Exxon, BP, Shell back carbon tax plan

EXXONMOBIL, BP and Shell have again publicly backed a US carbon tax proposal to curb emissions, set at $40 per tonne and rising over time. About 40 countries, including most of Europe, China and South Africa, have a price on carbon or a plan to do so.
Exxon, BP, Shell back carbon tax plan Exxon, BP, Shell back carbon tax plan Exxon, BP, Shell back carbon tax plan Exxon, BP, Shell back carbon tax plan Exxon, BP, Shell back carbon tax plan

Haydn Black

Reporter

The companies have announced their support for the Climate Leadership Council, a group of senior Republican figures that in February proposed the tax as part of a "free-market, limited government" response to climate change.
 
The companies announced their backing for the plan alongside other major firms including Unilever, PepsiCo, General Motors and Johnson & Johnson, less than three weeks after President Trump pulled the US out of the 195-nation Paris climate accord
 
The tax would be levied on emissions in order to encourage a shift towards renewable energy sources such as solar and wind.
 
The proceeds from the tax would returned to the American public via carbon dividends, but the plan would also strip the US of all major climate regulations, including the Environmental Protection Agency's authority over CO2 emissions.
 
Greenpeace has criticised the move as a public relations stunt. 
 

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