Introduction

Tom Kerr
Amy Royden
Newsletter Co-Editors

Welcome to the Spring 2003 edition of the Newsletter. For many years, the mainstream view in the business community on climate change was that it is a long-term issue that will take years to sort out and, therefore, companies need not take a serious look at how it might affect them. However, the reality is that there are an increasing number of climate change developments at the state, federal, and international levels that directly affect companies today. Companies are responding to these developments in a variety of ways, including voluntary greenhouse gas emissions (GHG) reporting, emissions trading, or strategic planning to reduce their carbon risk exposure.

With this issue, we are continuing our tradition of providing you with practical information about the latest climate change developments. This issue will focus on international developments, and includes an update on Kyoto Protocol ratification, information on the new greenhouse gas (GHG) accounting standard under development by the International Organization for Standardization (ISO), as well as reports on efforts underway in the European Union and Canada to implem-ent their Kyoto obligations. Future issues of the Newsletter will focus on climate initiatives in U.S. states and voluntary company activities to track, reduce, report and otherwise mitigate their “carbon risk” exposure.