Hill Heat

The Environmental and Energy Study Institute (EESI) invites you to a briefing on policies and practices to address wildfires. Billions of dollars are spent fighting wildfires every year, and the cascading economic, health, and societal impacts of wildfires are enormous. Compounding these challenges, wildfires also release greenhouse gases and harmful aerosols into the atmosphere. Over the last century, battling wildfires after they have started has been the main approach to address this threat. Yet, with record-setting fire seasons happening almost every year, more proactive and preventative steps are needed.

Panelists will discuss policies and practices that would allow the United States to reduce the overall risk of wildfires, including how innovations in community-centered wildfire protection can improve resilience for humans and ecosystems.

Speakers

• Rep. Joe Neguse (D-Colo.)
• Carly Phillips, Western States Climate Team Fellow, Union of Concerned Scientists
• Kimiko Barrett, Wildfire Research & Policy Lead, Headwaters Economics
• Margo Robbins, Executive Director, Cultural Fire Management Council
• Steve Bowen, Managing Director and Head of Catastrophe Insight, Aon

A live webcast will be streamed at 01:00 PM EDT.

RSVP

Hearing page

Witnesses:

• Dr. Gopinath “Gopi” Munisamy, Distinguished Professor, Department of Agricultural and Applied Economics, University of Georgia
• Karla Thompson, Vice President, JET Farms Georgia and Integrity Farms
• Sheryl Meshke, Co-President and CEO, Associated Milk Producers Inc., New Ulm, MN
• Neal Fisher, Administrator, North Dakota Wheat Commission, Mandan, ND

Hearing page

Witnesses:

• Dr. Joseph Janzen, Assistant Professor, Department of Agricultural and Consumer Economics, University of Illinois Urbana-Champaign
• Robert Craven, Extension Economist and Associate Director, Center for Farm Financial Management, University of Minnesota, St. Paul, MN
• Dr. Ronald L. Rainey, Assistant Vice President and Professor / Director, University of Arkansas System Division of Agriculture / Southern Risk Management Education Center, University of Arkansas
• Dr. Joe Outlaw, Professor and Extension Economist and Co-Director, Agricultural and Food Policy Center, Texas A&M University

The purpose of this hearing is to assess the challenge of oil and gas sector methane leaks from a scientific, technological, and policymaking perspective. The hearing will discuss the current scientific consensus regarding the role of methane leaks as a driver of oil and gas sector methane emissions. The hearing will highlight recent advances in innovative leak detection and repair technologies, as well as the importance of deploying such technologies broadly throughout oil and gas sector operations to achieve large-scale reductions in methane emissions. Finally, the hearing will examine research gaps related to oil and gas sector methane emissions and opportunities for the Federal government to support scientific research activities pertaining to oil and gas sector methane leaks.

Hearing charter

Committee report

Committee staff conclude that oil and gas companies are failing to design, equip, and inform their Methane Leak Detection and Repair (LDAR) activities as necessary to achieve rapid and large-scale reductions in methane emissions from their operations. The sector’s approach does not reflect the latest scientific evidence on methane leaks. Oil and gas companies must change course quickly if the United States is to reach its methane reduction targets by the end of this decade. The Committee staff also learned that oil and gas companies have internal data showing that methane emission rates from the sector are likely significantly higher than official data reported to EPA would indicate. A very significant proportion of methane emissions appear to be caused by a small number of super-emitting leaks. One company experienced a single leak that may be equivalent to more than 80% of all the methane emissions it reported to EPA – according to EPA’s prescribed methodology – for all of its Permian oil and gas production activities in 2020.

Witnesses:

• Dr. David Lyon, Senior Scientist, Environmental Defense Fund
• Riley Duren, Chief Executive Officer, Carbon Mapper
• Dr. Brian Anderson, Director, National Energy Technology Laboratory
• Dr. Greg Rieker, Co-Founder and CTO, LongPath Technologies, Inc.

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

Hearing page

The FY 2023 Defense budget includes $1.1 billion in requested funds for environmental restoration.

Hearing page

Hearing page

Witnesses:

• 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

Legislation:

• 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.”

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

In conversation:

• Gov. Gretchen Whitmer (D-MI)
• Patrick Gaspard, President and CEO, Center for American Progress

Panelists:

• Cindy Estrada, Vice President, United Auto Workers
• Carolina Martinez, Climate Justice Director, Environmental Health Coalition
• Terry Travis, Managing Partner, EVNoire

Moderator:

• 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 CAPeventquestions@americanprogress.org.

For more information, please contact Sam Hananel at shananel@americanprogress.org.

Hearing page

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.