The International Emissions Trading Association held this forum in Washington, DC on 26-28 September 2007 to discuss recent developments in the greenhouse gas market. NERA Senior Vice President and Environment Group Head Dr. David Harrison participated in a panel discussion on the allocation of emissions allowances. His presentation, "Allocation in a Carbon Cap-and-Trade Program: The Realities of Policy Choices," examined the complexities of policy choice in the context of a program that is sufficiently simple and transparent. Dr. Harrison described the traditional allocation approach as illustrated in the European Union Emissions Trading Scheme (EU ETS) as well as emerging allocation issues in US proposals and post-2012 EU ETS. He was joined on the panel by representatives of E.On, Enel, Fortis, Holcim, Norsk Hydro, and American Electric Power.