The Hope Behind the Holes in the Waxman-Markey Climate Bill

Friday was a historic day for the United States with the passage of our first comprehensive climate change bill. While some criticize the American Clean Energy and Security Act (ACES) authored by representatives Henry Waxman (D-CA) and Edward Markey (D-MA) for falling furiously short of what we need, and what President Obama promised during his campaign, all is not lost.

That may sound like twisted logic, but I’m hopeful because even if Congress passes this watered down legislation, I think there will be many areas where the market will step in to pick up the slack.

Regulation is important—and don’t get me wrong, if we fumble on this cap-and-trade bill, we’ll be facing an even greater challenge—but business solutions to climate change need to come from all angles, and there are many factors that influence the market, not just federal policy. And this is where I hold hope.

We’re seeing these market signals in several different aspects of business: insurance, financial markets, energy prices, marketing and corporate social responsibility (CSR) reporting. Here are some examples:… – CLICK HERE to Continue Reading and Comment

Source: http://www.TriplePundit.com:
The Hope Behind the Holes in the Waxman-Markey Climate Bill