Calling for new Green targets and policies

Calling for new Green targets and policies



Feb 2007 - Climate change 
is "an urgent problem that requires global action," according 
to a joint statement issued this week by the leaders of more 
than 90 major international corporations and organizations, 
including Citigroup, General Electric, Rolls Royce, Volvo and 
the World Council of Churches. 
The statement calls on governments to set new targets for 
reducing greenhouse gas emissions and enact bold policies to 
increase energy efficiency. The signatories recommend the 
world set a price on emissions of carbon dioxide, the leading 
greenhouse gas, and cooperate on a new international agreement 
to replace the Kyoto Protocol. 
"Cost-efficient technologies exist today, and others could be 
developed and deployed, to improve energy efficiency and to 
help reduce emissions of CO2 and other greenhouse gases in 
major sectors of the global economy," the statement said. 
"Research indicates that heading off the very dangerous risks 
associated with doubling pre-industrial atmospheric 
concentrations of CO2, while an immense challenge, can be 
achieved at a reasonable cost. 
The statement is the outcome of discussions held by 
participants of the Global Roundtable on Climate Change, a 
project started in 2004 by The Earth Institute at Columbia 
University. 
The signatories say the time to act to slow global warming is 
now. 
"Leaders from key economic sectors and regions of the world 
have reached a consensus on the path forward to reduce 
human-made climate change," said Jeffrey Sachs, chair of the 
roundtable and director of The Earth Institute. "This 
initiative points the way to an urgently needed global 
framework for action." 
The statement comes on the heels of a call by 10 leading U.S. 
businesses for mandatory greenhouse gas emission reductions 
and reflects a growing desire by many in the business 
community for action on climate change. 
"Of course, addressing climate change involves risks and 
costs. But much greater is the risk of failing to act," said 
Alain Belda, chairman and CEO of Alcoa, the world's leading 
producer of aluminum. "I am convinced that we can build a 
global plan of action on climate change in ways that create 
more economic opportunities than risks." 
"Global businesses are assuming their just place as catalysts 
for action on climate change. But action by business alone is 
not enough," added Jeffrey Immelt, chairman and CEO of General 
Electric. "While we believe that applying technology against 
problems will create positive business opportunities that can 
result in positive change, national, state and local 
governments, academia and other non-governmental organizations 
must step forward with equal force." 
The signatories contend that their ability to agree upon the 
statement - despite diverse views and interests - demonstrates 
the possibility of developing a global consensus on a 
positive, proactive approach to meeting the challenge of 
global climate change. 
Representatives of the global insurance industry also endorsed 
the statement, citing climate change as a growing risk to 
business and society. 
Clement Booth, executive board member of insurance giant 
Allianz SE, said the his company already sees signs that 
climate change is "serious emerging risk." 
The statement is in part due to the work of Jeffrey Sachs, 
director of The Earth Institute at Columbia University. 
"We expect it to remain a top-tier issue for the insurance 
industry for many decades to come," Booth said. "I believe it 
is our responsibility to address and tackle this risk, making 
homes and businesses safer and more secure for our clients." 
Senator Olympia Snowe, a Maine Republican, praised the 
statement and said she will present it to Congress as a 
possible point of action on curbing the country's greenhouse 
gas emissions. 
Snowe called the statement "a vital tool to help all nations 
shape sound public climate change policy." 
"As a participant in the Roundtable, I am acting as a conduit 
for getting the Joint Statement before the U.S. Congress to 
assist it in coalescing around and adopting scientifically 
informed and cost effective targets to reduce U.S. greenhouse 
gas emissions," Snowe added. "The U.S. must engage with a 
significant level of commitment so that the world's largest 
emerging economies will participate in adopting a global 
strategy." 
The roundtable's full statement can be found here. 
Signatories include Air France, American Electric Power, 
Bayer, China Renewable Energy Industry Association, 
Electricity Generating Authority of Thailand, ENDESA, Eni, 
Eskom, FPL Group, General Electric, Iberdrola, ING, Interface, 
Marsh & McLennan Companies, Munich Re, NRG Energy, Patagonia, 
Ricoh, Stora Enso North America, Suntech Power, Swiss Re, 
Vattenfall, World Petroleum Council, and many others. 

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