Jobs and the Climate Stewardship Act: How Curbing Global Warming Can Increase Employment

February 19, 2005

The Climate Stewardship Act, first introduced in the U.S. Senate in 2003 by Senators John McCain of Arizona and Joe Lieberman of Connecticut, and in the House of Representatives in 2004 by Representatives Wayne Gilchrest of Maryland and John Olver of Massachusetts, was reintroduced in both houses of Congress in February 2005. The act would cap and reduce carbon dioxide and five other heat-trapping pollutants emitted by power plants, refineries and other industries. In contrast with the (unsuccessful) voluntary approach to curbing global warming pollution advocated by the Bush administration, the bill calls for using a market-based approach, with emissions caps and emission trading, to cut global warming pollution without hurting the U.S. economy. This study, conducted by Redefining Progress and the Tellus Institute for NRDC, finds that implementing the Climate Stewardship Act would increase overall U.S. employment.