(12b) Progression of GHG Emissions Benchmarking

The efforts to measure, regulate, and control the emissions of greenhouse gases (GHG) by the refining and petrochemicals industries have been in effect in varying degrees in several countries and regions around the world. Companies that operate such facilities in regions with pending or active regulation of GHG have sought the assistance of Solomon, a consulting firm that has conducted benchmarking studies for these industries since the 1980s. In this paper, Solomon shares their experiences gained from working with companies, industry associations, and regulatory agencies around the globe. Topics covered include following:

? Methodologies used and accepted by regulatory agencies ? Cooperation between industry associations and regulatory agencies ? Allocations vs cap-and-trade methods of limiting emissions ? Intensity-based and complexity-based benchmarks, such as the Carbon Emissions Intensity (CEI?) metric vs emissions per unit of production or throughput

Examples of timelines for regulatory negotiations and supporting analyses, as well as experiences gained in these negotiations, will also be discussed in the paper.