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Polluting industries as climate protagonists: cap and trade and the problem of business preferences

Listed author(s):
  • Grumbach Jacob M.

    ()

    (Department of Political Science, University of California, Berkeley, CA, USA)

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    In the US, the failure of climate legislation and the implementation of EPA rules are the subject of intense scholarly and public debate. However, the debate has not investigated – and at times has further obfuscated – the preferences and expected tactics of industry stakeholders. Scholars of management and regulation argue that firms’ profit motives can be aligned with socially beneficial outcomes, but they assume that firms prefer market-based regulation over the status quo. Correspondingly, corporate stakeholders have been portrayed as protagonists in campaigns for climate legislation. In a case study of the cap and trade fight during 2009 and 2010, I find that industry stakeholders primarily mobilized to maintain the status quo, but simultaneously joined the cap and trade coalition in order to favorably shape potentially inevitable climate legislation. The case underlines the importance of deeper investigation of business preferences and provides evidence for theories that prioritize power resources and the structural power of business.

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    Article provided by De Gruyter in its journal Business and Politics.

    Volume (Year): 17 (2015)
    Issue (Month): 4 (December)
    Pages: 633-659

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    Handle: RePEc:bpj:buspol:v:17:y:2015:i:4:p:633-659:n:5
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    1. Michael I. Cragg & Yuyu Zhou & Kevin Gurney & Matthew E. Kahn, 2013. "Carbon Geography: The Political Economy Of Congressional Support For Legislation Intended To Mitigate Greenhouse Gas Production," Economic Inquiry, Western Economic Association International, vol. 51(2), pages 1640-1650, 04.
    2. Robert Boyer, 2005. "From shareholder value to CEO power: The paradox of the 1990s," PSE Working Papers halshs-00590848, HAL.
    3. Robert Boyer, 2005. "From Shareholder Value to CEO Power: the Paradox of the 1990s," Post-Print halshs-00754109, HAL.
    4. Vormedal Irja, 2011. "From Foe to Friend? Business, the Tipping Point and U.S. Climate Politics," Business and Politics, De Gruyter, vol. 13(3), pages 1-31, October.
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