Senator Markey Hails Announcement of China Cap-and-Trade System to Cut Carbon Emissions
Senator is co-author of cap-and-trade legislation that previously passed in the House of Representatives
New York (September 25, 2015) Senator Edward J. Markey (D-Mass.), chair of the Senate Climate Clearinghouse and co-author of the only comprehensive climate legislation to ever pass a chamber of Congress, released the following statement today after media reports China will announce it will launch a national cap-and-trade system to curb greenhouse gas emissions. President Xi Jinping of China will join President Obama today to make the announcement at the White House. This summer, China announced its Intended Nationally Determined Contribution (INDC) for the international climate summit that will occur in Paris at the end of this year. President Obama’s talks with President Xi last November resulted in the first joint U.S.-China climate announcement, including China’s historic commitment to cap carbon emissions.
In 2009, then-Rep. Markey and Rep. Henry Waxman (D-Calif.) co-authored legislation that passed in the House of Representatives that would have established an economy-wide, greenhouse gas cap-and-trade system, similar to the one being announced today by China.
“Whether it is in Boston or Beijing, putting a price on carbon will be a key component to cutting the pollution warming our planet and spurring the deployment of the clean energy technologies. With these announcements from the two largest emitters of carbon pollution on the planet, the frame of a climate agreement that will stand the test of time is emerging. With this start, the nations of the world can come together to build the Eiffel Tower of climate agreements in Paris this December.
“Massachusetts and New England have already proven that we can cut carbon emissions and grow our economy at the same time. The United States and China are technological and manufacturing giants: if the solutions to climate change are built anywhere, it should be in our nation, with our workers and through our innovation. This announcement provides the roadmap to achieve China’s historic commitment to combating climate change and underscores the importance of America's global leadership in the effort to protect people and the planet from the catastrophic impacts of climate change.”