International Fallout from GHG Credits Hits Senate Finance

By Published On: July 10, 2009

There’s a “narrow” set of industries that are exposed to World Trade Organization standards for the developing cap-and-trade market in greenhouse gas credits. The U.S. Senate Finance Committee heard testimony on that issue but took no action during a July 8 hearing. Some expressed worries that federal climate change legislation would affect U.S. companies. The Finance Committee hearing, which was low key, featured Senators’ concern about cross-border impacts of a potential cap-and-trade market. Senators opined that the World Trade Organization would be involved with the cross-border credit fallout from a cap-and-trade market.

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