Vattenfall CEO calls for 'global price' on emissions trading

London (Platts)--11May2006

Swedish utility Vattenfall's President and CEO Lars G Josefsson called
for a global price system on emissions trading Wednesday, in an initiative to
reduce C02 emission levels worldwide.
"We must do all we can to set the correct price on emissions and the
pricing must be as global as possible. The only possible way to do this is to
make use of market forces, i.e. a global system for emissions trading must
develop," Josefsson said in his speech at the UN Commission on Sustainable
Development in New York.
In the speech, which was addressed to international energy ministers and
CEOs of global corporations, Josefsson said the business community's
reluctance to take a clear stance on climate change must be overcome.
"It is very clear that we must drastically reduce the current levels of
CO2-emissions. The most pressing need is to create a credible, stable and
predictable long-term framework defining how reductions will be achieved,"
Josefsson said.
The Vattenfall CEO also urged business leaders to integrate climate
change issues into global trading.
"Instead of being pulled by society, business leaders should be pushing
and in a positive way integrate climate change issues into the world of
markets and trade on a global scale," Josefsson said.
At the conference, Josefsson also announced the "3C" global business
leaders initiative on combating climate change. Companies signing the agenda
commit themselves to creating and promoting a roadmap towards a low emitting
society.

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