“Green” economy needs targets, free trade: GE
October 15, 2009
Written by Editor, in Uncategorized
According to Reuters, “The world needs tougher targets to boost low-carbon energy, both nationally and in global climate change talks, the head of General Electric Co’s energy business John Krenicki said on Wednesday.
John Krenicki
‘If you really want it to take off, governments have got to set the framework,’ he told Reuters.
‘What we can’t have is a one-year policy and expect companies to invest billions and billions of dollars when we’re not convinced there’s going to be a market,’ he said, using the example of U.S. renewable energy tax breaks that expire in two years.
The most important outcome from a global meeting in December in Copenhagen, meant to agree a new climate pact, would be placing an economic value on carbon cuts, through tough emissions targets, and lower trade barriers to clean technology investment, he said.
‘Targets, we don’t have much right now, and free trade,’ said Krenicki, head of energy at the world’s biggest maker of power turbines and jet engines, on green business needs from the U.N.-led meeting.”
Source: Reuters
