[Weekly Compilation of Presidential Documents Volume 39, Number 7 (Monday, February 17, 2003)]
[Pages 192-193]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on Initiatives To Reduce Greenhouse Gas Emissions

February 12, 2003

    The United States is taking prudent steps to address the long-term 
challenge of global climate change. We are reducing projected greenhouse 
gas emissions in the near term, while devoting greater resources to 
improving climate change science and developing advanced energy 
technologies. America has already made great progress in this effort: 
Between 1990 and 2001, industrial sector emissions were held constant, 
while our economy grew by almost 40 percent. Sustaining and accelerating 
this progress will help us meet our goal of reducing the greenhouse gas 
intensity of the American economy by 18 percent by 2012.

[[Page 193]]

    A year ago, I challenged American businesses to develop new, 
voluntary initiatives to reduce greenhouse gas emissions. I am pleased 
to announce today that 12 major industrial sectors and the membership of 
the Business Roundtable have responded with ambitious commitments to 
reduce their greenhouse gas emissions in the coming decade.
    America's electric utilities; petroleum refiners and natural gas 
producers; chemical, automotive, magnesium, iron and steel 
manufacturers; forest and paper producers; railroads; the mining, 
cement, aluminum and semiconductor industries; and many of America's 
leading corporations have committed to actions that will prevent 
millions of tons of greenhouse gas emissions in the coming decade. I 
commend these initiatives which will help these businesses and 
industries continue to improve their energy efficiency and overall 
productivity, while contributing toward achieving our goal to reduce the 
greenhouse gas intensity of the American economy.
    As I said last year, every sector of the economy will need to 
contribute to our efforts to achieve our ambitious national goal. These 
initiatives are a first step in what we expect to be an ongoing 
engagement with these and other sectors of our economy in the years 
ahead.
    Underpinning our approach to climate change is an understanding that 
meeting this long-term challenge requires policies that recognize that 
sustained economic growth is an essential part of the solution. Policies 
that undermine the health of our economy would only hamper America's 
ability to develop and deploy new energy technologies and invest in 
energy efficiency and productivity improvements. The United States is 
the world's leader in technological development, industrial 
productivity, and environmental quality. These strengths make possible 
the initiatives that have been announced today to reduce or capture and 
store greenhouse gas emissions.