U.S. Sen. Elizabeth Dole joined five other senators in co-sponsoring climate change legislation.

Sens. Joseph Lieberman of Connecticut and John Warner of Virginia have worked for several months to draft America's Climate Security Act, a bill introduced today that is designed to lower greenhouse gas emissions, Barb Barrett reports.

The bill's goal is to reduce total U.S. greenhouse-gas emissions by as much as 19% below the 2005 level in the next 13 years, and by as much as 63% below the 2005 level in 2050.

The bill allows companies to save, borrow and trade emission allowances. Companies could earn credits by "inducing" other non-covered businesses such as farms to reduce their greenhouse-gas emissions.

"The solution to this serious problem is not inaction," Dole said in a statement. "We must ensure clean air for future generations, and this is a responsible, market-driven approach that strengthens our economy, competitiveness and security."

Other co-sponsors include Democratic Sens. Tom Harkin of Iowa, Benjamin Cardin of Maryland, Amy Klobuchar of Minnesota, and Republican Sens. Norm Coleman of Minnesota and Susan Collins of Maine.

The legislation is supported by both the National Wildlife Federation and Environmental Defense.