January 19, 2007

GE, DuPont, Alcoa & More Form U.S. Climate Action Partnership

Ten major companies have formed a group, the United States Climate Action Partnership, which is calling for a firm nationwide limit on carbon dioxide emissions that would lead to reductions of 10 to 30 percent over the next 15 years, The New York Times reports. The group’s formal announcement is scheduled for Monday.

Introduction of this group, which includes General Electric, DuPont, Alcoa, Caterpillar, Duke Energy, PG&E, FPL Group, PNM Resources, BP, and Lehman Brothers, could send a strong signal that businesses want to get ahead of the increasing political momentum for federal emissions controls, in part to ensure that their long-term interests are protected.

Environmental Defense, Natural Resources Defense Council, Pew Center on Global Climate Change, and World Resources Institute are the environmental groups involved.

The group is recommending a range of emissions levels - from 100 to 105 percent of current levels within five years, then down to 90 to 100 percent of current levels in 10 years, and 70 to 90 percent of current levels in 15 years.

The chief executives agreed to “strongly discourage further construction of stationary sources that cannot easily capture” carbon dioxide, which comes close to a rejection of almost all planned coal-fired power plants.

Many of the companies involved have endorsed Senator Dianne Feinstein’s cap-and- trade legislation.

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