2008 Resources for the Future Annual Report

Resources for the Future
Annual Report
oday, in Congress, in corporate boardrooms, in communities, and at dinner tables across the nation, there
are urgent demands for a new generation of policy action on the intertwined issues of energy, the environment, and our economy.
As these issues have hit home for Americans, policymakers have
increasingly sought nonpartisan research and expertise to heighten
their capacity for informed decisionmaking. From cost-effective
strategies for emissions reduction to smart growth, smart grids, and
management of public lands, many local, state, and federal stakeholders recognize that policy decisions today will have far-reaching
In Resources for the Future, these audiences have found a distinguished community of experts, an institution committed to improving environmental policymaking, and an honest broker of research of
the highest caliber.
A Joint
philip r. sharp
lawrence h. linden
Given rff’s unique legacy and expertise, 2008 was a watershed year
for our institution as public concerns in the areas of energy and climate in particular reached unparalleled levels.
In response, rff in 2008 convened important, cross-sectoral dialogues as part of the Climate Policy Forum and the Harvard Project
on International Climate Agreements, which assembled privatesector leaders, nonprofits, and climate and energy experts to provide
legislators with well-vetted, detailed policy options from which effective domestic and international climate policy might be crafted.
In addition, rff’s report, Assessing U.S. Climate Policy Options,
was widely disseminated and used extensively by Capitol Hill staff as
legislative proposals were drafted during the 110th Congress. And,
through long-term cooperative effort with states from Maine to Maryland, rff researchers played a leadership role in the design of the
first-ever U.S. emissions allocation auction through the Regional
Greenhouse Gas Initiative.
In the area of energy policy, rff launched a major new initiative to
identify energy policy options that reduce greenhouse gases and improve energy security at the lowest possible costs. This effort brings
in internationally recognized experts working toward a common goal
and uses the Department of Energy’s National Energy Modeling System as a unifying modeling core.
Further, rff launched a seminar series at the request of the U.S.
Environmental Protection Agency (epa), focused on the economics
of climate change. As the United States moves toward federal legislative action to reduce domestic greenhouse gas emissions, this series addresses the pressing need for experts to share ideas and discuss the technical details of policy choices.
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Throughout the year, rff scholars were invited to testify before
congressional panels such as the House Ways and Means Committee; serve on advisory bodies for the California Market Advisory
Committee, doe, nasa, epa, and National Research Council; and frequently brief congressional members and staff, the executive branch,
and state and local officials on energy, climate, and other environmental issues of great public concern.
The collective result of these activities is that rff has been propelled to the forefront of some of the most challenging and vital policy debates of our time.
We are also proud to report that two of our researchers have
joined the administration: Billy Pizer is the deputy assistant secretary
for environment and energy at the Treasury Department and Joe
Aldy is now on leave, serving as special assistant to the president for
energy and environment in the White House.
Finally, rff is in sound financial condition, but is not, of course,
immune to the financial problems facing every institution. Our reserves, on which we depend for a significant portion of our income,
declined during the year. In response, we have tightened our expenses and are deferring some planned investments.
On behalf of the rff Board and staff, we invite the broader community of individuals and institutions that value rigorous academic inquiry, informed policymaking, and research-based solutions to join
us as we work to make a discernible difference on the environmental policy issues that matter most to our society today.
rff’s knowledge base has never been more relevant or in greater demand. What may not be apparent is that our success flows from investments that the institution made many years ago. The lesson is that
real impact depends on the ability to stay focused on important issues even if they are not yet at the top of the public agenda. As an
institution, we will continue to focus both on near-term, urgent issues
and the incubation of new ideas and solutions to challenges that may
lie just over the horizon. The need for rff’s unique combination of
independent, rigorous, and policy-relevant research extends to topics ranging from carbon sequestration to ecosystem management,
and from food safety to public health.
With this in mind, our work in 2009 will target four objectives:
† Generating new research to address some of the most pressing
issues of our time
† Engaging policymakers and other leaders who will benefit from
this new knowledge
Philip R. Sharp
Resources for the Future
Lawrence H. Linden
Founder and Trustee
Linden Trust for Conservation and
Retired Partner, Goldman Sachs
† Fostering the next generation of thought leaders in the field of
environmental policy research
† Exploring emerging frontiers that hold promise of enhancing the
sustainability of our nation and society overall
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W hat We Do
The combination of scholarly and policy excellence remains the hallmark of Resources for the Future. No other think tank combines rff’s
level of academic rigor with a commitment to informing policymakers
in a nonpartisan way. It is our belief that not only does policy benefit
from the highest quality research, but major intellectual advancements
are most likely to arise from creative minds tackling important societal challenges.
Today our scholars are engaged in a broad array of issues, including helping policymakers understand the direct impact of proposed
climate legislation on American households and businesses, crafting
policy mechanisms to incorporate forest protection into a global climate strategy, developing innovative ways to extend the effectiveness of antibiotics and antimalarial drugs, and refining methods to
measure and value ecosystems.
rff continues to rank among the top institutions of its kind, as shown
by a 2008 international survey published in Foreign Policy, encompassing nearly 170 nations. rff was named as one of the top 25 U.S.
think tanks in a field of more than 5,500 worldwide.
top row from left:
maureen cropper,
steve brown, art
center row from left:
billy pizer, joe aldy,
sandra hoffmann
from far left:
roger cooke, dallas
This year rff made two important additions to its leadership team.
Mark Cohen joined rff as vice president for research, a newly created position that will oversee all research programs and guide efforts
to align rff’s mission with current environmental, energy, natural resource, and public heath policy issues. He previously was a professor
at Vanderbilt University’s Owen Graduate School of Management and
co-founder of the Vanderbilt Center for Environmental Management
Studies. In addition, Lea Harvey, a long-time fundraising executive for
leading environmental and nonprofit governing organizations, joined
rff as vice president for development. Before that, she held the same
position at BoardSource, a Washington-based publishing and consulting service for nonprofit organizations. Earlier in her career she
held several key positions at World Wildlife Fund from 1998 to 2005.
rff has attracted to its ranks several individuals who combine research expertise with experience in a policy setting. These include
Maureen Cropper, former lead economist at the World Bank; Stephen
Brown, former director of Energy Economics and Microeconomic Policy Analysis at the Federal Reserve Bank of Dallas; and Arthur Fraas,
former chief of the Natural Resources, Energy, and Agriculture
Branch, Office of Information and Regulatory Affairs, Office of Management and Budget.
And with the advent of a changed political environment, rff scholars often find the opportunity to assume influential positions in the
U.S. government. In the past year, Fellow Joe Aldy began a leave of
absence from rff to serve as special assistant to the president for energy and environment in the White House. Former rff Senior Fellow
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Billy Pizer is now deputy assistant secretary for environment and energy at the Treasury Department.
rff scholars have regularly served on prestigious government panels,
and this year is no exception. To name just a few examples, rff President Phil Sharp and former President Bob Fri serve on the nas Committee on America’s Climate Choices. Senior Fellow Dallas Burtraw was
appointed to the California Market Advisory Committee to support the
implementation of the state’s first-in-the-nation greenhouse gas reduction program. Joe Aldy, Billy Pizer, and Roger Sedjo were among
experts assembled by the gao to assess policy options to address climate change Molly Macauley was named to nasa’s Applied Sciences
Advisory Group, a congressionally requested external advisory panel.
Roger Cooke was appointed to epa’s Science Advisory Board. Sandra
Hoffmann is a member of the Institute of Medicine/National Research
Council committee that is producing a report on biosurveillance.
To improve environmental policymaking in developing countries, rff
is working with the Environmental Economics Unit at the University
of Gothenburg in Sweden to support national centers for environmental economic analysis in China, Costa Rica, Ethiopia, Kenya, South
Africa, and Tanzania.
The Environment for Development (efd) initiative was partly inspired by rff’s history of helping to improve policymaking by applying rigorous, objective economic analysis to important environmental and natural resource policy issues. The main activity of the efd
centers is international research collaboration. Policy instrument
analysis, nonmarket valuation, and behavioral and experimental economics are used to analyze land management, forestry, fisheries,
wildlife, climate change, and environmental fiscal reform. The centers also provide policy advice and training.
In both formal hearings and private briefings, rff researchers are in
constant demand by members of Congress, key committees, and staff
on Capitol Hill. Scholars are participating in a regular series of briefings for Senate staff on issues ranging from cost-containment options,
policies to address leakage of carbon emissions and the distributional
impacts of different climate policies on U.S. households.
Addressing Price Volatility in Climate Change Legislation
Dallas Burtraw
U.S. House of Representatives, Committee on Ways and Means
Competitiveness and Climate Policy: Avoiding Leakage of
Jobs and Emissions
Richard D. Morgenstern
U.S. House of Representatives, Committee on Energy and
Commerce, Subcommittee on Energy and Environment
resources for the fu tu re
Protecting Lower Income Families While Fighting Global Warming
Dallas Burtraw
U.S. House of Representatives, Committee on Ways and Means,
Subcommittee on Income Security and Family Support
An Overview of the Economic Benefits of Cooperatives and
Individual Fishing Quota Systems
James N. Sanchirico, rff University Fellow
U.S. Senate, Committee on Commerce, Science, and Transportation,
Subcommittee for Oceans, Atmosphere, Fisheries, and Coast Guard
The Public Policy Response
Raymond J. Kopp
U.S. Senate, Committee on Energy and Natural Resources
Review of doe’s Nuclear Energy Research and
Development Program
Robert Fri
U.S. House of Representatives, Committee on Science and
lic Radio, Marketplace (American Public Media), USA Today, Financial Times, US News & World Report, National Journal, and Politico,
among many others.
Journal Articles
Articles by rff researchers have appeared in numerous peer-reviewed
journals including:
Ecological Economics
Emerging Infectious Diseases
Energy Economics
Energy Journal
Environment and Development Economics
Environmental and Resource Economics
Energy Policy
Environmental Health
Environmental Science and Technology
Economists, scientists, and policymakers come to rff throughout the
year to share insights and exchange ideas in seminars, technical workshops, and our monthly First Wednesday series.
Reforming Regulation of Food Safety
RFF Policy Leadership Forum with Treasury Secretary
Henry M. Paulson, Jr.
Journal of Urban Economics
Journal of Environmental Economics and Management
Journal of the Air and Waste Management Association
Journal of Economic Perspectives
Journal of Toxicology and Environmental Health
Proceedings of the National Academy of Sciences
National Tax Journal
Organizing the Federal Government to Address Climate Change
Infrastructure Modeling for Climate Policy
Transportation Research—Policy and Practice
Energy Policy Challenges: Is the Past Prologue?
Transportation Research Record
Sixth Annual Hans Landsberg Lecture with Sloan Foundation
President Paul Joskow
Federal Policies to Reduce Federal Greenhouse Gas Emissions
Challenges in Implementation of Environmental Protection Statutes
The Future of Climate Change—A Policy Preview
Managing Costs in a U.S. GHG Trading Program
Wildfires: Private Landowners, Nature, and Public Policy
rff researchers disseminate their findings through a number of forums, sharing results with their academic peers; giving reporters
needed background on important policy matters; and reaching out to
stakeholders in congressional offices, federal and state agencies, and
nonprofit organizations, both here and abroad. All rff publications
are available on our website, www.rff.org.
RFF in the Media
In an increasingly varied media environment, rff continues to be cited
in major news outlets as well as key trade publications and the blogosphere. Researchers have regularly appeared in The New York
Times, The Wall Street Journal, The Washington Post, National Pub6
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Issue Briefs
To capture a current public issue in a succinct yet accessible form, rff
has revived its Issue Brief series. Covering a range of topics, Issue
Briefs provide, in digestible format and no more than 8 pages, a useful overview of a policy topic. Issue Briefs seek to give timely information and analysis to a broad, nontechnical audience.
International Forest Carbon in Congress: A Survey of Key
Congressional Staff
Lou Leonard, Raymond J. Kopp, Nigel Purvis
Federal Funding for Conservation and Recreation: Trails Funding by
the Department of Transportation
Joseph Maher
Parks and Recreation in the United States: The National Park
Margaret A. Walls
Parks and Recreation in the United States: State Park Systems
Margaret A. Walls
Federal Funding for Conservation and Recreation: The Land and
Water Conservation Fund
Margaret A. Walls
Climate Change: Top 10 Precepts for U.S. Foreign Policy
Daniel Bodansky
Climate Change and Policy Considerations: New Roles for
Earth Science
Molly K. Macauley
Incorporating Resource and Environmental Change in a Nation’s
Economic Accounts: Roles for Earth Science Applications
Joel Darmstadter
rff’s quarterly magazine provides in-depth feature stories by rff researchers along with coverage of events here at rff. Written for a lay
audience and available free of charge, Resources serves as a gateway
to the full range of issues and ideas that are explored here.
RFF Weekly Policy Commentary
rff’s Weekly Policy Commentary series provides an easy way for students, academics, journalists, policymakers, and the general public
to learn about economic and other aspects of important environmental, natural resource, energy, urban, and public health problems.
Each week, a leading expert gives a short, non-technical assessment
of a particular policy topic, summarizing the current state of analysis
or evidence on the issue, along with selected recommendations for
further reading.
RFF Press
For a comprehensive list of books published by rff Press, please visit
Taming the Anarchy: Groundwater Governance in South Asia
Tushaar Shah
The Emergence of Land Markets in Africa: Impacts on Poverty,
Equity, and Efficiency
Stein T. Holden, Keijiro Otsuka, and Frank M. Place, editors
Perspectives on Sustainable Resources in America
Roger A. Sedjo, editor
Choosing Safety: A Guide to Using Probabilistic Risk Assessment
and Decision Analysis in Complex, High-Consequence Systems
Michael V. Frank
RFF Connection
rff Connection is our regular electronic newsletter that alerts nearly
5,000 subscribers to new rff research and policy analysis on environmental, energy, natural resource, and public health issues, forthcoming events, and selected media highlights.
resources for the fu tu re
assets year ending september 30
current assets
Cash and cash equivalents
Grants and contracts revenue receivable
Contributions receivable
Other receivables
Other assets
Total current assets
Contributions receivable, net of current portion
Investments at fair value
Investment in land
Investment in RCC
$ 39,864,359
$ 51,543,966
Fixed assets–net of accumulated depreciation
Assets held under charitable trust agreements
$ 49,846,852
$ 62,577,066
Total investments
F inancial
total assets
liabilities and net assets year ending september 30
current liabilities
Tax-exempt bond financing, current portion
Grants and awards payable
Accounts payable and accrued liabilities
Deferred revenue
Total current liabilities
Total liabilities
net assets
Temporarily restricted
Permanently restricted
In fiscal year 2008, rff's operating
revenue was $11.2 million, 70.9
Tax-exempt bond financing, current portion
Liabilities under split-interest agreements
Funds held for others
Total net assets
$ 40,714,263
$ 53,163,005
total liabilities and net assets
$ 49,846,852
$ 62,577,066
revenue 0.8%
book sales 1.8%
percent of which came from individual contributions, foundation
grants, corporate contributions,
investment &
rental income 26.5%
and government grants. rff
augments its income by an annual
withdrawal from its reserve fund
gifts and grants 70.9%
to support operations. At the end
of fiscal year 2008, the reserve
fund was valued at $26.8 million.
reso u rc es fo r th e fu tu re
statement of activities year ending september 30
changes in unrestricted net assets
Individual contributions
Foundation grants
Corporate contributions
Government grants and contracts
Other institution grants
Rental income
Investment income net of fees
Telephone revenue
Book sales
Total operating revenue
$ 11,196,767
$ 12,399,485
$ 10,300,895
Academic Relations
RFF Press
Other direct
Total program expenses
Management and administration
Building operations and maintenance
Total functional expenses
$ 13,875,513
$ 13,157,377
Change in unrestricted net assets from operations
( 2,678,746 )
( 757,892 )
Non-operating revenues (expenses)
Realized and unrealized gains (losses) on investment transactions
( 9,769,996 )
( 12,448,742 )
$ 40,714,263
$ 53,163,005
increase (decrease) in unrestricted net assets
net assets at beginning of year
net assets at end of year
development 4.7%
rff research and educational
programs continued to be vital in
building operations 8.9%
2008, representing 74.2 percent
of total expenses. Management
management and
administration 12.2%
and administration, and development expenses combined were
research programs 74.2%
only 16.9 percent of the total.
The balance is related to facilities
rented to other nonprofit organizations.
resources for the fu tu re
I ndividual
president ' s circle
$25,000 and above
under $5,000
Preston Chiaro
Jesse H. Ausubel
Lyle E. Gramley
Jean H. Bahr
Charles F. Kalmbach
H. Spencer Banzhaf
Donald M. Kerr
Michael J. Bean
Lawrence H. Linden
E. Peter Benzing
Henry B. Schacht
David Biltchik
Resources for the Future gratefully acknowledges gifts received from
Glenn C. Blomquist
the following donors of $100 and above during the 2008 fiscal year
(October 1, 2007 through September 30, 2008). Donors are listed ac-
$5,000 to $24,999
cording to the cumulative total given during this period. Donors who
Sarah J. Brachle
Harold Brown
Barbara Bush
made gifts of at least $5,000 are designated members of rff's Council
Abelow Family Foundation
and receive special benefits, including complimentary copies of all rff
publications, special access to rff researchers, and invitations to Coun-
Christopher C. Aitken and
Stephen Thacker
cil meetings and other rff invitation-only events.
Gregory Alexander
John M. Campbell
Melvyn L. Cantor and
Kathryn Gabler
Emery N. Castle
Vicky A. Bailey
Norman L. Christensen
Carter F. Bales
Brooke Coates
W. Bowman Cutter
R. H. Coates
John M. Deutch
R. H. Colby
E. Linn Draper
John C. Colman
John Evangelakos
Dale Colyer
Linda J. Fisher
Maureen L. Cropper
Dod A. Fraser
Joel Darmstadter
A. Myrick Freeman
Robert T. Deacon
Bob and Jill Fri
Kelly Eakin
Marcus Fromherz
Mohamed T. El-Ashry
Kathryn S. Fuller
Christopher J. Elliman
Edward F. Hand
James R. Ellis
R. Glenn Hubbard
Lee H. Endress
Raymond J. Kopp
Robert S. Epstein
Rubén Kraiem
Daniel C. and Elizabeth Esty
Michael A. Mantell
Margaret W. Fisher
Jan W. Mares
Lee S. Friedman
Steve Percy
William Fulkerson
Robert Perkowitz
Peter G. Garlid
Helen Raffel
David K. Garman
Peter J. Robertson
Wayne B. Gray
Roger W. Sant
Jennifer Haddox-Schatz
Philip R. Sharp
Perry R. Hagenstein
Mark R. Tercek
Lea Harvey
Oswald Honkalehto
reso u rc es fo r th e fu tu re
Fisher Howe
Holmes Hummel
James M. Kiefer
Robert A. Kistler
Pattie J. Koh
Thomas J. Lareau
Jack N. Lewis
Robert C. Lind
Thomas E. Lovejoy
Frank E. Loy
Paul McCarthy
Thomas Mistler
Dade W. Moeller
William Moffat
Ernest J. Moniz
M. Granger Morgan
John J. O'Hara
Bruce H. Parker
Ian W.H. Parry
Jonathan W. Peters
Andrew M. Petsonk
William Pizer
L egacy Society
Jo Ann K. Pizer-Fox
Julie A. Prestopnik
rff is especially grateful to the
Joshua Reeder
following individuals who have
Eirik Romstad
included our institution in their
Carol M. Rose
estate plans.
Catherine G. Abbott
Thomas J. Klutznick
John F. Ahearne
Allen V. Kneese*
Paul F. Balser
John V. Krutilla*
Milton Russell
Emery N. Castle
Hans H. Landsberg*
Pamela Spofford
Thomas D. Crocker
Steven W. Percy
J. Clarence Davies
Paul R. Portney
John E. Tilton
Margaret W. Fisher
William D. Ruckelshaus
David L. Weimer
Maybelle Frashure
Clifford S. Russell
M. Gordon Wolman
Kenneth D. Frederick
Flora Stetson*
Robert W. Fri
Helen Marie Streich
Darius W. Gaskins
Edward L. Strohbehn
Lincoln Gordon
Victoria J. Tschinkel,
founding member
Robert N. Stavins
Thomas H. Tietenberg
Anonymous (3)
Robert E. Grady
Gilbert F. White*
Debbie Groberg
Irving Zuckerman*
Winston Harrington
Donald M. Kerr
resources for the fu tu re
* Deceased
C orporate
rff would like to thank all of the corporations and associations that supported our research and outreach efforts in 2008. These organizations
share rff’s interest in informing the public policy debate—and their contributions provide much of the general support required to run our dayto-day operations. This marks the second year of our President’s Circle,
which recognizes those corporations and associations that donated
$50,000 or more annually. Since its founding in 1991, the rff Council has
recognized corporations and associations that contribute at least $25,000
annually to rff.
The individuals listed in each of these two categories represent their respective organizations on the President’s Circle and Council, and make
up a valuable community of corporate stakeholders on whom we rely for
honest feedback on our work.
president ’ s circle
$50,000 and above
Alcoa Foundation
Meg McDonald
American Electric Power
Company, Inc.
Bruce H. Braine
Vice President, Strategic Policy
General Motors Corporation
G. Mustafa Mohatarem
Chief Economist
Goldman, Sachs & Co.
Tracy R. Wolstencroft
Managing Director
Parsons & Whittemore, Inc.
James M. Matheson
Senior Vice President
Chevron Corporation
Georgia A. Callahan
General Manager, Global Policy &
PG&E Corporation
Steven L. Kline
Vice President, Federal
Governmental & Regulatory
R.A. Ridge
Vice President, Health, Safety &
Rio Tinto, plc
Marcelle Shoop
Director, Environmental Policy and
Duke Energy
James E. Rogers
President & Chief Executive Officer
Weyerhaeuser Company
Cassie L. Phillips
Vice President of Sustainable
ExxonMobil Corporation
Sherri K. Stuewer
Vice President, Safety, Health, and
rff council
$25,000 to $49,999
American Chemistry Council
Michael P. Walls
Managing Director, Regulatory &
Technical Affairs
American Honda Motor
David Raney
Senior Manager, Environmental &
Energy Affairs
American Petroleum Institute
Robert L. Greco, III
Group Director, Downstream &
Industry Operations
Aramco Services Company
James W. Ragland
Director, Economic Research
Cargill, Inc.
Bryan Dierlam
Director, Federal Government
Chrysler llc
Reginald R. Modlin
Director, Environmental & Energy
PPL Corporation
Paulette C. Pidcock
Vice President, Federal
Government Relations
The Salt River Project
Richard M. Hayslip
Assistant General Manager
Environment, Human Resources,
Land, Risk Management &
Shell Gas and Power Americas
Curtis Frasier
Executive Vice President
Southern Company
Chris M. Hobson
Vice President, Environmental
Tokyo Electric Power Company
Kenji Matsuo
General Manager
Toyota Motor
North America, Inc.
Josephine S. Cooper
Group Vice President, Gov't &
Industry Affairs
Two Sigma Investments llc
Pierre S. DuPont
Cummins Inc.
Christine M. Vujovich
Vice President, Environmental
Policy & Product Strategy
Verizon Communications Inc.
Christopher Lloyd
Executive Director, Public Policy &
Corporate Responsibility
The Dow Chemical Company
Peter A. Molinaro
Vice President, Federal & State
Government Affairs
Volkswagen of America, Inc.
David Geanacopoulos
Executive Vice President & General
Eastman Chemical Company
Lynn L. Schloesser
Director, Federal Affairs
Warburg Pincus, llc
Peter R. Kagan
Managing Director
Electric Power Research
Steven R. Specker
President & Chief Executive Officer
FirstEnergy Corporation
Thomas M. Welsh
Assistant to the CEO
Nuclear Energy Institute
Marvin S. Fertel
Acting President & Chief Executive
under $25,000
Alliance of Automobile
Association of International
Automobile Manufacturers
American Forest & Paper
reso u rc es fo r th e fu tu re
F oundation and
Government Support
foundations and
other institutions
Strategies for the Global
The Tinker Foundation
rff would like to thank the many
philanthropic foundations and
Tu Delft Universite
other independent organizations
University of Gothenburg
that provided support in 2008.
These gifts help diversify our
University of North Carolina at
Chapel Hill
funding base, advance key proj-
The World Bank
ects, and extend our research on
World Wildlife Fund
important policy issues.
The Bill and Melinda Gates
government agencies
rff receives approximately 18 per-
The Bipartisan Policy Center
the form of project grants and con-
The Doris Duke Charitable
tracts from government agencies.
must be nonproprietary. That is,
The G. Unger Vetlesen Foundation
rff insists on the right to share the
George Kaiser Family Foundation
results of the work with all partici-
Government of Canada
Harvard University
Equitable Resources
ArborGen, llc
Mead Westvaco
The Babcock & Wilcox Company
The Henry M. Jackson Foundation
Inter-American Development Bank
IVL, Swedish Environmental
Research Institute, Ltd.
U.S. Department of Agriculture
U.S. Department of Commerce
(National Oceanic and Atmospheric
U.S. Department of Energy
U.S. Environmental Protection
U.S. Geological Survey
Life Sciences Research Office
Maryland Department of the
Natsource, llc
Mizuho Information & Research
National Aeronautics and Space
RAND Corporation
National Science Foundation
The Robert Wood Johnson
New York State Energy Research and
Development Authority (nyserda)
Constellation Energy
Deutsche Bank Americas
S.C. Johnson & Sons, Inc.
Elliot Company of Indianapolis
Stout & Teague
Management Corporation
Simons Foundation
Vinson & Elkins, llp
The Smith Richardson Foundation
resources for the fu tu re
pants in the policy process.
Midwest Generation
CF Industries, Inc.
Consolidated Edison Company
of New York
Government-sponsored research
Ford Foundation
The Gordon & Betty Moore
cent of its total operating revenue in
The Conservation Fund
Robert and Ardis James Foundation
U.S. Department of Transportation
Lawrence H. Linden*
Founder and Trustee
Linden Trust for Conservation
Steven W. Percy*
Vice Chair
Former CEO
BP America
Philip R. Sharp*
Resources for the Future
Vicky A. Bailey
Anderson Stratton, International llc
Michael J. Bean
Chair, Wildlife Program
Environmental Defense Fund
Trudy Ann Cameron
Raymond F. Mikesell Professor
of Environmental and Resource
University of Oregon
Preston Chiaro
Chief Executive Officer
Rio Tinto Energy Group
W. Bowman Cutter*
Managing Director
Warburg Pincus
John M. Deutch
Institute Professor
Massachusetts Institute of
E. Linn Draper, Jr.
Retired Chairman of the Board,
President and CEO
American Electric Power
Company, Inc.
Mohamed T. El-Ashry*
Retired CEO and Chairman
Global Environment Facility
Daniel C. Esty
Hillhouse Professor of
Environmental Law and Policy
Yale Law School
Linda J. Fisher
Vice President & Chief Sustainability
DuPont Environment & Sustainable
Growth Center
Dod A. Fraser*
Sackett Partners Incorporated
White Plains, NY
B oard of Directors
Kathryn S. Fuller*
Ford Foundation Board of Trustees
David G. Hawkins
Director of the Climate Center
Natural Resources Defense Council
Deborah S. Hechinger
Debbie Hechinger Consulting
Peter R. Kagan
Managing Director
Warburg Pincus, llc
Charles F. Kalmbach*
Chief Executive Officer
DBM, Inc.
Frank E. Loy*
Washington, DC
Michael A. Mantell
Resources Law Group
Peter J. Robertson
Retired Vice Chairman of the Board
Chevron Corporation
Richard L. Schmalensee
John C. Head III Dean and Professor,
Economics & Management
Sloan School of Management
Massachusetts Institute of Technology
Robert N. Stavins
Albert Pratt Professor of Business &
Government and Chair, Environment
& Natural Resources Faculty Group,
John F. Kennedy School of Government, Harvard University
Joseph Stiglitz
Professor of Economics,Business &
International Affairs
Columbia University School of
Mark R. Tercek
President & CEO
The Nature Conservancy
Chair Emeriti
Darius W. Gaskins, Jr.
Norbridge, Inc.
Top row, from left: W. Bowman Cutter, Mohamed T. El-Ashry, Mark R. Tercek, E. Linn Draper, Steven W. Percy, Robert
N. Stavins. Middle row, from left: Charles F. Kalmbach, David G. Hawkins. Front row, from left: Peter J. Robertson,
Lawrence H. Linden, Philip R. Sharp, Vicky A. Bailey, Linda J. Fisher, Daniel C. Esty, Frank E. Loy. Not pictured:
Robert E. Grady
Partner and Managing Director
The Carlyle Group
Michael J. Bean, Trudy Ann Cameron, Preston Chiaro, John M. Deutch, Dod A. Fraser, Kathryn S. Fuller, Deborah S.
Hechinger, Peter R. Kagan, Michael A. Mantell, Richard L. Schmalensee, Joseph Stiglitz
* Member of the Executive
reso u rc es fo r th e fu tu re
S taff
as of september 30, 2008
Philip R. Sharp
Jeff Ferris
Research Assistant
Carolyn Fischer
Senior Fellow
Edward F. Hand
Vice President for Finance Hellen Gelband
and Administration
Project Manager
Lea Harvey
Vice President for Development and Corporate
Daniel Hall
Research Associate
Winston Harrington
Senior Fellow
Mark Cohen
Vice President for Research Evan Herrnstadt
Research Assistant
Joseph E. Aldy
Maura Allaire
Research Assistant
Allen Blackman
Senior Fellow
Josh Blonz
Research Assistant
James W. Boyd
Senior Fellow
Timothy J. Brennan
Senior Fellow
Dallas Burtraw
Senior Fellow
Susie Chung
Research Assistant
Conrad Coleman
Research Associate
Abigail Colson
Research Assistant
Roger M. Cooke
Chauncey Starr Senior
Sandra A. Hoffmann
Ian W.H. Parry
Allen Kneese Chair and
Senior Fellow
Katherine N. Probst
Senior Fellow
Heather Randell
Research Assistant
Elena A. Safirova
Roger A. Sedjo
Senior Fellow
Raymond J. Kopp
Senior Fellow and Director Leonard A. Shabman
of the Climate Policy
Resident Scholar
Jhih-Shyang Shih
Carolyn Kousky
Juha Siikamäki
Alan J. Krupnick
Senior Fellow and Director
Richard Sweeney
of Research
Research Assistant
Ramanan Laxminarayan
Sarah Jo Szambelan
Senior Fellow
Research Assistant
Molly K. Macauley
Shalini Vajjhala
Senior Fellow
Nicholas Magliocca
Margaret Walls
Research Assistant
Senior Fellow
Shawn Magnuson
Gina Waterfield
Research Assistant
Research Assistant
Joe Maher
Susan You
Research Assistant
Research Assistant
Virginia McConnell
Senior Fellow
Sarah Darley
Research Associate
Daniel Morris
Research Assistant
Stanley N. Wellborn,
Director of Public Affairs
Joel Darmstadter
Senior Fellow
Erica Myers
Research Assistant
John Anderson
J. Clarence (Terry) Davies
Senior Fellow
Karen Palmer
Darius Gaskins Senior
Michele Leahy
rff press
Don Reisman, Director
Ellen Davey
finance and
Julie Alleyne
Aris M. Awang
Michael J. Brewer
Christopher B. Clotworthy
Mary Ann Daly
Amanda Gonzales
Griffin LeNoir
David McLaughlin
Nauman Memon
Mara Parrish
Claudia Rios
Priscilla Ugoji
Marilyn M. Voigt
Felicia Day
Rajarshree Panicker
Research Assistant
Adrienne Foerster
Scott D. Hase
Lisa Mihalik
Scott Salyer
April Stanley-Njari
resources for the fu tu re
Virginia N. Kromm
Marilyn S. Alano
Maya Sequiera
Research Assistant
Peter C. Nelson,
Harrison Fell
Angela Blake
Barbara Bush
Anthony Paul
Program Fellow
Richard D. Morgenstern
Senior Fellow
Mike Eber
Research Assistant
Cover photograph: Tashidig
Suspension Bridge, Sikkim, India
(Macduff Everton/GettyImages)
Resources for the Future is an independent, nonpartisan think
tank that, through its social science research, enables policymakers
and stakeholders to make better, more informed decisions
about energy, environmental, natural resource, and public health
issues. Headquartered in Washington, DC, its research scope
comprises initiatives in nations around the world.
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Washington, DC 20036-1400