"The Time Is Now," Says GE's Jeff Immelt Today in Copenhagen

This was the message delivered today by Jeff Immelt, Chairman and CEO of General Electric, one of the world's largest corporations, during a visit to Copenhagen where the U.N. Climate Change Conference (COP15) is to commence in just 40 days.

The Copenhagen Climate Council, which was hosting Jeff Immelt, announced that he had the support of the Council and a group of some of the world's most significant industry leaders from five continents, including Li Xiaolin, CEO and chairwoman of China Power Development, China, and Ratan Tata, CEO of Tata Group, India (see joint statement and list of supporting business leaders below).

These industry leaders also stressed that the cost of failure in Copenhagen is high. Strong choices now are also economically smart. Tackling energy diversity and implementing a low-carbon strategy now will cost less over the long term than waiting years to address it, they say.

Addressing the press conference, Immelt, said: "In business you always say when is the right time, and we think the right time is now. If you have high unemployment, this is one of the ways to create jobs. Everyone wants to lead in green technology. Every Prime Minister, every President.

"The pipeline is very rich. Entrepreneurship is strong. Corporate commitment is high. We should not see technology as a barrier but a facilitator. The investments we make will be around long after we are gone and creating them without a framework will be more difficult. Countries have to decide whether they are leaders or followers."

He added: "Our belief is that there needs to be a price for carbon and if there is a price, the technology will decide. GE and other big companies have really said it's time for the U.S. to drive forward the need for solutions to climate change."

The Danish Minister for Climate and Energy, Connie Hedegaard, said: "If we miss this opportunity, it will not come back and we lose a global momentum that has been building over several years. In case of failure, business will be the biggest loser. So I warmly welcome the message today from business. Look at the names: This is not just any group of CEOs. These CEOs are leading the world's largest corporations – and I really hope that their voice is heard all over the world. I strongly support their message: We must not let the world off the hook."

Erik Rasmussen, founder of the Copenhagen Climate Council, added: "I see this statement as a powerful response to the lobby against a new climate change treaty. They have so far been too successful. Now business leaders must state loud and clear – as this impressive group does today – that combating global warming is a way to create renewed growth and prosperity and that the costs of inaction are too high. We need to hear this voice in order to build the necessary political confidence."

Joint Message to Heads of States and Governments:

Industry leaders: Last call for an ambitious agreement in Copenhagen

creating new jobs, unleashing investments, shaping new markets

As a global community we are today confronted by a number of significant challenges that are inter-related; a global economic crisis, a climate crisis and an energy security crisis.

In December when world leaders and civil society come together in Copenhagen for the U.N. Climate Change Conference (COP15) their decisions will therefore have far-reaching consequences. There is, however, still uncertainty about the level of ambition, even though Copenhagen is just 40 days away.

As industry leaders, we urge governments to show leadership and commitment in this final phase and help sustain our economy and the environment. We call upon Heads of States to go to Copenhagen in December and seize this historic opportunity.

A successful agreement at COP15 can:

• Ensure we do not lose the opportunity of creating more new green jobs
• Ensure we do not lose huge investment potential
• Secure the future of our global market place

Let there be no mistake: Industry leaders from all regions representing some of the world's most significant companies support ambitious action on climate change in Copenhagen [1]. COP15 is a unique chance to create a momentum for a low-carbon future but if we postpone decisions, we will lose valuable time.

An ambitious agreement at COP15 can help secure the future of our global market place, drive a new phase of sustainable growth allowing us to move from this phase of global reset into one of renewal creating as many as 10 million "green jobs" internationally in the process [2].

It is imperative that a clear signal is sent that low carbon energy is valuable. We must put a price on carbon and a cap on carbon emissions. No long-term signal means no serious innovation at scale and ultimately an inability to achieve our goals.

Only through regulatory certainty with clear timetables including long term and short term goals can an engine of green growth emerge which drives innovation, spurs massive global investments and enhances efficiencies, allowing climate mitigation and adaptation approaches to reach scale.

Business will play its part but it is critical that the negotiations create an environment that will unlock the potential of business to do what it does best: to invest profitably, to innovate and bring affordable low carbon products and services to billions of consumers around the world.

Copenhagen can mark a new beginning. It's important to seize this opportunity now.

[1] These messages reflect numerous statements adopted by members of e.g. USCAP, World Business Council for Sustainable Development, Corporate Leaders Group, World Economic Forums Climate Initiative, 3C Combat Climate Change, The Climate Group, U.N. Global Compact, and the Copenhagen Climate Council.

[2] "Cutting the costs: The economic benefits of collaborative climate action," Tony Blair/The Climate Group 2009

Supported by:

• British Airways: Willie Walsh, CEO
• China Powers International: Li Xiaolin, CEO and Chair
• Danfoss: Jørgen Mads Clausen, Chairman
• De Beers: Gareth Penny, Group Managing Director
• DONG Energy: Anders Eldrup, CEO
• Duke Energy: Jim Rogers, CEO, Chairman and President
• DuPont: Chad Holliday, CEO
• E.ON: Wulf H. Bernotat, Chairman and CEO
• GE: Jeff Immelt, Chairman and CEO
• SwissRe: David Bresch, Head of Sustainability
• Tata Group: Ratan Tata, Chairman
• Vattenfall: Lars Josefsson, CEO

Footage is also available from TV2: Jette Greve on +45 6591 4068.

*Photo credit: © GE/Thomas Marott