Beyond the targets, few details were provided in the Bush plans. As a result, they serve largely as a marker for the US Congress. Given the difficulty in moving environmental legislation, business should expect to continue to wait for regulatory certainty.
Charting a new path
The Bush global climate change plan offers a modest voluntary GHG ‘intensity’ target. Emissions intensity is defined as the volume of GHG emissions per million dollars of gross domestic product. Under the plan, the US will reduce its emissions intensity from its current 183 tonnes of emissions per million dollars GDP to 151 tonnes in 2012 – close to an 18% reduction over 10 years.While setting a goal is laudable, this target largely mirrors emissions trends over the past decade. Further, the Bush target continues to move the US away from its commitments under the United Nations Framework Convention on Climate Change –