CSR Press Release

April 16, 2009
What: "Confronting the Carbon Challenge: Business Implications of the Developing North American Carbon Markets"

Who: Pat Concessi, global leader, Climate Change and Sustainable Resources

When: Available immediately

Where: www.deloitte.com/us/sustainability/confrontingthecarbonchallenge

Details: Momentum for development of North American carbon markets continues to grow, driven by the need to participate in international negotiations to be held in Copenhagen later this year, by the commitments and actions of the new U.S. administration and by the steady progress of the Western Climate Initiative, among other influences. Business has accordingly been prompted to react to these existing and emerging U.S., Canadian and cross-border carbon markets.

• This Deloitte whitepaper provides a comprehensive overview of the implications of cap-and-trade for business, including:
  
• Substantial incremental costs for entities in carbon markets
  
• Business strategy
  
• Risk identification
  
• Governance and organization design
  
• Carbon price impacts on contracting in capital allocation decisions
  
• Carbon as a new commodity
  
• Reconsidering accounting policy elections
  
• Significant financial statement implications
  
• Tax implications
  
• Reporting and disclosure
  
• Implications on companies that are not regulated by the carbon trading program
  
• Cost of carbon in asset valuations
  
• Fraud risk related to carbon
  
• The need to be actively involved in shaping the details

All in all, as carbon markets develop in North America, businesses are challenged to manage a wide variety of impacts. How nimbly they respond will perhaps define competitive positions in the cap-and-trade era that becomes more imminent with each passing day.

To speak with Pat Concessi and other members of Deloitte's carbon markets and enterprise sustainability leadership about the business implications of the developing U.S. carbon markets, please contact Cory Ziskind at +1 212-492-4408, or cziskind@deloitte.com.

About Deloitte
As used in this document, "Deloitte" means Deloitte Consulting LLP and Deloitte Services LP, separate subsidiaries of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

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