In the emerging carbon economy‚ projects that reduce‚ eliminate‚ or sequester carbon emissions will have enormous value. An examination of climate change legislation recently passed by the U.S. House of Representatives1 indicates how important such projects will be and the many questions that remain about them. Those who participate in the legislative and regulatory processes that will define the amounts and types of eligible projects can gain a competitive advantage by ensuring they capture the full value of such projects.

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