22 Lessons Learned:
Knowing the Primary Purpose of the Climate Leadership Council
The fact is, there’s a coalition of industries and conservative groups have come to unite as the Climate Leadership Council (CLC) that released a carbon pricing proposal which actually is expected to be released in the later years. 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.
If you ever wanted to assess the CLC proposal, you should understand about the intentions, inception and composition of CLC. CLC in fact is considered to be an international policy institute that is pushing for a federal price on carbon, which is made for appealing industry groups and conservative policymakers. This would be a coalition of corporations that includes oil and gas companies, prominent individuals and the non-governmental organizations that came in the summer of 2017 and have a goal of advancing nationwide fees for the carbon pollution.
Below would be key components to the proposal.
Rising 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. Based on the US Department of the Treasury, most of the American families are going to get more in carbon dividends than paying on increased energy cost.
As an exchange on the fee, there are federal regulations on carbon emissions from refineries, power plants and other industrial facilities that are going to be lifted. The regulatory rollback is actually meant in giving assurance on the support from businesses and conversative members on the Congress.
Border Carbon Adjustments
Just like most carbon pricing proposal, it levies a border carbon adjustment fee for energies which carbon-intensive imports on other countries would face based with the carbon content of the own product.
The idea about how polluters lobby to tax themselves would always be raising legitimate questions. The environmental justice group may have issues to back any legislation that the gas and oil companies put forth. If ever the Climate Leadership Council continues to engage groups, perception and political dynamics for the proposal could in fact change.
The industry nowadays now comes around with climate action and policy on the current rate of warming, which in fact is more than 10% of its annual GDP can in fact be wiped out at the end of the century.