If one was to take a forward looking perspective, companies and businesses that move in the direction of deep cuts in greenhouse gases emissions would be both responsible and successful. Those that lag behind would suffer from losses in the market place and loss of reputation. The same prospect would apply to nations. There would be a dramatic loss of political power and influence for nations that stand unmoved by the growing global consensus for urgent “deep cuts” in emissions of greenhouse gases.
An active role by the US in mitigation measures would enable the achievement of global stabilization targets, as the US currently account for 22% of global greenhouse gases emissions. US leadership would also prompt other large emitters to take action. It would ensure the competitiveness of US companies in world markets dominated by low carbon products. It would finally re-establish confidence in US leadership on critical global issues.Summary of testimony by R.K. Pachauri