New York Mayor Michael Bloomberg has proposed a national “pollution pricing” that envisions taxing companies directly for the greenhouse gases they release, AP reports. The announcement came during his keynote speech at the United States Conference of Mayors climate protection summit.

“If you really want to reduce carbon emissions, tax carbon at the source, which would mean at the mine head, at the oil well, whatever,” Bloomberg said.

The money raised could be used to reduce payroll taxes or invest in new environmental technologies, such as wind power and fuel cells, he said.

Bloomberg envisions a fee of $15 for every ton of greenhouse gas companies emit.
In April, New York City officials promised to cut greenhouse gas emissions 30 percent by 2030.