Senator Stabenow Backs Domestic Market for Carbon Offsets
Last Wednesday, Sen. Debbie Stabenow (D-MI) introduced the Clean Energy Partnership Act (S. 2729), which would create a domestic offsets program within a cap-and-trade bill and provide a number of other financial rewards for agriculture and forest-sector efforts to reduce greenhouse gas emissions or enhance sequestration. The offsets provisions delegate oversight of domestic forestry and agricultural projects to the Department of Agriculture, and provide a pathway for approved offset project types from existing non-federal offset programs to generate federal offset credits during the early years of the cap-and-trade program. The legislation was also sponsored by Sens. Max Baucus (D-MT), Mark Begich (D-AK), Sherrod Brown (D-OH), Tom Harkin (D-IA), and Amy Klobuchar (D-MN).



