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April 11, 2005

Members of Congress

Re: Venture Capitalists and Investors Support Federal Global Warming Policy

Dear Senator/Representative:

As leaders in the venture capital and investment community we urge the federal government to take immediate steps to reduce U.S. global warming pollution in order to encourage innovation, secure the country's competitiveness in the 21st century global economy, and put us on a path to protecting the Earth's climate.

The venture capital community has created tens of thousands of new companies in the United States. We thrive by supplying capital to the best and most innovative entrepreneurs in the country, who shape the future through technology and business innovations. These entrepreneurs keep the United States competitive in the world market by challenging the established players and business-as-usual practices -- and by seeing opportunity, not threat, in a changing world marketplace.

We believe that to continue to encourage and stimulate the entrepreneurial spirit that makes the U.S. a world economic leader, the United States must set limits on global warming pollution.

The United States should be in the vanguard of the new global market for climate friendly technologies. Our businesses are second to none in developing advanced products when the market conditions reward these investments. A federal limit on global warming pollution, specifically carbon dioxide from energy and manufacturing, is the policy step needed to promote innovation and growth in the clean technology, manufacturing, and energy sectors and keep United States businesses competitive in a carbon-conscious global marketplace.

The United States' lack of policy market signal is compromising the nation's competitiveness, resulting in lost opportunity. Without a signal to reduce global warming pollution, American businesses continue to make long-term capital investments that commit us to ever increasing greenhouse gas emissions while discouraging the development and deployment of competitive new technologies. New buildings, transportation systems, and power and industrial plants are being designed and built today without regard for the need to reduce global warming pollution. Meanwhile we are already seeing German, Japanese, and others' innovation and patents in photovoltaics, auto technology, wind and efficient buildings.

Every year that passes without a U.S. policy commits us to unacceptable economic and environmental risks. These large capital outlays are committing us to a future of unacceptable risks to the American economy from global warming. Every year that passes without a US carbon emission policy increases the difficulty and cost of averting the threats of economic and environmental disruption posed by climate change.

The U.S. produces more global warming emissions than any other nation. The country's emissions of global warming pollution now exceed 7 billion metric tons of CO2 equivalent gases -- a growth of 14% from 1990 levels. Yet, the U.S. has no plan in place to deal with the threats that global climate change pose to the health of the nation's and the world's economy and environment.

The United States has a history of regarding challenge as opportunity, analyzing the facts and encouraging decisive action and deployment of our best minds to the task at hand. We have led the world in invention, and are poised to do it again.

We urge Congress to take swift and strategic action to reduce global warming pollution, encourage innovation in American business, and promote U.S. leadership.

Sincerely,

The Following have electronically signed this alert:

Clifford Adams (New York)
Managing Director, Coady Diemar Partners
Jim Anderson
Foundation Capital
Greer Arthur
G.M. Arthur and Company LLC
Jay Baldwin (California)
Partner, Wind River Capital Partners, LLC
Lisa Bicker (California)
President, Cleantech San Diego
Jonathan Bloch (California)
Partner, Manatt, Phelps & Phillips, LLP
Matt Cheney (California)
Co-Founder & Managing Director, Catalyze
Tom Cole (California)
CEO, Consuming, Inc.
Bud Colligan
Accel Partners
Christine Comaford (California)
Venture Partner, Novus Ventures
Michael Cuddehe (New York)
Principal, Strategic Global Advisors, LLC
Bo Cutter
Warburg Pincus LLC
Tim Dattels (California)
Managing Director, Newbridge Capital
Matt Davis (California)
Mateva Capital, LLC
Rob Day (Massachusetts)
John Dean
Tuputele Ventures
Reid Dennis (California)
Managing Director, Institutional Venture Partners
Mike Dierks (California)
Founder, Lobos Valley Advisors
Mark Donohue
Founding Partner, Expansion Capital Partners, LLC
Ted Driscoll (California)
Partner, Digital Healthcare Lead, Claremont Creek Ventures
Ira Ehrenpreis (California)
General Partner, Technology Partners
Bob Epstein (California)
Co-Founder, Sybase, New Resource Bank, Environmental Entrepreneurs
Chris Eyre (California)
Managing Director, Legacy Venture
Jesse Fink (Connecticut)
Private Investor, Marshall Street Management
Nancy Floyd (California)
Founder and Managing Director, Nth Power
Tod Francis (California)
Founding Partner, Shasta Ventures
Michio Fujimura
Managing Director, ATA Ventures
Greg Gallo (California)
Partner, DLA Piper US LLP
Rob Gifford (Massachusetts)
Principal, AEW Capital Management, LP
Dan Goldman (Massachusetts)
Co-Founder and Managing Partner, Clean Energy Venture Group
Bill Green (California)
Senior Managing Director, Macquarie Capital Funds Inc
Garrett Gruener (California)
Co-Founder and Director, Alta Partners
Maurice Gunderson (California)
Russell Hall (California)
Managing Director, Legacy Venture
Bob Hambrecht (California)
Partner, Allotrope Partners
John Harper (Massachusetts)
Principal, Birch Tree Capital, LLC
Jim Heath (New Mexico)
Founding General Partner, Entegrity Partners, LP
Jill Tate Higgins (California)
General Partner, Lakeside Enterprises
Russell Hirsch
Managing Director, Prospect Venture Partners
Chris Hollenbeck (California)
Chief Financial Officer, Smule, Inc.
David Hornik (California)
August Capital
Wende Hutton
Venture Partner, Canaan Partners
Cathie Johnson
Asset Management Company
Sam Kingsland (California)
Strategic Advisor, Kngine
David Ladd
Mayfield
Nicole Lederer (California)
Chair and Co-Founder, Environmental Entrepreneurs
Tony Lent (New York)
Managing Director, Wolfensohn Fund Management
David Liddle (California)
General Partner, USVP
Paul Maeder (Massachusetts)
Founder & Managing General Partner, Highland Capital Partners
Joe Mandato
Managing Director, De Novo Ventures
Tim McAdam (California)
Technology Crossover Ventures
Charles McDermott (Massachusetts)
Rockport Capital Partners
Jim McDermott (California)
Managing Partner, U.S. Renewables Group
Eliot Merrill (New York)
Principal, The Carlyle Group
Steven Merrill (California)
General Partner, Merco Ventures
George Miller
Peter Morris
General Partner, New Enterprise Associates
Kathy Murphy (California)
Former CFO and Administrative Partner, Trinity Ventures
Gib Myers (California)
Partner Emeritus, Mayfield Fund and Founder/board of the Entrepreneurs Foundation
Patricia Nakache (California)
General Partner, Trinity Ventures
Tim Newell (California)
Director of Financial Products, Tesla
Larry Orr (California)
General Partner, Trinity Ventures
Alex Osadzinski (North Carolina)
Chief Marketing Officer, Relias Learning
Vic Parker (California)
Managing Director, Spectrum Equity
Sunil Paul (California)
Co-Founder, Managing Director, Spring Ventures; Sidecar
Molly Pieroni
Partner, JatoTech Ventures
Ariel Poler
Odeo Inc.
Diana Propper de Callejon (New York)
General Partner, Expansion Capital Partners
Ruthann Quindlen (California)
Institutional Venture Partners
David Roux
Co-Founder and Managing Director, Silver Lake Partners
Alan Salzman (California)
VantagePoint Venture Partners
Stu Schuster (California)
Novus Ventures
Jeanne Sullivan (New York)
Co-chair and Founder, StarVest Partners
Gus Tai (California)
General Partner, Trinity Ventures
Immanuel Thangaraj
Managing Director, Essex Woodlands Health Ventures
Pete Thomas
Managing Director, ATA Ventures
Tucker Twitmyer (Pennsylvania)
Managin Partner, EnerTech Capital
Bill Unger (California)
Partner Emeritus, Mayfield Fund
Sanjay Wagle
Renewable Energy Grants Advisor, U.S. Department of Energy
Jay Watkins
Managing Director, De Novo Ventures
Joy Weiss
President and CEO, Dust Networks
Bob Williams (California)
General Partner, Bay Partners
Alexa Willson (New York)
Managing Director, Private Client Advisor, U.S.Trust, Bank of America Private Wealth Management
Tim Woodward (California)
Managing Director, Nth Power
Marianne Wu (California)
Partner, Mohr, Davidow Ventures
Ron Yara
General Partner, Tallwood Venture Captial

86 members

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