Statement of Bob Perciasepe
President, Center for Climate and Energy Solutions

December 19, 2017

On China’s plans to create a market for greenhouse gas emissions:

China’s carbon pricing plan is a welcome sign that Washington’s hostility to climate action is not deterring other countries from following through on their climate commitments. It’s especially encouraging that China is turning to market-based approaches to drive down its emissions.

Europe, California, and others are demonstrating both the benefits of carbon trading in cost-effectively cutting emissions and the importance of getting the rules right. China still must decide important features of its new program, and it’s critical that it be designed and implemented in a way that both ensures market integrity and delivers genuine emission reductions.

Thankfully, even in the absence of federal leadership, carbon pricing continues to advance in the United States as well. California recently extended its cap-and-trade program, New Jersey and Virginia are poised to join the Northeast’s RGGI trading system, and a growing number of companies are using internal carbon pricing to manage their emissions. In the long run, the United States too needs a national carbon pricing system to drive innovation and decarbonize our economy.

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About C2ES: The Center for Climate and Energy Solutions (C2ES) is an independent, nonpartisan, nonprofit organization working to forge practical solutions to climate change. Our mission is to advance strong policy and action to reduce greenhouse gas emissions, promote clean energy, and strengthen resilience to climate impacts. Learn more at www.c2es.org.