The Climate Leadership Council has drafted what they call a “conservative climate solution”, a plan to combat global warming by taxing greenhouse gas emissions. Taxpayers would receive money through a “climate dividend”. Exxon Mobil, BP, Royal Dutch Shell and Total S.A. are set to announce support of the plan today, emphasizing the advantages of a market-driven approach over established regulations.
“If a sufficiently high carbon tax were imposed, it could accomplish a lot more for fighting climate change than liability suits,” Michael B. Gerrard, the director of the Sabin Center for Climate Change Law at Columbia Law School, argues.
The plan also protects companies that emit carbon from lawsuits concerning their contribution to climate change. Surprisingly, environmental organizations such as the Nature Conservancy and the World Resources Institute are on board for the plan as well.
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