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                    Tuesday, July 6, 1999

                     A Daily News Summary Covering
               Global Climate Change and Related Issues
 

             Group Says EDF Could Profit From Senate Bill

     A recent report from the Washington, D.C.-based Nonprofit
     Accountability Project (NAP) claims that the Environmental Defense
     Fund (EDF) could actually profit from the passage of the Senate's
     Voluntary Early Action bill (S. 547), which would provide credits to
     companies engaged in activities designed to reduce emissions of
     greenhouse gases.

     The report says that the Environmental Resources Trust (ERT) -- a
     group created, insured by and closely affiliated with EDF -- would
     validate and manage "early action" credits that would be created
     under the bill.  Three senior EDF staff members are reportedly on
     the board of the ERT.

     The report also notes that the chairman of the ERT is global warming
     treaty opponent and lobbyist C. Boyden Gray, a former chief counsel
     to President George Bush.  Gray also lobbies for the New England
     Electric Systems, which could stand to benefit from early action
     credits granted under the Senate bill.

     Finally, NAP points out that some EDF trustees are financially tied
     to companies that could benefit from early action credits, including
     Frank Taplin, who owns stock in his family's North American Coal
     Company.  Contact: NAG, phone 202-333-1855, e-mail npap@erols.com.

     (NPAP RELEASE: 6/29)