From yesterday's
Commercial Appeal
http://www.commercialappeal.com/mca/us/article/0,2845,MCA_25346_5298207,00.htmlCEOs:
We must act on emissions
Mandatory caps, market system needed, they sayBy H. Josef HebertAssociated PressJanuary 23, 2007
WASHINGTON -- Chief executives of 10 major corporations urged Congress on Monday to require limits on greenhouse gases this year, contending voluntary efforts to combat climate change are inadequate.
The call for immediate action came on the eve of President Bush's State of the Union address in which he is expected to reiterate that the industry on its own is making progress in curtailing the growth of heat-trapping emissions without the need of government intervention.
But the executives and leaders of four major environmental organizations said in a letter to Bush that mandatory emissions caps are needed to reduce the flow of carbon dioxide and other heat-trapping gases into the atmosphere.
"We can and must take prompt action to establish a coordinated, economy-wide market-driven approach to climate protection," the executives, part of a coalition called the U.S. Climate Action Partnership, said in a letter to the president.
The executives, representing major utilities, aluminum and chemical companies and financial institutions, said the cornerstone of climate policy should be an economy-wide emissions cap-and-trade system.
At a news conference, the executives said mandatory reductions of heat-trapping emissions can be imposed without economic harm and would lead to economic opportunities if done across the economy and with provisions to mitigate costs.
Many of the companies already have voluntarily moved to curb greenhouse emissions, they said. But the executives also said they do not believe voluntary efforts will suffice.
"It must be mandatory, so there is no doubt about our actions," said Jim Rogers, chairman of Duke Energy. "The science of global warming is clear. ... We must act now."
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10 sign on
Signing the letter to President Bush were the chief executives of:
Alcoa Inc. BP America Inc. DuPont Co. Caterpillar Inc. General Electric Co. Duke Energy Corp. Lehman Brothers PG&E Corp. PNM Resources. FPL Group.
Four leading environmental organizations also joined in the message to the president.
-- Associated Press
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