When Congress last pushed for comprehensive climate legislation a decade ago, much of corporate America was either neutral or hostile.
In a sign of how much corporate attitudes have changed, the Business Roundtable, one of the country’s most prominent business groups, is throwing its support behind broad-based measures to slash greenhouse gas emissions, The Wall Street Journal reports.
In a statement of principles released Wednesday, the Business Roundtable said it “supports a goal of reducing net U.S. GHG emissions by at least 80% from 2005 levels by 2050.” To achieve that, it endorses putting a price on carbon. It didn’t say whether that should be through a carbon tax or a system of tradable emissions permits.
The content of the principles doesn’t break new ground—rather, the significance of the statement is that it shows how business is shifting from a source of resistance to a force for action on climate. The Business Roundtable statement represents the consensus of more than 200 members spanning every sector of the economy, from retail, finance and technology to health care, manufacturing and even oil and gas.
When the group last put out principles on climate, in 2007, it didn’t endorse mandatory measures such as carbon prices because of internal disagreement and warned against policies with “unacceptable” economic costs. Read the full story.