In a historic step, the Business Roundtable recently called for a national climate strategy centered on a carbon price. In doing so, it undercut a powerful argument against climate action: that it will harm the economy. On the contrary, the roundtable’s appeal — coming from the backbone of American business — affirms that curbing carbon emissions will only strengthen the recovery and cement U.S. economic leadership.
What the roundtable’s CEOs understand is that climate change is not just a challenge; it’s an opportunity. In order to stay atop the global economy, America must win the race to pioneer the clean technologies of the future. But to do so, businesses need the right market signals — and federal rules of the road to ensure that jobs and emissions don’t just migrate overseas.
The policy prescription that fits this bill is called “carbon dividends.” It works by replacing onerous carbon regulations with an economy-wide price on carbon that extends to foreign goods imported into the U.S. This would offer our entrepreneurs a level playing field, and the predictability they need to pioneer new, clean fuels and technologies.
There’s no question that Utah would gain from this solution. Right now, our farmers, manufacturers, miners and oil and gas producers are forced to compete against foreign producers with fewer pollution controls and higher emissions. The carbon dividends plan would turn the tables by charging these foreign businesses for their emissions when they sell into the U.S. market. With this strategy, we can reward our manufacturers while encouraging the return of important supply chains back to the U.S.
America’s top business leaders have spoken, and they are unanimous: Well-designed climate policy isn’t just environmentally responsible, it’s good business. Let’s listen to them.
Dallin Koecher, Executive Director, Heber Chamber of Commerce
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