Climate Stewardship Act of 2005

Bill: 109-s-342
Sponsor: Sen. McCain, John [R-AZ]
Introduced: 2005-02-10 in the Senate
Policy area: Environmental Protection
Subjects: Administrative procedure
Agricultural education
Agricultural extension work
Agricultural pollution
Agricultural subsidies
Agriculture and Food
Air pollution control
Alternative energy sources
Atmosphere
Business intelligence
Carbon cycle
Carbon dioxide
Climate change and greenhouse gases
Coal
Commerce
Congress
Congressional reporting requirements
Cost accounting
Data banks
Department of Commerce
Developing countries
Economics and Public Finance
Education
Electric power production
Emissions trading
Energy
Energy conservation
Energy efficiency
Environmental assessment
Environmental economics
Environmental law enforcement
Environmental monitoring
Environmental research
Environmental technology
Farm lands
Farmers
Federal aid to air pollution control
Federal aid to education
Federal aid to research
Finance and Financial Sector
Fines (Penalties)
Fluorocarbons
Foreign Trade and International Finance
Fuel consumption
Government Operations and Politics
Government paperwork
Government publications
Governmental investigations
Higher education
Housing and Community Development
Hydrocarbons
International Affairs
International competitiveness
International environmental cooperation
International law
Inventories
Laboratories
Law
Manufacturing industries
Mercury
Motor vehicle pollution control
National Science Foundation
Natural gas
Nitrogen oxides
Nonprofit organizations
Ozone layer depletion
Petroleum industry
Pollution measurement
Poverty
Public Lands and Natural Resources
Remote sensing
Research grants
Revolving funds
Scholarships
Science, Technology, Communications
Social Welfare
Space activities
Standards
Students
Sulphur
Sulphur dioxide
Technological innovations
Technology transfer
Transboundary pollution
Transportation and Public Works
Wind power

Summary:
action_date: 2005-02-10
text: 
Climate Stewardship Act of 2005 - Expands Federal climate change research initiatives by: (1) establishing a graduate fellowship program; (2) requiring a study of technology transfer barriers, best practices, and outcomes; (3) requiring a report on the effects of the Kyoto Protocol absent participation by the United States; (4) creating a grant program for research in identified priority areas; (5) instituting research programs on potential abrupt climate change and greenhouse gas (GHG) related standards, measurement technologies, and processes; (6) requiring research on the impact of climate change on low-income populations; (7) authorizing a program to promote the use by small manufacturers of GHG-reducing technologies; and (8) establishing a Climate Change Education and Outreach Initiative Program for agriculture.
 
Requires the Administrator of the Environmental Protection Agency (Administrator) to establish a National Greenhouse Gas Database consisting of: (1) an inventory of GHG emissions by covered entities (specified entities that emit more than 10,000 metric tons of GHGs per year); and (2) a registry of GHG emission reductions and increased sequestration, applicable to both covered and noncovered entities.
 
Establishes a program for the market-driven reduction of GHGs by covered entities through the use of tradeable emissions allowances. Requires covered entities, beginning in 2010, to submit to the Administrator one tradeable allowance for every metric ton of GHGs emitted. Allows tradeable allowances to be sold, exchanged, purchased, retired, or otherwise used as authorized by this Act.
 
Establishes the Climate Change Credit Corporation (CCCC) to receive, manage, buy, and sell tradeable allowances. 
 
Directs the Administrator to make allocations of allowances to covered sectors and entities, and to the CCCC, providing initial allocations for early action and accelerated participation.
 
Imposes civil penalties on covered entities that fail to submit allowances.


Legislative actions:
action_date: 2005-02-10
text: Read twice and referred to the Committee on Environment and Public Works.
action_date: 2005-02-10
text: Sponsor introductory remarks on measure. (CR S1263-1267)
action_date: 2005-02-10
text: Introduced in Senate