Finding the Right Balance

EPA granted the right to regulate carbon, April 2007. Congress passes energy legislation, December 2007. Conference of the Parties in Bali, December 2007. …Lieberman-Warner Climate Security Act fails in the Senate, 2008. While it’s clear our nation has come a long way on the journey toward a sustainable future in just over a year, we still have some distance to go. The climate change legislation that recently failed to garner sufficient support in the U.S. Senate did not adequately address some of the critical issues facing our nation’s businesses; but, we are committed to continuing the work to get it right.Understanding that there is no quick-fix solution to this global challenge, we must ensure our country’s economic and environmental sustainability. Given the importance of the issue, we are confident that Congress will keep working to address global climate change. In anticipation of moving forward on this, Business Roundtable believes Congress must address five areas we recently outlined in ourpolicy statement:

• Balance action on climate change with the need for economic sustainability;
• Minimize cost and maximize certainty;
• Ensure federal pre-emption of state law;
• Maintain the international competitiveness of the United States; and
• Mandate revenues generated by carbon credit auctions be used to promote technology that will, in turn, address climate change.

We believe any legislation must promote the reduction of our economy’s carbon footprint through economically sustainable methods by outlining sensible targets and timeframes for reduction of greenhouse gas (GHG) emissions without causing shortages of energy and raw materials, price spikes or economic imbalances. Legislation must also be careful not to place our nation at a competitive disadvantage in the international economy by putting U.S.-based companies in a position where they must compete with rivals across the globe that do not adhere to limits on emissions. We believe technology will also play a critical role in any solution designed to address climate change, and we’re excited about our members’ progress on alternative energy sources such as wind and solar. Any legislation should include realistic estimates of deployment of new energy technologies so sustainability targets can be met and achieved. A cleaner, healthier environment is vital for society and business alike. That’s why Business Roundtable is committed to working to implement a solution that protects both our environment and our economy. After all, working together, there’s nothing we cannot achieve.

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