HOUSTON, Sept. 4 /PRNewswire/ -- BP America will work with California Governor Arnold Schwarzenegger to develop workable, market-based strategies for implementation of climate change legislation to reduce greenhouse gas emissions throughout California. Governor Schwarzenegger is expected to sign the legislation into law in the near future.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/NYM120LOGO )
"After speaking with Governor Schwarzenegger, I believe that, through his leadership, a fully functioning market will become an integral part of the system to reduce greenhouse gas emissions," said BP Group Chief Executive John Browne. "Having an emissions market will help California achieve the lowest cost solutions and spur innovation of new technologies supporting lower greenhouse gas emissions."
BP annually reports its greenhouse gas emissions and has made significant reductions in those emissions over the years. The company has long advocated the use of emission "cap and trading" programs to achieve emissions reductions and is an active participant in the European Union emissions reduction market.
"I believe this legislation can provide a framework for addressing climate change in a way that helps, not harms, California's economy," said BP America Chairman and President Bob Malone, a founding board member of the California Climate Action Registry.
"Over the years BP has worked with successive California administrations and legislatures to develop sound public policy to reduce green house gases," Malone said. "Our engagement on this issue will continue as new climate change regulations are developed. We want this effort to be successful because what happens in California matters to the nation and to the world."
Notes to Editors
- Every year in the BP Sustainability Report BP describes the efforts of
the company to address climate change. The climate change section of
the report is available at:
http://www.bp.com/subsection.do?categoryId=4529&contentId=7014604
- In 1997 BP publicly acknowledged the need for precautionary action to
cut GHG emissions. In 1998 BP set a target to cut emissions from our
operations to 10% below 1990 levels by 2010. In 2001 BP achieved its
2010 target nine years early through energy efficiency and by cutting
flaring of unwanted gas
- In California, BP was the first in the global energy industry to earn
the distinction of Climate Action Leader under the rigorous California
Climate Action Registry program.
- In November 2005, BP created a new Alternative Energy business, with a
commitment to invest $8 billion over the next decade in alternative
energy. BP Solar is one of the world's largest makers of photovoltaic
panels.
http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7012352
- In February 2006, BP announced plans to partner in construction of a $1
billion hydrogen-fueled power plant in California that will generate
clean electricity with minimal carbon dioxide (CO2) emissions.
http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7014858
- In June 2006, BP and the California Institute of Technology teamed up
in a multi-million dollar research program that could open the door to
a radical new way of producing solar cells, making the cost of solar
electricity more competitive and increasing current efficiency levels.
http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7019218
- In August 2006, BP purchased Greenlight Energy, Inc, a developer of
large-scale wind energy projects across the USA. This purchase will
further accelerate BP's plans to develop a leading wind power business
in North America.
http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7020896
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