Entergy CEO Leonard: Report Provides Policy Makers a Clear Roadmap
Published 06-19-09
Submitted by Entergy Corporation
WASHINGTON, June 19 /PRNewswire-FirstCall/ -- An MIT Energy Initiative report outlines clear steps the nation must take to develop cost-effective options for cutting carbon emissions at existing coal-fired power plants, Entergy Corporation Chairman and Chief Executive Officer J. Wayne Leonard said Friday.
There is "no credible pathway" toward stringent cuts in greenhouse gas emissions worldwide without addressing coal-fired plants, according to the report released Friday at a press conference here.
Any proposal must pass the "China test," meaning its cost must be low enough "that China and other emerging economies can afford to implement it," said the report, which is based on the March 23 MIT symposium "Retrofitting of Coal-fired Power Plants for CO2 Emissions Reductions."
Entergy, the New Orleans-based utility company, provided funding for the symposium, although less than 10 percent of Entergy's generating capacity is coal fired. The importance of developing a viable method of cutting carbon emissions at existing coal plants is critical, Leonard said.
"The reason for this is simple: We cannot have an effective, sustainable response to climate change without finding a way to clean up emissions from existing coal plants," he said at the press conference.
The report provides three key findings, Leonard said. The report:
"China's logic is understandable "“ most of the CO2 in the atmosphere did come from the developed world, and we do emit more per capita than they do," Leonard said. At the same time, many in this country ask why we should go to all this effort and spend all this money on capping our emissions before China agrees to act.
"And in fact if we cannot find common ground on an agreement to control their rapidly growing emissions, unilateral action on our part to address climate change may turn out to have been money better spent on adaptation. We are at an impasse, but the fact is that we haven't yet done enough to break the impasse," Leonard said. Retrofitting existing plants has the potential to break the stalemate, he said.
Among the report's specific findings and recommendations:
The U.S. and China should be working together, he added. "In fact, our shared mission to manage the issue of coal and climate change could be one of the building blocks of a new, cooperative relationship between the two giants of the climate problem, the U.S. and China," Leonard said.
Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, and it is the second-largest nuclear generator in the United States. Entergy delivers electricity to 2.7 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $13 billion and approximately 14,700 employees.
Use the following link to find Leonard's full remarks from Friday: Speeches
The full report can be found at the MIT Energy Initiative Web site.
Entergy's Web site is entergy.com
Entergy is a Fortune 500 company that powers life for 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi and Texas. We’re investing in the reliability and resilience of the energy system while helping our region transition to cleaner, more efficient energy solutions. With roots in our communities for more than 100 years, Entergy is a nationally recognized leader in sustainability and corporate citizenship. Since 2018, we have delivered more than $100 million in economic benefits each year to local communities through philanthropy, volunteerism and advocacy. Entergy is headquartered in New Orleans, Louisiana, and has approximately 12,000 employees. Learn more at entergy.com and follow @Entergy on social media. #WePowerLife
Corporate Social Responsibility at Entergy
For more than 100 years, Entergy has powered life in our communities through strategic philanthropy, volunteerism and advocacy. Entergy’s corporate social responsibility initiatives help create and sustain thriving communities, position the company for sustainable growth and are aligned with the United Nations Sustainable Development Goals. Our top CSR priorities are education/workforce development, poverty solutions/social services and environmental programs. Entergy annually contributes $16-$18 million in shareholder-funded grants to approximately 2,000 nonprofit organizations in the communities where we operate. In addition, our employees volunteer more than 100,000 hours in those communities' values at more than $3 million.
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