Alcoa's CEO Sees Economic Opportunities from Climate Change Plan

Feels business has no option but to reduce emission

Alain Belda, Aloca's CEO, on Sept. 24 told the largest ever meeting of world leaders on climate change convened by the United Nations, that he is convinced a global plan of action on climate change can be built in ways that create more economic opportunities than risks.

He said that said global businesses want to see development by the UN Framework Convention on Climate Change of a flexible, multilateral framework, which recognizes the diversity among major economies and establishes fair, effective and binding international commitments for all major emitting countries.

"The framework should provide flexibility for business to achieve efficient lowest cost reductions immediately and promote investment in development and application of necessary breakthrough technologies. It should include measures and incentives to reduce emissions from land use change and deforestation. Innovation and new technologies have been growth drivers in the global economy in the past," Belda said. "I believe there is no other option and failing to act presents an unacceptable level of risk. As an industry leader, we at Alcoa accept the responsibility to act and look to joining with all of you in what must be a shared global effort."

More than 70 heads of state or government were at the conference, "The Future in our Hands: Addressing the Leadership Challenge of Climate Change," at UN headquarters in New York. Other participants included the Chair of the Intergovernmental Panel on Climate Change Rajendra K. Pachauri, and Arnold Schwarzenegger, Governor of California.

His remarks are available at http://www.alcoa.com/climatechange/speeches.

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