03/13/2009 05:12 am ET | Updated May 25, 2011

AIG Shamed Out Of Lobbying For Carbon Legislation

American International Group has left the U.S. Climate Action Partnership following queries from U.S. lawmakers about why the firm was funneling taxpayer money into USCAP - the organization lobbying Congress to pass Cap-and-trade legislation, Dow Jones reports.

USCAP recently called for a cap-and-trade system, a 42 percent emissions reduction below 2005 levels by 2050, limits on emissions from petroleum products and natural gas, and a carbon market board to examine offsets and contain costs.