Business Roundtable, an association of chief executive officers at leading U.S. companies, is urging Congress and the Obama Administration to support renewable and traditional sources of energy as the country transitions to a low-carbon economy. They cite the need to protect energy security and economic growth while reducing greenhouse gas (GHG) emissions.
The roundtable’s report, Unfinished Business: The Missing Elements of a Sustainable Energy and Climate Policy (PDF), outlines key policies that Congress has not addressed in its efforts to establish a climate change and energy legislation. According to the report, a climate change policy that excludes some energy sources and technologies will result in failure in meeting national GHG reduction targets and will stall the country’s return to economic growth.
The new report leverages legislative recommendations for Congress based on the Business Roundtable’s plan for addressing climate change in its energy report, More Diverse, More Domestic, More Efficient (PDF), and its economic modeling study, The Balancing Act.
These recommendations include enhancing energy efficiency in residential and commercial buildings and the industrial sector, and expanding nuclear power, as well as maintaining coal’s long-term viability with research and development investments, cost-sharing, regulatory reform and incentives for the development of carbon capture and storage (CCS) technology.
Other proposals include expanding and modernizing the electric grid in order to develop the nation’s renewable energy potential, improving electric reliability and driving energy efficiency, and providing access for oil and natural gas exploration and production to enhance domestic energy security as alternative technologies evolve and mature.