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Corporate Leaders Unveil Climate Change Roadmap

November 14, 2007

On Nov. 9, a group of 46 international companies called on nations to work together to develop a global policy framework to combat climate change.

Heads of the companies (based in North America, Europe, Asia and Africa) issued a statement urging governments around the world to take a series of steps to address climate change. The companies, from industrial, energy, financial, insurance, power, transportation and media sectors, have combined in an international business initiative called Combat Climate Change (3C).

In advance of upcoming climate change negotiations in Bali, Indonesia, the group is recommending specific action steps that world governments should make a priority in taking urgent action against the global climate problem.

"Industry can and should be an ally, not an obstacle, to addressing the very real climate problem," said Lars Josefsson, founder of the initiative and president and chief executive officer of Swedish energy group Vattenfall. "But the initiative must be taken not by one industry, but by all of us working together: the global challenge of combating climate change requires a global solution."

Unveiled at a seminar in Washington, D.C., the 3C Roadmap calls on governments to:

• Set a global goal of a maximum acceptable temperature increase and derive global emissions targets from this goal.
• Establish policies to enable changes driven by the marketplace, including:
• Creation of a stable global market for emissions trading.
• Minimum requirements for energy and resource efficiency (with a focus on transportation and building) .
• Targeted systems to address forestry and agriculture.
• Support programs for high-impact technologies such as solar photovoltaic, carbon capture and storage, offshore wind and cellulosic ethanol.

The 3C companies committed themselves to four actions they will undertake to support development of the transparent policy framework called for in the roadmap:

• Sharing their understanding of the industries they work in and identifying the measures with the most impact and the steps needed to gain their full effect.
• Working within their respective sectors to influence their colleagues and push the development of efficient technology.
• Working hard to reduce emissions in their businesses and to act as role models for other organizations.
• Contribute their share to minimizing market failures by being transparent and by helping our customers make informed choices.

The roadmap can be viewed at http://www.combatclimatechange.org.