A coalition of businesses and environmental groups on Monday called for federal legislation to limit emissions of carbon dioxide and other greenhouse gases. In a letter to President Bush a day before his State of the Union Address, the US Climate Action Partnership (USCAP) advocated a "cap and trade" system, in which companies whose emissions exceed mandatory limits could buy credits from companies that produce less pollution. "This approach will ensure emission reduction targets will be met while simultaneously ... stimulating investment and innovation in the technologies that will be necessary to achieve our environmental goal," USCAP wrote in A Call for Action, a 16-page report released by the group Monday. Specifically, USCAP recommended that Congress set short-term and long-term targets for cutting emissions, ranging from a 10 percent reduction within 10 years to as much as 80 percent by 2050.

Scientific research suggests that man-made greenhouse gases contribute to global warming. USCAP's 14 members include large corporations such as Alcoa, BP America, DuPont and General Electric as well as the Natural Resources Defense Council, the Pew Center on Global Climate Change and the World Resources Institute [advocacy websites]. Its report is the culmination of a year-long effort. White House press secretary Tony Snow responded to the USCAP proposal  during his daily briefing, noting that although Bush opposes mandatory CO2 limits, he will discuss alternatives to fossil fuels in his address to Congress on Tuesday. AP has more. C-SPAN has recorded video of the USCAP press conference.