Today on Earth Day, three Congressional leaders on climate and energy issues laid out principles for any effective legislative solution to the challenge of global warming. Chairman Henry A. Waxman, Chairman Ed Markey and Rep. Jay Inslee released “Principles for Global Warming Legislation,” which are designed to provide a framework for Congress as it produces legislation to establish an economy-wide mandatory program to cut global warming emissions. Reps. Waxman, Markey, and Inslee are inviting their colleagues to join them in supporting these principles and conveying their support to Speaker Nancy Pelosi, who has made enacting legislation to address global warming a top priority for Congress.

“The dangers of global warming are too large to ignore,” said Chairman Waxman. “We must listen to the science and start making major reductions in CO₂ emissions. Our principles lay out a just and effective approach to fight global warming and build a clean energy economy.”

“These are legislative principles, and they are planetary principles as well,” said Chairman Markey. “Any solution to global warming must cut pollution, help people, and encourage profits from a clean energy economy. These climate tenets give Congress a roadmap for an economy-wide solution to our climate challenge.”

“Last week, the president outlined a can’t-do policy for a can-do people,” said Rep. Inslee. “Our principles lay the groundwork for a bold climate policy that is consistent with our nation’s need for aggressive emissions reductions and our technological capabilities.”

The principles establish a framework for global warming legislation that will avoid the most catastrophic levels of global warming and assist those harmed by the warming that is unavoidable, while strengthening our economy.

The principles recognize four key goals for global warming legislation:

1. Reduce emissions to avoid dangerous global warming;
2. Transition America to a clean energy economy;
3. Recognize and minimize any economic impacts from global warming legislation; and
4. Aid communities and ecosystems vulnerable to harm from global warming.

The principles include the following elements: strong science-based targets for near-term and long-term emissions reductions; auctioning emissions allowances rather than giving them to polluting industries; investing auction revenues in clean energy technologies; returning auction proceeds to consumers, workers, and communities to offset any economic impacts; and dedicating a portion of auction proceeds to help states, communities, vulnerable developing countries, and ecosystems address harm from the degree of global warming that is now unavoidable.

Chairman Waxman is the Chairman of the House Oversight and Government Reform Committee and a senior member of the House Energy and Commerce Committee. Chairman Markey is the Chairman of the House Select Committee on Energy Independence and Global Warming and a senior member of the House Energy and Commerce Committee. Rep. Inslee is a member of the House Energy and Commerce Committee and a senior member of the Select Committee on Energy Independence and Global Warming.