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CLIMATE ACTION PROGRAMME


19 November 2008

Could capping carbon emissions recover the economy and create jobs?

After many lengthy discussions around the current economic state, U.S. business leaders on Tuesday offered a possible solution to recover the economy and create jobs: cap the carbon emissions that spur global warming.

"The twin dynamics that are going to inform our industry for the next 20 or 30 years are climate change and sustainability," David Crane, CEO of NRG Energy Inc., said in an interview before the group's official announcement.

"Climate change actually represents an area where U.S. business could be ahead of the curve instead of behind the curve."

Crane is among the leaders of 26 corporations and six environmental groups that make up the U.S. Climate Action Partnership, which since 2007 has pushed for a cap-and-trade system in the United States in line with the Kyoto Protocol, which imposes emissions limits internationally.

The climate partnership, known as USCAP, wants reductions in greenhouse gas emissions that are 60 percent to 80 percent below current levels by 2050, a goal that is in line with what President-elect Barack Obama supports.

Crane and others in the group recognize the pressure the global financial crisis could put on any carbon-cutting plan.

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Source: Reuters

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