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 said plan is actually a significant news and this also is considered as an industry-backed carbon pricing proposal for 2019.
When you wish to assess on the CLC proposal, it is very important that you will understand the intentions, composition and inception of the Climate Leadership Council. CLC is actually an international policy institute which pushes federal prices on carbon, which in fact is made to appeal to industry groups and the conservative policymakers. It is a coalition of corporations that includes gas and oil companies, non-governmental organizations and also some prominent individuals who came together during the summer of 2017 and having a goal in advancing a nationwide fee for 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. All the generated revenues are rebated for American consumers for an equal and a quarterly basis.
When the emission reductions will not be on track, the Emission Assurance Mechanism triggers large emission reductions in taking place. According to the US Department of the Treasury, most American families will be able to get more for carbon dividends rather than having to pay on increased energy cost.
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.
An ideal on how polluters lobby with tax themselves will always be raising questions. An environmental justice group may have problems in backing any legislation of which gas and oil companies put. When the Climate Leadership Council will continue in engaging groups, political dynamics and perception on the proposal may actually 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.