Responding to Global Climate Change
We are working with stakeholders to promote a climate change policy that will result in long-term greenhouse gas reductions that most climate scientists think are necessary. An acceptable policy must also protect customers in states that depend on coal-fired generation. Twenty-five states receive more than half of their electric power from coal-fired sources. They must not bear an unfair share of the economic burden of the transition to a low-carbon economy.
In last year’s report, we shared our view on global climate change policy. In 2007, we continued to advance policy priorities designed to reduce greenhouse gas emissions while minimizing economic and social disruption to our customers and economies.
Reducing Greenhouse Gas Emissions
Duke Energy is the third largest emitter of carbon dioxide in the U.S. While we don’t know the specific timing or requirements of federal carbon legislation, we do know that it is coming. And, we know that the decisions we make today about energy production and use can help build bridges to a low-carbon future.
As discussed earlier in this report, we are evaluating what it would take to cut our 2006 CO2 emissions in half – by approximately 50 million tons – by 2030. Clearly, many things can happen between now and 2030, and a number of things must happen if we’re going to be able to achieve this level of emission reduction while meeting projected demand and keeping electric rates competitive.