'Direct Carbon Pricing' Better Than 'Cap and Trade'

For Immediate Release

Contact: 

James Handley, PDA Stop Global Warming/Environmental IOT--science queries
Jashand@juno.com, 202 546 5692

Tim Carpenter, PDA National Director--political queries
Tim@pdamerica.org, (413)-320-2015

'Direct Carbon Pricing' Better Than 'Cap and Trade'

Progressive Democrats of America Endorses Direct Carbon Pricing with Revenue Recycling as Preferred Mechanism to Combat Global Climate Change

WASHINGTON - On October 21, Progressive Democrats of America finalized a months-long process with their endorsement of direct carbon pricing with revenue recycling as the preferred method for reducing carbon dioxide in the Earth’s atmosphere. Read the statement here.

The Stop Global Warming/Environmental Issues Organizing Team, led by Dave Massen, has been sifting through different legislative proposals in the House and Senate since late last year.   

“When
we began the process, individual team members supported several
different mechanisms for reducing CO2,” said Massen, who originally
leaned toward cap and trade. “But in view of the recent economic
meltdown, we became concerned that even with some proposed new
regulations, a large market for trading carbon derivatives would also
be vulnerable to a collapse with global repercussions, especially since
hard-to-verify offsets are likely to be part of any trading scheme.
Additionally, it seemed that paying Wall Street traders would add
unnecessarily to the costs of reducing carbon.”

Cap and trade has been implemented in Europe and has so far failed to
meet the necessary targets because of offsets, free allowances and
trading. Sweden and British Columbia have implemented direct carbon
pricing (upstream carbon fees) and are making good headway toward
meeting targets while showing strong economic growth.

The endorsement comes just days before the October 24 International Day of Climate Action, sponsored by 350.org. The Intergovernmental Panel on Climate Change (IPCC), under the Kyoto Protocol of the United Nations Framework Convention on Climate Change
(UNFCCC or FCCC), pointed to 450 parts per million as the safe upper
limit of carbon dioxide concentration in the atmosphere just two years
ago. More recent science
noting the rapid spread of global warming effects, indicates that 350
ppm is now the threshold of stability to avert catastrophic climate
change. On October 24, people around the world will join together in
events and actions to raise the public’s awareness.

PDA calls on its members to contact President Obama
to lead the world in a discussion on quickly achieving 350 ppm through
the implementation of direct carbon pricing with revenue recycling,
when he attends the Copenhagen meeting this December. Based on the
performance of already implemented cap-and-trade and carbon-pricing
models it is clear that the latter is easier to implement and more
effective than the former.

PDA has
been working in alliance with like-minded organizations to inform the
debate in Congress on alternatives to cap and trade. The groups include
Price Carbon Campaign, Climate Crisis Coalition, Carbon Tax Center, WeAct for Environmental Justice (Harlem), Friends of the Earth, Friends' Committee on National Legislation, Climate Policy Center / Clean Air-Cool Planet, CLEAN Network and Citizens Climate Lobby.

Other environmental groups embraced cap and trade long before the very flawed ACESA
(Waxman-Markey bill HR 2454) was passed by a narrow margin (219–212) in
the House in late June. PDA hopes to convince those groups to
reevaluate cap and trade and join them in supporting direct carbon
pricing with revenue recycling before the Senate considers the companion bill offered by Senators Kerry and Boxer.

PDA is currently considering endorsing Rep. John Larson’s (D-CT) climate bill and eagerly awaits the introduction of Sen. Maria Cantwell’s (D-WA) bill. Cantwell is expected to introduce legislation superior to the current cap-and-trade bills.

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Progressive Democrats of America is a grassroots PAC that works both inside the Democratic Party and outside in movements for peace and justice. Our goal: Elect a permanent, progressive majority in 2008. PDA's advisory board includes seven members of Congress and activist leaders such as Tom Hayden, Medea Benjamin, Thom Hartmann and Rev. Lennox Yearwood. More info:http://pdamerica.org

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