I think the Democratic community has a tough choice here. Supporting this bill might be good in that it would ease the spread of cleaner technologies to developing nations, and encourage business here to take forward steps (although these efforts should be revenue-neutral, funded through increased enforcement of current fines and fees for polluters).  The danger, however, is that it allows Hagel and other Republicans to greenwash themselves while at the same time continuing to maintain that sound science is bunk and that polluters have no greater responsibility to society than to be the most efficient money making machines they can. It also allows companies to say, "See, we're doing it!" when much speedier and overarching changes are needed to curtail the carbon we pump into our environment.