|AIG Joins United States Climate Action Partnership|
|“As the first insurer to join USCAP, AIG can help shape a broad-based cap-and-trade legislative proposal, bringing to this critical endeavor a unique perspective on the business opportunities and risks that climate change poses for our industry.”|
-Martin J. Sullivan
AIG President and CEO
United States Climate Action Partnership (USCAP) is a new alliance of major businesses and leading climate and environmental groups that have come together to call on the federal government to enact promptly legislation requiring reductions of greenhouse gas emissions.
The original membership announced in January 2007 included ten major corporations: Alcoa, BP America, Caterpillar, Duke Energy, DuPont, FPL Group, General Electric, Lehman Brothers, PG&E, and PNM Resources, and four leading non-governmental organizations: Environmental Defense, Natural Resources Defense Council, Pew Center on Global Climate Change, and World Resources Institute. In a second group of members, AIG joins as the first insurance company.
The USCAP partners have presented a proposal entitled A Call to Action, which calls for a mandatory economy-wide, market-driven approach to climate protection. The cornerstone of the proposal is a cap-and-trade program that places specified limits on greenhouse case emissions. This will ensure emission reduction targets are met while simultaneously generating a price signal that will provide market incentives to stimulate investment and innovation in the technologies necessary to achieve the environmental goals.