A new group of industry heavyweights, including oil majors Total, ExxonMobil, Royal Dutch Shell and BP, have voiced their support for a Republican-led carbon tax and dividend plan. Individual founding members include, Michael Bloomberg, Stephen Hawking and Steven Chu.

The Climate Leadership Council, formed earlier this year to promote a carbon tax as the most effective climate solution, announced its new coalition of “Founding Members” today.

Supporters include companies like Johnson & Johnson and General Motors and NGOs like the Nature Conservancy.

The plan is made up of four parts. As Bloomberg writes:

>> A carbon tax on fossil-fuel combustion lets energy prices reflect the damage done to the climate from carbon dioxide emissions.

>> Money raised by the levy is refunded monthly to taxpayers—turning distant climate benefits into immediate cash.

>> A border tax on goods from countries without a carbon tax ensures that U.S. companies remain competitive.

>> Finally, the U.S. safely rolls back climate regulations.

The council presented its plan, coauthored by several GOP senior statesmen, to Trump’s economic adviser Gary Cohn in February.

Source: https://www.ecowatch.com/climate-leadership-council-carbon-tax-2444996757.html/