What is the Climate Leadership Council
There is actually a coalition of industries and conservative groups that have united to become the Climate Leadership Council (CLC) released carbon pricing proposals which is expected for it to be released later. The proposal in fact had never been introduced before in Congress and this had remained to be seen on who will be the main sponsors. The release of the plan is actually a significant news and that it is considered to be the first industry-backed carbon pricing proposal of the year 2019.
To be able to assess on the CLC proposal, it is essential to consider understanding the composition, intentions and inception of the CLC. Also, CLC is an international policy institute that actually pushes the federal price for carbon, which in fact is made for appealing industry groups and conservative policymakers. This in fact is a coalition on corporations of which includes the gas and oil companies, prominent individuals and non-governmental organizations who came together in the summer of 2017 and also have goals to advance a nationwide fees on carbon pollution.
Below would be key components to the proposal.
Rising the Carbon Fee Gradually
The bill actually impose a $40 on per ton price for carbon dioxide, which then will increase by 5% for every year. In fact, all revenues of which are generated will be rebated to consumers for the equal and quarterly basis.
Emission Assurance for Mechanism
If the emission reductions are not on track, Emission Assurance Mechanism is going to trigger larger emission reductions to actually take place. According to the US Department of the Treasury, most American families are going to get more in carbon dividends than paying in increased energy costs.
As an exchange for a fee, there are in fact some federal regulations on carbon emissions from power plants, refineries and industrial facilities of which will be lifted. A regulatory rollback is in fact meant to provide assurance for support from businesses and from conversative members of Congress.
Border Carbon Adjustments
Like most of the carbon pricing proposal, this levies a border carbon adjustment fee on energies that carbon-intensive imports from other countries are going to face according to the carbon content of the own product.
The idea of polluters that lobby to tax will always raise legitimate questions. An environmental justice group may have problems in backing any legislation of which gas and oil companies put. If ever the Climate Leadership Council continues to engage groups, perception and political dynamics for the proposal could in fact change.
Industries today are now coming around on climate action and policy for the current rate of warming, which actually would be more than 10% for annual GDP could be wiped out at the end of the century.