Climate change credit

The Climate Stewardship and Innovation Act

The Climate Stewardship and Innovation Act of 2005 (S.1151) was introduced jointly by US Senators John McCain (R-AZ) and Joseph I. Lieberman (D-CT). Beginning in 2010, The Climate Stewardship and Innovation Act would limit (to the amount emitted in the year 2000) the total greenhouse gases emitted by:

* U.S. electricity generation,
* Cars, busses, trains, and other forms of transportation,
* Industry
* Commerce

According to pewclimate.org, these affected sectors represented approximately 85% of the overall U.S. emissions in the year 2000. This bill also would provide for the trading of emission allowances and reductions as Climate Change Credits.

Climate Change Credit Corporation

Allocation of special Emission Permits by the Climate Change Corporation created by the Climate Stewardship and Innovation Act will provide funding for assistance for consumers and industry to fully comply with the act. Permits will be allocated to support the activities of a Climate Change Credit Corporation, a combination public and private agency that will oversee the cap and trade program, provide credit (Climate Change Credits) to participating entities for reductions in the total greenhouse gases made before 2012, and to facilitate transition for industries with competitiveness concerns and fewer options for efficient energy reduction technology. These credits are limited but can be used, bought, or sold.

From http://en.wikipedia.org/