see also: carbon offsets (buying a clean conscience) and carbon trading
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effects of climate Policy on carbon-intensive manufacturing industries
As the US Congress addresses domestic climate legislation and the world pursues multilateral climate negotiations, policymakers are particularly concerned about the effects of climate policy on carbon-intensive manufacturing industries such as iron and steel, cement, paper, and chemicals. Many of these industries are already under pressure from foreign competition, particularly in large emerging economies like China, India, and Brazil that are not planning to reduce emissions under the current international climate framework.
US policymakers are looking for ways to avoid putting US industry at a competitive disadvantage lest a decline in industrial emissions at home is simply replaced by increases in emissions abroad. While this would be best achieved through harmonized international climate policy, the differences between countries in levels of economic development, historic emissions, and responsibilities arising from future emissions mean harmonization is still a long way off.
How can the United States maintain a level playing field for carbon-intensive industries during a period of transition, when trading partners are moving at different speeds and adopting a variety of policies to reduce emissions? Can this be done in a way that does not threaten the prospects of broader international agreement down the road and avoids the risk of new trade conflicts? This book evaluates a wide range of policy options, including trade measures on foreign-produced goods (currently included in draft US legislation and under consideration in the European Union).
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