The United States of America are not famous for their climate work, rather the opposite. But how are the new candidates Barack Obama and John McCain thinking within the climate field.

BARACK OBAMA

Reduce Carbon Emissions 80 Percent by 2050

* Cap and Trade: Obama supports implementation of a market-based cap-and-trade system to reduce carbon emissions by the amount scientists say is necessary: 80 percent below 1990 levels by 2050. Obama’s cap-and-trade system will require all pollution credits to be auctioned. A 100 percent auction ensures that all polluters pay for every ton of emissions they release, rather than giving these emission rights away to coal and oil companies. Some of the revenue generated by auctioning allowances will be used to support the development of clean energy, to invest in energy efficiency improvements, and to address transition costs, including helping American workers affected by this economic transition.

* Confront Deforestation and Promote Carbon Sequestration: Obama will develop domestic incentives that reward forest owners, farmers, and ranchers when they plant trees, restore grasslands, or undertake farming practices that capture carbon dioxide from the atmosphere.

JOHN MCCAIN

Reduce Carbon Emissions 60 Percent by 2050

John McCain will establish a market-based system to curb greenhouse gas (GHG) emissions, mobilize innovative technologies, and strengthen the economy. He will work with our international partners to secure our energy future, to create opportunities for American industry, and to leave a better future for our children.

John McCain’s Principles for Climate Policy

• Climate Policy Should Be Built On Scientifically-Sound, Mandatory Emission Reduction Targets And Timetables.
• Climate Policy Should Utilize A Market-Based Cap And Trade System.
• Climate Policy Must Include Mechanisms To Minimize Costs And Work Effectively With Other Markets.
• Climate Policy Must Spur The Development And Deployment Of Advanced Technology.
• Climate Policy Must Facilitate International Efforts To Solve The Problem.

John McCain Proposes A Cap-And-Trade System That Would Set Limits On Greenhouse Gas Emissions While Encouraging The Development Of Low-Cost Compliance Options. A climate cap-and-trade mechanism would set a limit on greenhouse gas emissions and allow entities to buy and sell rights to emit, similar to the successful acid rain trading program of the early 1990s. The key feature of this mechanism is that it allows the market to decide and encourage the lowest-cost compliance options.

A cap-and-trade system harnesses human ingenuity in the pursuit of alternatives to carbon-based fuels. Market participants are allotted total permits equal to the cap on greenhouse gas emissions. If they can invent, improve, or acquire a way to reduce their emissions, they can sell their extra permits for cash. The profit motive will coordinate the efforts of venture capitalists, corporate planners, entrepreneurs, and environmentalists on the common motive of reducing emissions.

Greenhouse Gas Emission Targets And Timetables
2012: Return Emissions To 2005 Levels (18 Percent Above 1990 Levels)
2020: Return Emissions To 1990 Levels (15 Percent Below 2005 Levels)
2030: 22 Percent Below 1990 Levels (34 Percent Below 2005 Levels)
2050: 60 Percent Below 1990 Levels (66 Percent Below 2005 Levels)