BCSE Comments on Cost Containment Mechanisms in Federal Climate Change Legislation
On August 11, the Council submitted comments to the House Committee on Energy and Commerce and its Subcommittee on Energy and Air Quality regarding their white paper on “Getting the Most Greenhouse Gas Reductions for Our Money." This paper, issued in May 2008, is the latest in a series of Climate Change Legislation Design Papers to identify key issues and engage in a collaborative process with stakeholders to develop a mandatory economy-wide climate change program. This white paper focus was on potential mechanisms for containing costs and creating the most economically efficient policies for reducing greenhouse gas emissions
Council comments highlighted what it believes to be key issues and cost control mechanisms in federal climate change legislation; including the immediate deployment of existing clean energy technologies to avoid future carbon mitigation costs, enacting a strong greenhouse gas offsets policy, and flexibility mechanisms such as multi-year compliance periods and banking of emission allowances. A copy of the Council's letter to Committee Chairman John Dingell and Subcommittee Chairman Rick Boucher is attached.