Saturday, December 01, 2007

World's big companies want clear climate outcomes from Bali

clipped from

Forty-six of the world's biggest corporations on Friday laid out their "road map" for reducing global warming, putting an emphasis on market-based ways to cut emissions.

"Climate change is a serious threat," said Peter Darbee, chairman and chief executive of PG&E Corp., a San Francisco-based energy company. "The time for all of us to step up is now."

"We're committed to going to Bali and discussing with countries there the way ahead on climate change," Gordon Johndroe, spokesman for the National Security Council, said at a briefing Friday in Crawford, Texas.

The Kyoto agreement assigned binding targets for 36 countries to reduce emissions of carbon dioxide and other gases that contribute to global warming. The United States, Australia and many developing countries refused to ratify the treaty, but are participating in discussions over its successor.

Many business and environmental leaders believe the need for global action is growing as economic development spurs the use of fossil fuels

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