A survey presented at COP21 in Paris this week reveals that the bosses of utilities believe that a global agreement on greenhouse gas emissions is vital to their businesses’ sustainable success.
The survey was carried out by the Global Electricity Initiative, an organisation led by the World Energy Council and the World Business Council for Sustainable Development w hich aims to enhance efforts to ensure reliable electricity supply, improve access.
The utilities participating in the GEI survey were from countries that together account for more than 80 per cent of global installed generation capacity.
The found that 89 per cent of utility chief executives consider a global agreement on GHG emissions vital to their business sustainable success; 40 per cent said they need a price over $100 per tonne of CO2 emissions to make them change their business model; and nearly two thirds agreed that the CO2 emissions price should be determined globally and by the market – the other third preferred a price introduced by mandatory fiscal measures on a national level.
Philippe Joubert, executive chair of the Global Electricity Initiative, said: “Utilities consider the introduction of a meaningful agreement on GHG emissions reduction a priority. For them, the real price of CO2 is a fundamental to trigger a shift in utilities’ business models. What will be decided at COP21 in Paris will thus be fundamental to the future direction utilities choose.”