Global CEOs Back Greenhouse Gas Cuts, Carbon Caps

Global business leaders added momentum to prospects for a new U.N. climate treaty by agreeing Tuesday that the world must cut greenhouse gas emissions in half by mid-century by setting specific limits on carbon. Government officials reported little progress in setting such limits, however, showing how distant a new treaty remains. Some 500 CEOs and other top business experts said at the conclusion of the three-day World Business Summit on Climate Change in Denmark that "immediate and substantial" emissions cuts were needed by 2020, followed by cuts of at least 50 percent of 1990 levels by 2050. They said governments should use the marketplace to set a global price on carbon instead of taxing it, according to a statement from conference organizers. The business leaders said governments' overriding aim at a December U.N. meeting in Copenhagen on replacing the 1997 Kyoto Protocol should be limiting the global average rise in temperature to a maximum of 2 degrees Celsius...CNSNews