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CEOs Call for Mandatory Emissions Reductions
Ten CEOs of several large U.S. companies, including Alcoa Inc., BP America Inc., DuPont Co., Caterpillar Inc., General Electric Co., and Duke Energy Corp., have joined to form what they call the U.S. Climate Action Partnership.
These companies are urging President Bush to adopt a mandatory emissions reduction in an effort to stem human-induced global climate change, specifically targeting carbon dioxide, which the EPA has failed to recognize as a pollutant under the Clean Air Act.
The companies are promoting a cap and trade system as the cornerstone of the regulated market, arguing that the economic opportunities will outweigh the costs of mandatory reductions. Like all trading systems, some companies stand to lose big on the proposition of regulating emissions. However, as the United States moves closer to emissions caps, it is certainly strategic for corporations to push for a cap and trade system over other propositions such as a carbon tax.
(CNN)
Posted by Sean on 01/25
