<html><head><style type="text/css"><!-- DIV {margin:0px;} --></style></head><body><div style="font-family:verdana,helvetica,sans-serif;font-size:10pt"><div style="font-family: verdana,helvetica,sans-serif; font-size: 10pt;"><div style="font-family: times new roman,new york,times,serif; font-size: 12pt;"><div class="Section1"><p style="font-family: verdana,helvetica,sans-serif;" class="MsoNormal"><font size="3"><span style="font-size: 12pt;">Dear Network Participants, </span></font></p><p style="font-family: verdana,helvetica,sans-serif;" class="MsoNormal"><font size="3"><span style="font-size: 12pt;"> </span></font></p><p style="font-family: verdana,helvetica,sans-serif;" class="MsoNormal"><font size="3"><span style="font-size: 12pt;">On July 28<sup>th</sup>, the <a href="http://www.offsetqualitityinitiative.org/">Offset Quality Initiative</a>
(OQI) released a policy white paper offering policymakers practical recommendations
regarding the integration of high quality greenhouse gas offsets into emerging
regulatory systems at the state, regional and federal levels. The paper is
titled “Ensuring Offset Quality: Integrating High Quality GHG Offsets
into North American Cap-and-Trade Policy,” and is now available for
download and distribution. </span></font></p><p style="font-family: verdana,helvetica,sans-serif;" class="MsoNormal"><font size="3"><span style="font-size: 12pt;"> </span></font></p><p class="MsoNormal" style="text-align: center; font-family: verdana,helvetica,sans-serif;" align="center"><font size="4"><span style="font-size: 14pt;">A copy of the
white paper can be downloaded from OQI’s website at <a rel="nofollow" target="_blank" href="http://www.offsetqualityinitiative.org/">www.offsetqualityinitiative.org</a> </span></font></p><p style="font-family: verdana,helvetica,sans-serif;" class="MsoNormal"><font size="3"><span style="font-size: 12pt;"> </span></font></p><font style="font-family: verdana,helvetica,sans-serif;" size="3"><span style="font-size: 12pt;">The Offset Quality Initiative is a coalition of six
leading non-profit organizations—The Climate Trust,
Pew Center
on Global Climate Change, California Climate Action Registry, Environmental
Resources Trust, <a href="http://www.ghginstitute.org/"><span style="font-weight: bold;">Greenhouse Gas Management Institute</span></a>, and The Climate
Group—and was founded in November 2007 to provide leadership on GHG
offset policy and best practices.</span></font><p class="MsoNormal" style="text-align: center; font-family: verdana,helvetica,sans-serif;" align="center"><font size="4"><span style="font-size: 14pt;"> </span></font></p>
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