Global Warming In the News

Environment Massachusetts applauded new legislation to address global warming unveiled today by Representative Ed Markey, Chairman of the House Select Committee on Energy Independence and Global Warming and a senior member of the House Energy and Commerce Committee. The "Investing in Climate Action and Protection Act" (iCAP Act) is a detailed bill that would reduce global warming emissions in line with the latest science while protecting American consumers and building a clean energy economy.

"Global warming is one of our greatest challenges, and this bill is up to the task. By adopting a fair and efficient approach, this bill will achieve greater reductions in global warming pollution and at lower cost to society than other proposals currently being considered. It is smart for the environment, smart for consumers, and smart for our future," said Environment Massachusetts Field Organizer Winston Vaughan.

The iCAP Act's cap-auction-and-trade program would reduce global warming emissions to 2005 levels by 2012, to 20 percent below 2005 levels by 2020, and to 85 percent below 2005 levels by 2050. Last year, the U.N. Intergovernmental Panel on Climate Change warned that if
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we don't act quickly and boldly to reduce our emissions of global warming pollution, the United States and the world risk devastating damage to our environment, natural resources, and economy.

The iCAP Act would begin by auctioning 94 percent of the pollution allowances in 2012 and transition to a 100 percent auction in 2020. The 6 percent of allowances not initially auctioned would be distributed to U.S. industries that are energy-intensive and exposed to international trade competition, such as iron, steel, aluminum, cement, bulk glass, and paper.

"This bill shows that we can tackle global warming and make our lives better at the same time. By mobilizing American ingenuity and resources, we can liberate America from its dependence on fossil fuels, reduce pollution and threats to our health, create new economic opportunities, and bring new life to cities and small towns alike. We applaud Chairman Markey for this visionary bill," said Vaughan.

The iCAP Act would return more than half of the proceeds of the auction to low- and middle-income households to help compensate for any increase in energy costs as a result of the legislation. It would invest the remaining auction proceeds in energy efficiency and other programs that will reduce the costs of the policy and in clean renewable energy, like wind and solar power, creating jobs and spurring the transition to a clean energy economy.

In addition to its cap-auction-and-trade program, the iCAP Act also would establish performance standards for power plants, which are the largest source of U.S. global warming emissions.