Twelve major U.S. companies weighed in on the climate debate last week by sending an open letter to the Senate asking members to pass legislation that would facilitate the creation of a clean energy economy and combat climate change. Interestingly, the companies specifically lobbied for regulation that would reduce U.S. emissions of greenhouse gases, which they assert will "harness market forces to spur technological innovation, invest in effective solutions, and jumpstart a clean energy economy—both in the United States and around the world."
In the letter, the companies—Bumble Bee Foods, Dell, DuPont, FPL Group, Google, HP, Johnson Johnson, JohnsonDiversey, Levi Strauss Co., Nike, PG Corporation and Xanterra Parks and Resorts—affirmed that by reforming their business practices to curb emissions, they have realized increased financial gain.
Almost invariably, the companies that leverage environmental policy reform to unleash new business opportunities will thrive in our evolving 21st century economy. Those who ignore climate change and try to preserve the status quo put themselves at risk of missing the opportunity to achieve real business differentiation.
As is the case with heath care, we have not yet been presented with legislation that proposes perfect energy and environmental solutions. However, similar to the health care debate, most stakeholders would agree that significant reform is long overdue. As these companies clearly stated in their letter, "the real threat to our long-term economic growth is failure to take action."
Without comprehensive policy that enables American manufacturers to access clean and affordable energy, water, and other essential resources, these companies, and the national economy that depends on them, will be at a huge disadvantage in the highly competitive global marketplace. If we fail to act now, our large manufacturers will be paralyzed by crippling energy costs in the same way that our auto industry was shattered by high labor costs.
Fortunately, there are measures being considered in Congress that will help manufacturers access clean energy, such as Section 48C of the American Reinvestment and Recovery Act that provides $2.3 billion in tax credits to manufacturers that make qualified investments in advanced energy projects in domestic facilities. Section 48C is expected to support total capital investments of almost $7.7 billion in new, renewable and advanced energy-manufacturing projects.
I applaud the businesses that had the vision, courage, and political will to send such an assertive letter to the Senate, as well as others in the building industry like Whirlpool, Masco, and Weyerhaeuser, who are taking proactive steps to develop comprehensive sustainability strategies that will simultaneously increase their competitiveness in the marketplace and decrease their environmental impact.
Posted: 9/18/2009 12:00:00 AM by
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