Climate. The Bush administration's approach to climate change.

A s a signatory to the United Nations Framework Convention on Climate Change (UNFCCC), the United States shares with many countries its ultimate objective: stabilization of greenhouse gas concentrations in the atmosphere at a level that prevents dangerous interference with the climate system. Meeting this UNFCCC objective will require a long-term commitment and international collaboration. President Bush's policy on climate change harnesses the power of markets and technological innovation, maintains economic growth, and encourages global participation. Although climate change is a complex and long-term challenge, the Bush administration recognizes that there are cost-effective steps we can take now. Near-Term Policies and Measures In 2002, President Bush set a national goal to reduce the greenhouse gas intensity (1) of the U.S. economy by 18% by 2012. This goal sets America on a path to slow the growth in greenhouse gas emissions and— as the science justifies and the technology allows—to stop and reverse that growth as needed to meet the UNFCCC goal (2). Our approach focuses on reducing emissions while sustaining the economic growth needed to finance investment in new, clean energy technologies. The administration estimates that this commitment will achieve about 100 million metric tons of carbon equivalent (MMTCe) of reduced emissions in 2012, with more than 500 MMTCe in cumulative savings over the decade (3). To this end, the administration has developed an array of policy measures, including financial incentives and voluntary programs. For example, our Climate VISION (4), Climate Leaders (5), and SmartWay Transport Partnership (6) programs work with industry for voluntary reduction of emissions. The Department of Agriculture is using its conservation programs to provide an incentive for actions that increase carbon sequestration (7). We also are pursuing many energy supply technologies with comparatively low or zero CO 2 emissions profiles, such as solar, wind, geothermal, bioenergy, and combined heat and power. The president has proposed more than $4 billion in tax credits as incentives for these and other energy efficient technologies over the next 5 years (3). Last year, the Bush administration increased fuel economy standards for new light trucks and sport utility vehicles by 1.5 miles per gallon over the next three model years, leading to the estimated avoidance of 9.4 MMTCe of emissions (8). While acting to slow the pace of greenhouse gas emissions in the near term, the United States is laying a strong scientific and technological foundation to reduce uncertainties , to …