Two former CEOs and the former Chief Risk Officer of Goldman Sachs say that carbon pricing could help achieve comprehensive tax reform that boosts U.S. competitiveness and job growth, according to a statement submitted to the record of the House Ways and Means Committee last night.
The president’s ill-conceived decision strengthens the resolve of the Partnership for Responsible Growth and others committed to adoption of a carbon fee. We will continue to make our case on Capitol Hill and within the business community. As Americans deal with rising coastal waters, droughts, superstorms, forest fires, insect-borne viruses, and other climate-related threats and as they see other economies around the world adapting, they will want their elected leaders to move forward rather than fall behind.
I’m a Wall Street risk manager. As an employee, a partner and, for four years, the risk manager at Goldman Sachs, I served many chairmen, including Bob Rubin, Hank Paulson and Lloyd Blankfein, who leads the firm today. Every one of them has always understood that managing risk is vital to the firm’s financial success and always a priority.