2. Climate Change Policies of the Clinton Administration

Rosenzweig summarizes the attempt made during the Clinton Administration to craft a domestic climate policy and similar efforts in the international climate change negotiations. In the US, the emphasis is on the proposed BTU tax, which was soundly defeated. Although modest, its political and substantive consequences continue to be felt, providing opponents with a roadmap to kill cap-and-trade legislation nearly 20 years later. Rosenzweig describes the Administration’s posture in the international negotiations, which resulted in the ill-fated KP. He elaborates its positions on such key issues as the role of developing countries and the creation of the carbon markets. A review of early carbon market activity and key initiatives which spurred it is also provided.