AIG Quits USCAP

Published February 09, 2009

Fallen insurer American International Group has withdrawn from the U.S. Climate Action Partnership (USCAP) over questions of the company putting taxpayer money toward its membership in the group, which is lobbying Congress for climate change legislation.

The company, propped up by billions of federal tax dollars in late 2008 to avoid a collapse, was queried over its continued participation in USCAP by Rep. Joe Barton, R-Texas, who is a critic of mandatory greenhouse gas emissions cuts because he's afraid the legislation will hurt the U.S. economy, according to Dow Jones Newswires.

"It is entirely appropriate for AIG to withdraw from USCAP," Barton told the wire service. "American taxpayers now own 80 percent of AIG and they should not have to fund its lobbying efforts to make cap-and-trade a reality."

USCAP is a coalition of corporations and environmental groups with members that include Dow Chemical, Ford Motor Company, PepsiCo, Xerox, Environmental Defense Fund, Shell, Siemens and Johnson and Johnson, among others. Last month, USCAP offered a blueprint for reducing greenhouse gas emissions 80 percent below 2005 levels by 2050, with a federal greenhouse gas cap-and-trade as the centerpiece. AIG joined USCAP in April 2007.

AIG, which could make money from a cap-and-trade through climate change-related insurance products, told Dow Jones through a spokesman it hasn't changed its position on cap-and-trade but it has made a decision to suspend federal lobbying activity.

Converting Brownfields to Renewable Energy Sites Will Create Jobs, Lure Investors: Study Michigan's unoccupied brownfield sites have the potential of housing renewable energy facilities that could generate 5,855 megawatts, some 17,500 jobs and more than $15 billion in investments, according to a study by the Land Policy Institute at Michigan State University....	Nissan Takes Low-VOC Paint to the Aftermarket Nissan has rolled out a couple water-based paints for aftermarket use in Japan, with more on the way....
State of Green Business 2009: Greener Design Comes Out of the Lab Along with the growth of concern about toxics in everyday products has come a growing number of solutions, a small but promising toolkit of chemical alternatives and design strategies aimed at wringing out the most toxic ingredients -- and, at the same time, improving some products' performance characteristics....	Timex Unveils Connecticut's Largest Solar Array Watchmaker Timex USA unveiled Connecticut's largest solar array yesterday at its Middlebury headquarters....
UPS Awarded $470K For Cleaner Diesel Engines UPS will receive over $470,000 from the U.S. EPA to replace diesel engines and generators at its Worldport air hub....	ICCR Publishes 'Climate Risk Profiles' for 150 Companies The Interfaith Center on Corporate Responsibility evaluated companies based on their carbon footprints and how they compare to others in their sector....
Hotels Look to LEED to Boost Green Cred Hotel operators know the value of incorporating green practices into their operations. And as hotels increasingly make claims about their green policies, more now seek certification to add the credibility of a reputable third-party verifier. Certification via LEED for Existing Buildings is internationally recognized across all industries and buildings types....	Green X Prize Challenge to Focus on Advanced Energy Storage A winner has been chosen for the X Prize Foundation's contest to decide what the focus of the X Prize's energy and environment challenge will be....

Alternative content

AIG Quits USCAP

Register for GreenBiz Events