U.S. Climate Action Partnership Doubles, Calls for Carbon Cap

Environmental Defense welcomed more than a dozen major companies from across the economy this week to the U.S. Climate Action Partnership (USCAP) and its call for Congress to put a firm cap on carbon emissions.

General Motors has become the first automobile manufacturer to join the coalition, potentially breaking the long stalemate over rising emissions from the transportation sector. Along with GM, market leaders including AIG, Alcan, Dow, Deere & Company, Johnson & Johnson, PepsiCo and Shell have joined with environmental groups to double the size of USCAP, creating an unprecedented alliance for the creation of a firm cap to reduce greenhouse gas emissions (GHG). Pioneered by Environmental Defense as a way to efficiently reduce emissions from power plants, cap and trade puts an enforceable limit on emissions and allows companies to buy and sell emissions credits to meet their obligations. The approach will provide an economic incentive for companies to reduce global warming pollution and unleash a wave of private-sector investment in low-carbon technologies. New member companies announced by USCAP today include Alcan, American International Group, Boston Scientific, ConocoPhillips, Deere & Company, Dow Chemical Co., General Motors Corp., Johnson & Johnson, Marsh Inc., PepsiCo, Shell, and Siemens. Also joining the group are the National Wildlife Federation and The Nature Conservancy.

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