Saturday, July 21, 2007

Business Leaders Call for GHG Cut (Includes EXXON Mobil and Peabody Coal !)

There have been several groups of business leaders calling for action on climate change recetly, including the Global Roundtable on Climate Change (GROCC--Chaired by Columbia University) and the Climate Action Partnership (CAP--Chaired by Pew Centre for Global Climate Change).

Now another group (Via Carbon Planet) broader yet, has got together to call for action on climate change, and the attendant regulatory certainty that they can work within.

This new grouping includes Exxon Mobil (NYSE:XOM) and Peabody Coal , both of whom have lobbied massively and persistently against climate change regulation. Whilst this change is encouraging, the latest partnership doesn't get into details on what is required to reduce emissions.

I characterised a recent article by Jim Manzi as a repositioning of the climate skeptic line, position 5, climate change is caused by us, it is bad, we can do something about it, it is worth doing this, but lets not be hasty we don't want a carbon tax or cap and trade.

This final position isn't ruled out by the latest partnership, yet it is clear that cap and trade is required, possibly along with a carbon tax, and a whole suite of more climate friendly policies. The major transformative nature of climate change has to be accepted for us to approach our goals.

The statement can be downloaded here (PDF)

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Climate Change Action

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