Over a dozen major companies from across the economy have joined the U.S. Climate Action Partnership and its call for Congress to put a firm cap on carbon emissions.
General Motors is the first automobile manufacturer to join the coalition, potentially breaking the long stalemate over rising emissions from the transportation sector.
Along with GM, new member companies include Alcan, American International Group, Boston Scientific, ConocoPhillips, Deere & Company, Dow Chemical Co., Johnson & Johnson, Marsh Inc., PepsiCo, Shell, and Siemens. Also joining the group are the National Wildlife Federation and The Nature Conservancy, creating an unprecedented alliance for the creation of a firm cap to reduce greenhouse gas emissions.
Launched in January, USCAP is asking Congress to adopt a mandatory, comprehensive greenhouse gas cap and trade system that reduces emissions by 60-80% from current levels by 2050.
Cap and Trade puts an enforceable limit on emissions and allows companies to buy and sell emissions credits to meet their obligations. The approach should provide an economic incentive for companies to reduce global warming pollution and unleash a wave of private-sector investment in low-carbon technologies.
Loading...