Carbon Pricing

The 223^rd General Assembly (June 2018) determined that support of carbon fee and dividend policies (CFD) is a just and effective way to avert the worst effects of climate change. CFD will rapidly reduce greenhouse gas emissions, and transition us to a clean energy future.   Overture 08-12 On Support for Carbon Pricing

What is Carbon Fee and Dividend? How does it work?

     
Carbon Fee

• An increasing fee (tax) is collected on every ton of CO₂ generated from fossil fuels.
• As these fuels become more expensive, consumers and business choose cheaper, cleaner energy sources.

Carbon Dividend

• All revenue is rebated  as  a monthly cash payment to all Americans to offset increased energy costs.
• The poorest two thirds of households will receive more in dividends than they will pay in higher energy costs and the wealthiest ⅓ (who are responsible for most of the emissions) will pay more.

A Border Carbon Adjustment provides a global solution

• Places a tariff based on their carbon pollution content.
• Protects U.S. manufacturers as they receive refunds on their exported goods to offset their increased energy costs.
• Incentivizes all U.S. trading partners to adopt similar policies

How can CFD or carbon pricing help climate change?

•  EFFECTIVE: Reduces emissions 40% by 2030,90% by 2050
•  GOOD FOR PEOPLE: Reduces harmful pollution in the air we breathe which improves health and saves lives. – Monthly dividends put cash  in peoples’ pockets, protect livelihoods, and spur clean energy choices. Especially favorable to poorest two thirds of U.S, households most affected by climate change
• GOOD FOR THE ECONOMY: This policy will create 2.1 million additional jobs over the next 10 years
• BIPARTISAN: Republicans and Democrats are working together on this solution. Republicans support a market-based solution to climate change and Democrats consider this an effective climate solution
• Fulfills our calling: This approach offers a compassionate and just way to fulfill our call to be faithful stewards of God’s creation.

What can we do as PCUSA members, congregations or judicatories?

• •  Learn more about CFD so you can become better advocates. ())
  •  Urge your members of Congress to support CFD such as the bipartisan Energy Innovation and Carbon Dividend Act HR 2307 )
  •  Enlist others (neighbors, friends, other denominations, environmental groups, etc.) to advocate for this approach.
  • Join Presbyterians for Carbon Dividends (P4CD)

For more information contact: Linda Racine

For more information, refer to other blog posts on carbon pricing:

• • JANUARY 2020: Ten Carbon Pricing Bills Now Before Congress
  • Presbyterian advocacy for carbon pricing gains wide support
  • In Support of the Energy Innovation and Carbon Dividend Act
  • The Real Deal: A Carbon Bill Arrives
  • General Assembly Policy on Carbon Pricing
  • New Environmental Policies Passed by the General Assembly
  • View and then share this overview presentation recorded by Presbyterian ruling elder Bill Bray: Presentation to Westminster PC