NERA Senior Vice President and Environment Group Head Dr. David Harrison participated in a panel on emissions trading at this ALI-ABA course of study, held in Washington, DC on 7-9 November 2007. The course faculty included major legal practitioners, public officials, and outside experts involved in air emissions and climate change law and policy. Representative Jay Inslee of Washington delivered the keynote address. Dr. Harrison's presentation, "Emissions Trading: Background, Prior Programs, and Implications for a US Carbon Cap-and-Trade Program," provided an overview of emissions trading and cap-and-trade programs and how experience provides lessons for a US greenhouse gas trading program. He discussed the fundamentals of the European Union Emissions Trading Scheme (EU ETS) and assessed the key design issues for a US carbon cap-and-trade program, drawing on his experience with prior US programs and with the EU ETS. Dr. Harrison also provided an overview of the NERA Carbon Financial Impacts Model, which NERA has used to assist companies and trade associations in various sectors (including electricity, oil refining, cement, and pulp and paper) to assess the financial impacts of alternative cap-and-trade programs.