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The Climate Group Convenes Climate and Energy Roundtable

Date
31 July 2006

LOS ANGELES (Calif.) - July 31, 2006 Prime Minister Tony Blair and Governor Arnold Schwarzenegger join international business leaders to hold frank and far-reaching discussions on global partnership approach to reducing greenhouse gas emissions.

Today, Prime Minister Tony Blair and Governor Arnold Schwarzenegger will join a select group of prominent CEOs and business leaders from leading California and international companies at a roundtable discussion to share ideas on how business and government can work together to reduce greenhouse gas emissions.

The Climate and Energy Roundtable is being convened by The Climate Group, the only nonprofit organisation working internationally to bring business and government together to solve global warming. The event is being hosted by BP at their facility at the Port of Long Beach.

"Because climate change is a global problem, it requires a global partnership between business, government and NGOs," said Dr. Steve Howard, CEO, The Climate Group. "We are convening the roundtable so that Prime Minister Blair and Governor Schwarzenegger can discuss practical ideas with business leaders. Focusing on how business and government can work together to bring about the technology revolution needed, the discussion will help accelerate the transition to a low carbon economy."

CEOS and Senior Executives participating in the roundtable discussion will include Lord John Browne, BP; Charles O. Holliday Jr., DuPont; Sir Richard Branson, Virgin Group; Sergey Brin, Google; John Bryson, Edison International; Jacques Dubois, Swiss Re; Dan Hendrix, Interface; Michael Morris, AEP; James Murdoch, British Sky Broadcasting; Anthony Pratt, Pratt Industries/Visy; Tom King, PG&E; Jeff Swartz, Timberland; Tracy Wolstencroft, Goldman Sachs; Rick Lazio, JP Morgan Chase, and others.

"These companies represent one half trillion dollars in turnover, well more than 315,000 employees, and in excess of 207 million customers," said Dr. Howard. "We expect the discussion will include specific examples of what's already been rolled out in California and the UK - which are both leaders in reducing greenhouse emissions - so that we can build on best practices."

Research by The Climate Group has found that curbing climate change through the reduction of greenhouse gas emissions can actually be more cost-effective and stimulate the global economy. Many Fortune 500 companies have already taken significant steps to reduce emissions and, in doing so, have decreased operations costs and increased profitability.

"Addressing climate change will take bold leadership. It's a global problem and will require a global solution. Meetings like the one held today between business and government leaders are an important step in building consensus on a way forward," said Lord Browne, CEO of BP.

"The role of business is not to engage in politics or propaganda. The role of business is to offer solutions," he added. "That is what BP is trying to do - by investing in BP Alternative Energy, a new company that combines BP's low- and zero carbon alternative sources of energy including wind, solar, natural gas and hydrogen power. We will invest at least $8 billion in this new business over the next ten years."

BP is one of the world's largest energy companies, with interests in more than 100 countries and over 96,000 employees. BP Alternative Energy, formed in 2005, brings together all BP's interests in zero and low-carbon power generation: BP Solar, the company's photovoltaic business; wind power generation; hydrogen power - which combines fossil fuel power generation with carbon capture and storage to provide extremely low carbon power; and BP's natural gas-fired power interests. BP Alternative Energy has an active wind development portfolio in Europe, North America and Asia; the company's hydrogen business includes two announced projects (in Los Angeles and in Peterhead Scotland); BP Solar is a leading global solar company; and; BP also participates in more than 13,000 MW of gas-fired generation around the world.

"Taking initiative on climate change and energy policy has the potential to deliver significant economic benefits," said Dr. Howard. "Our hope is that the Roundtable will help develop a policy framework that addresses appropriate market incentives. With policy certainty will come exceptional change - new investments in efficient technology, new jobs, and, most importantly, real progress in curbing climate change. It's an exciting time."

The Climate Group is a nonprofit organization with offices in London, San Francisco, New York and Melbourne that communicates the business case for solutions to climate change and mobilises corporate and government leaders to take decisive action to accelerate the transition to a low carbon economy.

For further information please contact:

Alison Lucas
The Climate Group
Mobile: +44 (0)7786 546 724
Office: +44 (0)1483 719 400
Alucas@theclimategroup.org

Courtney Lodato
Singer Associates, Inc.
Mobile (415) 378-4382
Office: (415) 227-9700
Courtney@singersf.com

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