Sen. Barbara Boxer, D-Calif., chairwoman of the Senate Environment and Public Works Committee, has released principles for global warming legislation, which include the creation of a cap-and-trade system that would reduce emissions.
Revenues from the carbon market would do the following:
– provide investment for clean energy technologies and energy efficiency measures;
– assist states, localities and tribes in addressing and adapting to global warming impacts;
– assist workers, businesses and communities, including manufacturing states, in the transition to a clean energy economy;
– support efforts to conserve wildlife and natural systems threatened by global warming; and
– aid in working with the international community, including faith leaders, to provide support to developing nations in responding and adapting to global warming.
According to Boxer, the legislation would provide incentives for emissions reduction around the world and ‘ensure a level global playing field.’
SOURCE: U.S. Senate Committee on Environment and Public Works