MEMORANDUM FOR THE PRESIDENT THE WHITE HOUSE WAS HINGTO N June 6 1998 -crpi CO'S FROM SUBJECT Congres-sional TODD STERNA Climate Change Weekly Report Appropriations The Energy and Water appropriations bill was reported out offull committee on Thursday and the climate change portion - which funds our renewable energy efforts - was slashed Our proposed increase for FY 99 was rejected while fimding actually dropped below the FY 98 level Sen Jeffords who secured 42 signatures on a Dear Colleague letter in April T pporting our renewables request plans to fight the renewables cut with a floor amendment We are working with him and provided a strong 0MB letter to Sen Stevens the Appropriations Committee Chair protesting the cut in renewables as well as several other cuts in the Energy and Water bill The Senate may take up the bill on the floor Wednesday The House Energy and Water Subcommittee is scheduled to mark up their version ofthe bill on Wednesday as well Hearings Climate change hearings were held in the House Small Business Committee and the Senate Energy and Natural Resources Committee Janet Yellen gave her usual overview of climate change economics in the House hearing The Senate hearing chaired by Sen Murkowski who is hostile to our policy focussed on a critical GAO report and included several mid-level Administration witnesses Murkowski was particularly critical ofwhat he sees as our perverse opposition to nuclear and hydro power since neither emit greenhouse gases Senators Grams and Craig were also hostile to our climate policy while Sen Bumpers was a strong defender Diplomatic Bonn The Bonn meeting preparatory to the November “Conference ofthe Parties” meeting in Buenos Aires began Monday and continues through the upcoming week This is a mid-level mostly technical meeting The most controversial issue is emissions trading which remains under attack fi’om much ofthe EU and developing world The EU released a paper today proposing tight restrictions on emissions trading including a cap on the amount of emission allowances a country could purchase fi om abroad China China signed the Kyoto Protocol this week without fanfare The signature doesn’t mean that much since the Protocol subjects China to no binding obligations though China may cite it as evidence that it takes climate change seriously To date more than 35 countries -including Canada Australia Japan and the EU - have signed the Kyoto Protocol Korea State Department officials met with Korean counterparts several times this week on climate change in preparation for next week’s summit We are seeking Korean agreement to take an emissions target and offering assistance from energy environment and economics experts in that regard No very positive response yet Discussions will continue over the weekend Science On Monday the Vice President will hold an event in the Roosevelt Room presenting a new analysis by the National Oceanic and Atmospheric Administration suggesting that global warming is leading to more frequent and more intense El Ninos The Vice President also will announce that each ofthe first five months ofthis year set a new temperature record further evidence of a warming trend NOAA Administrator Baker will summarize the impacts ofthis winter’s El Nino and explain how early forecasts ofthe El Niflo helped reduce the toll cc Vice President Erskine Bowles John Podesta Ron Klain Katie McGinty Gene Sperling Tim Steinberg Janet Yellen