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Heavyweight companies including General Electric and Citigroup joined forces in a high-profile campaign against global warming, demanding that governments mandate caps on greenhouse gases.
The three-year-old Global Roundtable on Climate Change launched a new strategy backed by over 85 companies and groups including Air France, metals giant Alcoa, German pharmaceuticals maker Bayer and insurer Allianz.
"Global businesses are assuming their just place as catalysts for action on climate change. But action by business alone is not enough," GE chairman and chief executive Jeffrey Immelt said at the campaign's launch.
Corporate Titans Launch New Climate Change Campaign
Seeded on Wed Feb 21, 2007 2:16 PM EST
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- Public Discussion (5)
I have heard many warnings that such regulations would hurt or destroy the US economy. Would anyone who has made such claims please explain why companies such as GE, DuPont, Citigroup, and Alcoa would want such a thing to happen if that were true?
- 1 vote
#1 - Wed Feb 21, 2007 2:19 PM ESTCitigroup is a bank, so they will make money when businesses need funds. GE, I would guess, has new - more efficient products they want to sell. DuPont is a chemical company, so they most likely have products in the works. Or maybe they're just being nice guys.
There will be companies that benefit and those that suffer.
- 2 votes
I would expect given Alcoa's enormous energy needs, they would be one who would suffer. So what about them? I do expect some of it is part corporate altruism and marketing. However, I imagine that you are right in one way: a number of corporations and business will be able to leverage this to put themselves ahead in the market. Sure, the regulations might hurt some business; those who choose to fight rather than adapt (case in point: how Exxon is dealing with climate change science versus BP). This has always been the case in business. However, if this was truly as detrimental to the US (or world) economy as some have claimed, then I don't imagine any company would be pushing for such regulations. Then again, perhaps they realize what the long term environmental impacts will do to the world economy.
All of these companies have CSRs as well. They want to look good to the public.
- 2 votes
These guys don't want environmental policy enacted around them, they want subsidies to offset the costs as payment for playing the game.
- 1 vote
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