Execs Say U.S. Needs Way to Curb Emissions
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Loading ...Two U.S executives told a congressional panel that the country should encourage investment in efficiency and address climate change, perhaps by assigning a dollar cost to carbon emissions, Reuters reports.
John Rice, General Electric vice-chairman, and Daniel Esty, a professor of environmental law at Yale University both told the panel that cap-and-trade would be the best way to encourage investments in energy efficiency. George David, chairman of United Technologies Corp., declined to back the approach.
The European Union already covers over 1,000 industrial sites with a cap-and-trade system, but the U.S. Senate defeated efforts to adopt such a system last month.
Rice also told the panel that carbon capture and sequestration is technically viable today but not commercially viable and suggested the government to do more to help emerging energy technologies through tax credits. Read more
Source: Environmental Leader
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