Summary of Kerry-Graham-Lieberman Framework

On Oct. 11, 2009, Senators John Kerry (D-MA) and Lindsey Graham (R-SC) published an op-ed article [1] in The New York Times calling for bipartisan action and outlining a comprehensive climate change and energy independence agreement.  Two months later having built upon the op-ed, Senators Kerry, Graham, and Joe Lieberman (I-CT) released the Framework for Climate Action and Energy Independence in the U.S. Senate [2].  The Framework outlines the principles that will be used to craft comprehensive climate change legislation that creates jobs, protects national security interests, and reduce emissions. 

Pledging to engage Senator colleagues, Senators Kerry, Graham, and Lieberman have been working over the past several months to build consensus within the Senate to pass the legislation, which will include:

• A market-based solution to achieve pollution reduction targets regulated - in the short term in the range of 17 percent and in the long term 80 percent below 2005 levels.  
• Investments to develop and deploy new clean energy technologies, including nuclear energy, renewable energy, clean coal, and energy efficiency.
• Increased domestic production of oil and natural gas onshore and offshore. 
• Transitional support for low- and middle-income families to ease costs and for businesses to ensure compliance and avoid carbon leakage. 
• A mechanism to moderate the price of carbon to prevent market volatility and vigilant carbon market oversight. 
• Domestic and international offsets. 
• A strong, international agreement with real, measurable, verifiable and enforceable actions by all nations, long-term financial assistance to developing countries, and enhanced technology cooperation with intellectual property rights protection.