Business Leaders and Energy Experts Call For Government Action To Decarbonise Power Generation
Before the conclusion of the recent World Business Summit, Alstom, together with Duke Energy and Vattenfall co-hosted a round table to discuss how the power generation industry, responsible for 40% of CO2 emissions, can be de-carbonized to tackle climate change.
Present at the round table were Philippe Joubert, president of Alstom Power, and the CEOs of leading energy companies Duke Energy, Vattenfall, DONG Energy, TATA Power, BP, AMEC, Bruce Power, PG&E and Eskom. Also present were policy makers from the Danish Prime Minister's office, governments from Japan and Sweden, and CEOs from leading organizations the World Bank, the Global CCS Institute, the World Business Council for Sustainable Development, the International Emissions Trading Association, the World Energy Council, the European Investment Bank and the International Energy Agency.
According to a press release from Alstom, a number of recommendations were made by participants including that costs of new low-carbon technologies can only be driven down through deployment and progress needs to be made with the deployment of technologies. A long-term strategy must be established for R&D as well as for investment. The regulatory model needs to change to encourage a shift in the mission of the power sector. Affordability and universal access to electricity is essential, but clean power has to trump some of these issues. CO2 emissions targets will not be reached unless the power generation is decarbonized. Regulation benefits industry by providing a consistent approach, necessary to encourage investment and ensure the biggest possible reduction of costs. Areas to be regulated include efficiency standards, not just on the demand side; mandatory CCS, as recently proposed by the UK for coal fired power plants; smart grid standards; demand side management; and sectoral approaches based on best available technologies.
For more information: www.alstom.com