The U.S. joined 194 signatories under the Paris Agreement committing to limit the increase in global average temperature to well below 2 °C above pre-industrial levels. In the absence of federal climate leadership, the U.S. cannot solely rely upon the actions of cities and states, corporations must also pledge to mitigate emissions in order to meet our target under the Paris Agreement.
More than 760 business and investors have called on President Trump to support the Paris pledge. This corporate resolve must be harnessed further in an effort to keep climate mitigation efforts moving towards the U.S. target. One effort is to form a U.S. Carbon Club where corporations pledge to purchase a portion of the reductions needed to achieve the Paris emissions target. This firm commitment would catalyze climate-friendly projects across the country to deliver real, verifiable, and permanent reductions. These registered carbon credits would be delivered to Carbon Club members in accordance to their pledge in return for payment. Members could retire the credits to offset their own internal carbon footprint or bank them.
According to the World Resources Institute, these clubs “combine ambitious vision, clear criteria for membership and concrete activities that lead to significant economic benefits to club members.”
Trump’s Decision to Withdraw from the Paris Agreement | June 5, 2017
We Can Meet the U.S. Paris Commitment without Federal Support | February 8, 2017
Carbon Market Clubs and the New Paris Regime | July 2016
Carbon Pricing: The Paris Agreement’s Key Ingredient | April 2016
Creating a Club of Carbon Markets: Implications of the Trade System | August 2015
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