Industry leaders: “THE TIME IS NOW,” says Jeff Immelt, chairman & CEO of GE, at press conference in Copenhagen with the Danish Minister of Climate & Energy
Agreement in Copenhagen in December could create millions of new green jobs, unleash huge investments in new, low carbon markets and thereby spur economic growth.
This was the message delivered today by Jeff Immelt, Chairman and CEO of General Electric, one of the world’s largest corporations, during a visit to Copenhagen where the UN Climate Change Conference (COP15) is to commence in just 40 days.
The Copenhagen Climate Council, which was hosting Jeff Immelt, announced that he had the support of the Council and a group of some of the world’s most significant industry leaders from five continents, including Li Xiaolin, CEO and chairwoman of China Power Development, China, and Ratan Tata, CEO of Tata Group, India (see joint statement and list of supporting business leaders below).
These industry leaders also stressed that the cost of failure in Copenhagen is high. Strong choices now are also economically smart. Tackling energy diversity and implementing a low carbon strategy now will cost less over the long term than waiting years to address it, they say.
Addressing the press conference, Immelt, said: “In business you always say when is the right time, and we think the right time is now. If you have high unemployment, this is one of the ways to create jobs. Everyone wants to lead in green technology. Every Prime Minister, every President.
“The pipeline is very rich. Entrepreneurship is strong. Corporate commitment is high. We should not see technology as a barrier but a facilitator. The investments we make will be around long after we are gone and creating them without a framework will be more difficult. Countries have to decide whether they are leaders or followers.”
He added: “Our belief is that there needs to be a price for carbon and if there is a price, the technology will decide. GE and other big companies have really said it’s time for the US to drive forward the need for solutions to climate change.”
The Danish Minister for Climate and Energy, Connie Hedegaard, said: “If we miss this opportunity, it will not come back and we lose a global momentum that has been building over several years. In case of failure, business will be the biggest loser. So I warmly welcome the message today from business. Look at the names: This is not just any group of CEOs. These CEOs are leading the world's largest corporations – and I really hope that their voice is heard all over the world. I strongly support their message: We must not let the world off the hook.”
Erik Rasmussen, founder of the Copenhagen Climate Council, added: “I see this statement as a powerful response to the lobby against a new climate change treaty. They have so far been too successful. Now business leaders must state loud and clear – as this impressive group does today – that combating global warming is a way to create renewed growth and prosperity and that the costs of inaction are too high. We need to hear this voice in order to build the necessary political confidence.”
Source: Copenhagen Climate Council www.copenhagenclimatecouncil.com
