Cap and trade is so much more efficient. It allocates fossil fuels to the places where replacing it would be most expensive, without central planning.

And slowly raising the price on a smooth forward looking schedule lets businesses make rational choices about budgeting for that or for migrating to greener options.

Companies are excellent at adapting to acheive their best interests, to any predictable continuous (as apposed to discontinuous) economic change. Especially when it is a market based change, as that creates a level playing field.