CEO Climate Dialogue Statement on the FAIR Transition and Competition Act of 2021
July 19, 2021
Washington — The CEO Climate Dialogue — a broad-based coalition of 27 leading businesses and institutions representing sectors across the U.S. economy — oil and gas, utilities, agriculture and food, automotive, chemicals, manufacturing, financial services, and environmental advocacy — released the following statement in response to the introduction of the FAIR Transition and Competition Act of 2021 introduced by Sen. Coons and Rep. Peters today.
“Climate change is a global issue, and policies that create a level global playing field—and ensure that emissions reductions in one country aren’t erased by increases elsewhere—are critical. On a level playing field an economy-wide price on carbon could seize an opportunity to harness market forces to unleash American innovation to reduce emissions, create clean energy jobs and usher in a new, prosperous economic era. We commend Sen. Coons and Rep. Peters for advancing the discussion on a key component of a carbon pricing framework, and look forward to evaluating this and other proposals as part of an effort to establish a comprehensive, market-based, economy-wide approach for emissions reductions.”
The bill would establish a border carbon adjustment on carbon-intensive imports to account for the cost incurred by U.S. businesses to comply with laws and regulations limiting greenhouse gas emissions. To learn more about the bill, click here. To read the press release, click here.