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Climate Action

Last week, GE announced its participation in a major initiative urging the U.S. government to quickly enact strong legislation to significantly reduce greenhouse emissions. The formation of the United States Climate Action Partnership (USCAP), illustrates the commitment of GE and other founding U.S.-based businesses and leading non-governmental organizations (NGOs) to address the challenge of climate change. The other participants include: Alcoa, BP America, Caterpillar, Duke Energy, DuPont, FPL Group, Lehman Brothers, PG&E, PNM Resources, Environmental Defense, Natural Resources Defense Council, Pew Center on Global Climate Change and World Resources Institute.

Created by consensus, USCAP has released a set of principles and recommendations, intended to help slow, stop and reverse the growth of greenhouse gas (GHG) emissions over the shortest period of time reasonably achievable. In its report, A Call for Action, the group also has cited the environmental and economic benefits associated with its recommendations.

How USCAP Evolved

With the goal of issuing recommendations that would initiate formal discussion on carbon policy, USCAP was formed in 2006, after GE and other major multinational companies were approached by four NGOs: Environmental Defense, Natural Resources Defense Council, World Resources Institute and Pew Center on Global Climate Change. In addition to the USCAP effort, GE has worked with these NGOs on many other initiatives, including the 2005 launch of ecomagination.

The first formal meeting was held in July 2006, and formal discussions followed to develop policy recommendations. The Meridian Institute facilitated the group, with each company and organization forming a small working team to support the process. Working meetings and CEO meetings were held to build awareness and consensus and to finalize the "Call for Action" principals announced last week.

GE's input was derived primarily from customer/stakeholder meetings over the last few years including the customer oriented Energy 2015 series, the U.S. Carbon Summit held with both customers and NGOs, and the Energy Evolutions programs held in cooperation with EEI.

The core group of companies and NGOs forming USCAP agreed to keep the group at a manageable size in order to effectively formulate and issue a framework that would be a catalyst for discussion. Discussions were kept confidential within the group, in order to reach a consensus and develop a position from which to start.

During the first six months, the group's effort focused on developing USCAP's recommendations. Its solutions-based report, A Call for Action, was finalized in late 2006. The report includes a landmark set of principles and recommendations to underscore the urgent need for a policy framework on climate change. The report also lays out a blueprint for a mandatory economy-wide, market-driven approach to climate protection. The group's recommendations are based on the following principles:

  • Account for the global dimensions of climate change
  • Recognize the importance of technology
  • Be environmentally effective
  • Create economic opportunity and advantage
  • Be fair to sectors disproportionately impacted
  • Recognize and encourage early action

GE's Commitment

On April 4, 2006, during a Senate Energy and Natural Resources Committee hearing on the design of a CO2 cap-and-trade system, David Slump, General Manager, Global Marketing, said, "GE supports development of market-based programs to slow, eventually stop, and ultimately reverse, the growth of greenhouse gases (GHG)."

The launch of ecomagination two years ago also reflects GE's commitment to a reduction in greenhouse gases. GE is committed to offering products and services to help customers reduce greenhouse gas emissions and decrease the company's own emissions. With ecomagination, GE has committed to

  1. An absolute 1 percent reduction in greenhouse emissions from the 2004 baseline by 2012, which represents an estimated 30 percent actual reduction when our growth rate is factored in
  2. A 30 percent energy efficiency improvement by 2012
  3. A 30 percent energy intensity reduction by 2008.

Under ecomagination, GE has developed the following global policy positions around climate change:

  1. Technology exists to address climate change.
  2. A portfolio of technology solutions should be pursued.
  3. Accelerated deployment of technology often requires policy support.
  4. All policy levers should be utilized in a coordinated manner.
  5. A long-term price for carbon accelerates technology deployment.

The USCAP initiative echoes these fundamental beliefs and links them to key legislative and regulatory premises. USCAP advocates that:

  • Technology is key to a solution. The currently available technologies for reducing greenhouse gas emissions include but are not limited to, wind, solar, nuclear, cleaner coal, and hybrid vehicles. The cost-effective deployment of these technologies is critical, and R&D for further technology advances must have the support of government.
  • A consistent carbon policy will be critical to the development and adoption of advanced technologies that improve efficiencies and lower emissions.
  • Industry should have a voice in defining carbon policies, and that USCAP is the mechanism for industry and environmental groups to contribute leadership to the formation of carbon policy in the United States.
  • A monetary value for CO2 will accelerate technology development and deployment, and will allow the market to determine which solutions best meet the needs of specific customers. A mandatory and flexible climate program will create needed regulatory certainty for investment decisions and choices.

Next Steps

USCAP will engage in the legislative process by attending briefings and hearings and assisting in the development of legislative specifications. In addition, USCAP is seeking additional members to join the effort. The group is particularly interested in adding new members from the power generation and transportation sectors with the following criteria:

  • CEO commitment and acceptance of defined Principles/Recommendations
  • Agreement to work with all stakeholders to advance a legislative position that can be enacted

More on GE's positions