The United States Climate Action Partnership (USCAP), which includes GE among its members – provided detailed recommendations to Congress on a new sustainable national climate protection program. USCAP is a group of businesses and leading environmental organizations that have come together to call on the federal government to quickly enact strong national legislation to require significant reductions of greenhouse gas emissions.
At a press conference in Washington DC, USCAP outlined “A Blueprint for Legislative Action.” The document outlines specific guidelines for the Obama Administration and Congress to pass legislation that protects the environment and assists the transition to a low-carbon economy. Specifically, this includes reducing greenhouse gas emissions by 80 percent of 2005 levels by 2050 through an economy-wide cap-and-trade program.
GE’s Chairman and CEO Jeff Immelt joined 25 other corporations and five environmental organizations to help create the Blueprint over a two-year period.
“In the past, the U.S. has proven that we have the will, the capabilities and the courage to invest in innovation – even in difficult times,” said Jeff Immelt, Chairman and CEO of GE. “Today, cap-and-trade legislation is a crucial component in fueling the bold clean energy investments necessary to catapult the U.S. again to preeminence in global energy and environmental policy, strengthen the country’s international competitiveness, and create millions of rewarding new American jobs.”
The Blueprint details steps for creating a mandatory, economy-wide cap-and-trade program, coupled with cost containment measures and complementary policies addressing a federal technology research development and deployment program, coal technology, transportation, and building and energy efficiency.
* Read the USCAP press release
* USCAP’s “A Blueprint for Legislative Action”
* USCAP’s web site
* Read the complete statement from Jeff Immelt before the House Committee on Energy and Commerce Hearing on USCAP
* Washington Post: Coalition Agrees on Emissions Cuts (registration may be required)
* USA Today: Businesses join plan to cut greenhouse gases
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I would like to thank Short sellers for giving me the opportunity to own more GE at high yields
With its 1-30-30 plan, GE walks the walk when it comes to greenhouse gas emissions reduction.
Some of the linked articles higlight the fact engergy prices may go up. Yes I’m afraid that the developed nations will have to factor in higher prices for energy. Why? Because prices have been artificially low for the last 2 decades and our bills have not factored in the cost of damage to the environment & health. Obviously it is v.hard to factor environemntal & health damage into our energy bills but so far we have not. The best way to move to a low carbon economy is steady incremental changes to the whole tax system to move us away from carbon, increase efficiency/ reduce waste & reduce overall consumption. Those who lobby against this for thier share prices and profits should be ashamed of thier selfish actions.
I should email you about it.