of a company called Camco International Ltd., which trades in carbon credits.
Al Gore-backed investment firm buys 9.5 pct Camco Intl stake (carbon credits)
AFX ^ | June 4, 2008
Posted on Wednesday, June 04, 2008 7:51:32 PM by Shermy
LONDON (Thomson Financial) - Generation Investment Management, the private equity fund chaired by former U.S. vice president Al Gore, has acquired a 9.5 percent stake in Camco International Ltd, a carbon asset developer.
Generation, set up in 2004 by Gore and David Blood, former chief of Goldman Sachs’s asset management arm, now holds 16 million Camco shares, Camco said in a statement.
Camco, which has one of the world’s largest carbon credit portfolios, works with companies to identify and develop projects that reduce greenhouse gas emissions and then arranges the sale and delivery of carbon credits.
TOPICS: Business/Economy; Crime/Corruption; Extended News; News/Current Events; Click to Add Topic
KEYWORDS: algore; camco; ecoprofiteers; environment; enviroprofiteers; envirowhackos; goreenron; Click to Add Keyword
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Solutions to climate change
Camco is a leading carbon asset developer with one of the worlds largest carbon credit portfolios. We generate carbon credits by partnering with companies to identify, develop and manage projects that reduce greenhouse gas emissions. Camco then arranges the sale and delivery of carbon credits to international compliance buyers and into the voluntary market.
Camco is a market leader in China and Russia [!!!] - two of the largest potential markets for carbon credits - as well as in Eastern Europe and Africa. We are also developing projects and managing carbon emissions in North America, a significant market not currently covered by the Kyoto Protocol flexible mechanisms.
Our innovation, breadth of experience and diversity of expertise have resulted in a number of milestone projects and industry awards. Camco was voted Best Project Developer in a 2007 survey of carbon industry participants undertaken by Point Carbon. The Yangquan Coal Mine Methane (CMM) project, the worlds largest CMM project, was voted Carbon Transaction of the Year by Environmental Finance magazine.
How we deliver carbon credits
Origination Camco identifies and co-develops industrial projects that have the potential to reduce emissions. We are able to assist in raising finance, both through carbon asset financing, and innovative debt / equity structures.
Qualification Once financing is secured, Camco manages the project through the regulatory process. Camco has the expertise to develop new methodologies if required, and has successfully verified both compliance and voluntary market projects.
Structuring Camco is highly experienced in working with the project owner to advise on and develop the best possible structure for the deal. We have helped to structure some of the largest CDM projects developed to date.
Placement It is important to secure the best possible prices for our clients. We are uniquely positioned in the international carbon market to work on behalf of project owners, and have offices close to buyers in London, Europe and North America, and with strong links into Japan.
Asset management It is essential that projects achieve successful verifications and carbon credit issuance. Our experienced in-house technical team work closely with clients to ensure assets are delivered in a timely manner.
Camco May Accelerate Carbon-Credit Production in 2010, CEO Says
March 25, 2010,
By Ben Sills
March 25 (Bloomberg) — Camco International Ltd., the U.K. investor whose biggest shareholder is headed by Al Gore, expects its carbon-offset projects to generate at least 18 percent more credits this year.
That was Camcos growth rate in 2009, when it earned United Nations-certified credits for 3.3 million metric tons of avoided carbon emissions, compared with 2.8 million tons in 2008.
Wed expect a similar increase, if not higher for this year, Chief Executive Officer Scott McGregor said yesterday in a telephone interview.
The UN panel that grants the securities, called Certified Emission Reduction credits, is aiming to assess projects more quickly after issuance fell for the first time last year and prompted complaints from investors.
Shafqat Kakakhel, a member of the executive board of the UNs Clean Development Mechanism, this month forecast credit issuance will rise by about a fifth to about 150 million tons.
Camco has 50 projects waiting for approval from the UN with the potential to generate credits that represent as much as 30 million tons of avoided emissions through 2012, UN data on Bloomberg show.
Gore, the climate campaigner and former U.S. vice president, is chairman of Generation Investment Management LLP, Camcos biggest shareholder with a 20 percent stake, according to Camcos Web site.
Spotlight on Gore ‘s Dual Role As an Advocate and Investor
New York Times, The (NY) - Tuesday, November 3, 2009
Author: JOHN M. BRODER
Abstract: Al Gore finds himself in position of having to defend decision to invest, through his venture capital firm Kleiner Perkins Caufield & Byers, in Silver Spring Networks, which produces hardware and software to make electricity grid more efficient; Gore and his partners invested $75 million in Silver Spring, which wanted to expand its partnerships with utilities seeking to install millions of smart meters in home and businesses; deal appears to have paid off now that Energy Dept has announced $3.4 billion in smart grid grants, with $560 million going to Silver Spring; Gore and his partners could reap great returns from investment and he is defending that investment against critics who say he stood to benefit personally from energy and climate policies he urged Congress to adopt; Gore contends his investmenet activities are consistent with his public advocacy; photo (M)
He is a founder of Generation Investment Management, based in London and run by David Blood, a former head of Goldman Sachs Asset Management (the firm was quickly dubbed Blood and Gore ). Mr. Gore earns a partner’s salary at Kleiner Perkins. He has substantial personal finances invested at both firms, officials of the companies said.
He also serves as an adviser to high-profile technology companies including Apple and Google, relationships that have paid him handsome dividends over the last eight years.
Mr. Gore ‘s spokeswoman would not give a figure for his current net worth, but the scale of his wealth is evident in a single investment of $35 million in Capricorn Investment Group, a private equity fund started by his friend Jeffrey Skoll, the first president of eBay.
Ion Yadigaroglu, a co-founder of Capricorn, said that Mr. Gore does not sit on the fund’s investment committee, but obviously agrees with the partners’ strategy of putting long-term money into promising ventures in energy, technology and health care around the globe.
“Aspirationally,” said Mr. Yadigaroglu, who holds a doctorate from Stanford in astrophysics, “we’re trying to make more money than others doing the same thing and do it in a way that is superior in ethics and impacts.”
Mr. Gore has said he invested in partnerships and funds that try to identify and support companies that are advancing cutting-edge green technologies and are paving the way toward a low-carbon economy.
He has a stake in the world’s pre-eminent carbon credit trading market and in an array of companies in bio-fuels, sustainable fish farming, electric vehicles and solar power.
Capricorn holds a major stake in Falcon Waterfree Technologies, the world’s leading maker of waterless urinals. Generation has holdings in Ausra, a solar energy company based in California, and Camco , a British firm that develops carbon dioxide emissions reduction projects. Kleiner Perkins has a green ventures fund with nearly $1 billion invested in renewable energy and efficiency concerns.
Mr. Gore also has substantial interests in technology, media and biotechnology ventures that have no direct tie to his environmental advocacy, an aide said.
Al Gore could become worlds first carbon billionaire
Last year Mr Gores venture capital firm loaned a small California firm $75m to develop energy-saving technology.
The company, Silver Spring Networks, produces hardware and software to make the electricity grid more efficient.
The deal appeared to pay off in a big way last week, when the Energy Department announced $3.4 billion in smart grid grants, the New York Times reports. Of the total, more than $560 million went to utilities with which Silver Spring has contracts.
The move means that venture capital company Kleiner Perkins and its partners, including Mr Gore, could recoup their investment many times over in coming years.
Former Secretary Colin Powell Named Strategic Limited Partner at Kleiner Perkins Caufield & Byers
MENLO PARK, Calif. Kleiner Perkins Caufield & Byers KPCB an innovator in providing venture and relationship capitalSM services to entrepreneurs announced former Secretary of State Colin Powell has become a KPCB strategic limited partner.
Chicago Climate Exchange Names Founding Members
Chicago Climate Exchange and Joyce Foundation via Washington Post ^ | 1.17.2003 | Chicago Climate Exchange
Posted on Saturday, September 20, 2008 8:22:37 AM by Calpernia
Excerpt of first source:
Chicago Climate Exchange Names Founding Members
Leaders from Automotive, Chemical, Commercial Real Estate, Environmental Services,Electric Power Generation, Electronics, Forest Products, Municipal, Pharmaceutical and Semiconductor Sectors to join North American Voluntary Private Sector Program to Reduce and Trade Greenhouse Gases
(CSRwire) CHICAGO,IL - Efforts to develop market-based solutions to global warming reach a milestone today as leading U.S. and international companies and the City of Chicago announce they will be the Founding Members of Chicago Climate Exchange (CCX®), a voluntary cap-and-trade program for reducing and trading greenhouse gas emissions. In an unprecedented voluntary action, these entities have made a legally binding commitment to reduce their emissions of greenhouse gases by four percent below the average of their 1998-2001 baseline by 2006, the last year of the pilot program.
The founding members of CCX include American Electric Power (AEP), Baxter International Inc., the City of Chicago, DuPont, Equity Office Properties Trust, Ford Motor Company, International Paper, Manitoba Hydro, MeadWestvaco Corporation, Motorola, Inc., STMicroelectronics, Stora Enso North America, Temple-Inland Inc. and Waste Management,Inc.
CCX will administer this pilot program for emission sources, farm and forest carbon sinks, offset projects and liquidity providers in North America. To foster international emissions trading, offset providers in Brazil can also participate. The development of CCX resulted from feasibility and design studies that were funded by grants from the Chicago-based Joyce Foundation and administered by Northwestern Universitys Kellogg Graduate School of Management. Environmental Financial Products, LLC conducted the research and development effort.
Excerpt of second source:
The Joyce Foundation’s Annual Reports list Barack Obama as one of the 12 members of the Board of Directors from 1998 until 2001.
Barack Hussein Obama Biography Excerpt:
Experience Businesses Owned, Past Careers, Board Memberships, Etc.:
Center for Neighborhood and Technology
Chicago Annenberg Challenge
Cook County Bar
Cook County Bar Association Community Law Project
Board Member, Joyce Foundation
Lawyer’s Committee for Civil Rights Under the Law
Leadership for Quality Education
Member, Trinity United Church of Christ
Board Member, Woods Fund of Chicago
NJ Gov. Jon Corzine, Hot Air, Obama and You
NJ Gov. Jon Corzine is working Barack Hussein Obamas campaign. Word is Corzine is promised a high level position in the Treasury in an Obama Presidency. Corzine was former CEO of Goldman Sachs. A NJ local News Source said that Corzine told Merrill Lynch and his Wall Street buddies that this financial crash will be fixed in an Obama admnistration. No details on how though. Merrill Lynch has offices in NJ and it seems they are very worried.
Maurice Strong is involved with Chicagos Climate Exchange. Al Gore is chairman of a private equity firm called Generation Investment Management. That firm invests money from institutions and wealthy investors in companies that are going green. Generation Investment Management purchases carbon dioxide offsets. The co-founder of Generation Investment Management is former Goldman Sachs CEO Hank Paulson, who is currently the Secretary of the U.S. Treasury. Goldman Sachs bought 10% of Chicagos Climate Exchange shares for $23 million. Chicagos Climate Exchange owns half of the European Climate Exchange, Europes largest carbon trading company.
Maurice Strong: Chicago Climate Exchanges board member. Canadian Maurice Strong has made a career and a fortune out of financial rip-offs. Strong served on the board of the International Union for the Conservation of Nature (World Conservation Union) and was an advisor to the UNs Kofi Annan. Among many other things, he was the first Executive Director of the United Nations Environment Program in the 1970s and Secretary General of the 1992 UN Conference on Environment and Development, also known as the Earth Summit.
Goldman Sachs: The largest shareholder of the Chicago Climate Exchange and the second largest shareholder of the InterContinental Exchange. In fact, Goldman Sachs put Al Gore into the carbon offset hedge fund business in 2003 when David Blood, a former CEO of Goldman Sachs Assets Management, along with two other former Goldman Sachs officers, helped Gore establish his firm, General Investment Management, which focuses on Sustainable Investing by peddling carbon offsets.
Jon Corzine: He is now the Governor of NJ. He retired from Goldman Sachs in 1999 after taking the firm public and receiving at least $320 million worth of its stock. He ran for the Senate in New Jersey in 2000, spending more than $60 million of his fortune to win the seat. The bubble of high-priced technology stocks began to burst in March 2000. In August 2000, the SEC issued a warning against aftermarket sales, also known as laddering. Ive never even heard the term laddering before, Corzine said.
However, Nicholas Maier of Cramer & Co. said it happened on Corzines watch. For Corzine not to know of a common practice being utilized to generate and manipulate stock prices would be surprising, Mr. Maier said. He was obviously there during this time. I definitively saw his company engaged in illegal activity. They (the SEC) expressed to me that laddering is a trickier thing [to prove], Maier said. I will say it. They did it. They laddered. Whether the SEC can construct a case is a different story.
Al Gore: Owns a carbon trading business, Generation Investment Management. They were banked with the Lehman Bros. The Generation Investment Management business has considerable influence over the major carbon credit trading firms that currently exist.
Merrill Lynch: Deeply involved in the Carbon trading business. They are a founding member and primary sponsor of the U.K.-based Carbon Disclosure Project. Merrill Lynch is headed by John A Thain who is a Goldman Sachs alumni.
Lehman Brothers: Created a propaganda piece last year about climate change to make their investors keep getting high profits from the Kyoto carbon trade scheme and the support of huge public subventions. All that, of course, with the applause of the usual choir of politicians, the entire media and the Greens.
A year ago they couldnt predict their bankruptcy but were predicting the climate 100 years ahead. Thousands of green militants have been using the Lehman report as a proof of global warming and impending chaos. The report is the basis for policies on climate change in Spain, Argentina and several other countries playing the progress game.
Chicago Climate Exchange: The Exchange owes it existence in part to the Joyce Foundation, the Chicago-based liberal foundation philanthropy that provided $347,000 in grant support in 2000 for a preliminary study to test the viability of a market in carbon credits. On the CCX board of directors is the ubiquitous Maurice Strong, a Canadian industrialist and diplomat who since the 1970s has helped create an international policy agenda for the environmentalist movement.
Joyce Foundation: Provided grant support to test the market in carbon credits. Barack Hussein Obama sat on their Board from 1998 until 2001.
10/4 and rodger that Alpha Whiskey Mike........!
Maintain conver and await assistance from rescue force Uniform Alpha November............
Well you know what they say... the criminal mind is always superior. One must figure out how to make easy money. No real labor involved. It is interesting to say the least at how so many committed socialist/outright commies are involved in making so much money.
Glad I had the time and FRiends to help. Ayers updates have slowed down lately of course. ETL is great when it comes to Ayers.<<<
Yes, I keep an eye out for ETL’s posts, they are indeed full of information.
I thank you both.
Hayworth vs. McCain Primary Headline Roundup
[Over 280 posts/links]<<<
Excellent, thank you for the information for of course I intend to support Hayworth.
If you are still pinging to it, please add me to your list.
Yes, I am in Arizona, near Kingman.
I knew I had spelled it wrong, it is CCX.
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