9.24.2007 - 03:44pm ET

(CSRwire) NEW YORK - September 24, 2007 - Alcoa Chairman and CEO Alain Belda today told the largest ever meeting of world leaders on climate change convened by the Secretary-General of the United Nations Ban Ki-moon that he is convinced a global plan of action on climate change can be built in ways that create more economic opportunities than risks. More than 70 heads of state or government were at the conference, "The Future in our Hands: Addressing the Leadership Challenge of Climate Change," at UN headquarters in New York. Other participants included the Chair of the Intergovernmental Panel on Climate Change Rajendra K. Pachauri, and Arnold Schwarzenegger, Governor of California.

Mr. Belda took part in a plenary session on emissions reduction, entitled "Reducing Emissions and Stabilizing the Climate – Safeguarding our Common Future."

Mr. Belda said global businesses such as Alcoa want to see development by the UN Framework Convention on Climate Change of a flexible, multilateral framework, which recognizes the diversity among major economies and establishes fair, effective, and binding international commitments for all major emitting countries.

"The framework should provide flexibility for business to achieve efficient lowest cost reductions immediately and promote investment in development and application of necessary breakthrough technologies. It should include measures and incentives to reduce emissions from land use change and deforestation. Innovation and new technologies have been growth drivers in the global economy in the past," Mr. Belda said. "I believe there is no other option and failing to act presents an unacceptable level of risk. As an industry leader, we at Alcoa accept the responsibility to act and look to joining with all of you in what must be a shared global effort," he continued.

Mr. Belda's remarks are available at http://www.alcoa.com/climatechange/speeches.

The UN event is aimed at securing political commitment and building momentum for negotiations about a new international climate agreement to start at the UN Climate Change Conference in Bali scheduled for December 3-14.

About Alcoa

Alcoa (NYSE:AA) is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components including flat-rolled products, hard alloy extrusions, and forgings, Alcoa also markets Alcoa(R) wheels, fastening systems, precision and investment castings, structures and building systems. The company has 116,000 employees in 44 countries and has been named one of the top most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com.