CEOs urge action on climate change

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Business Roundtable offers solutions to sustain economy, reduce greenhouse gases

Business Roundtable, an association of 160 chief executive officers of leading U.S. companies, has issued a statement acknowledging that climate change poses a serious risk and that the time has come to take action. After reviewing the science, the group has concluded that “the consequences of global warming for society and ecosystems are potentially serious and far-reaching” and that “steps to address the risks of such warming are prudent now even while the science continues to evolve.”

“Today marks the first time that a broad cross-section of business leaders from every sector of the U.S. economy have reached consensus on the risks posed by climate change and the need for action,” said John J. Castellani, president of Business Roundtable, in announcing the policy statement.

The group is calling for “collective action that will lead to the reduction of greenhouse gas (GHG) emissions on a global basis, with the goal of slowing increases in greenhouse gas concentrations in the atmosphere and ultimately stabilizing them at levels that will address the risks of climate change.”

As a starting point for efforts to achieve this goal, Roundtable members agree that:

More companies should commit to making emission reductions a priority and report on their progress in achieving these reductions.

An improved national registry for reporting emissions and documenting reductions would stimulate additional progress by industry.

Government policies should encourage early action and investment to reduce emissions and improve energy efficiency.

Increasing energy efficiency is a proven and cost-effective strategy for reducing emissions and should be a priority for business and government.

The development and deployment of energy-efficient, low-GHG technologies is vital to long-term emission reductions.

RD&D (research, development and deployment) investment in new low-GHG technologies must be increased in the public and private sectors to levels commensurate with the climate challenge.

Investment in climate science must be continued at a high level so that we can better understand and predict the magnitude and timing of future warming.

Roundtable members have differing views, though, on the policy tools (for example, cap-and-trade, carbon taxes, emission or product standards) under consideration by policy-makers.