Facing the Risk

The approaches and challenges concerning the reduction of greenhouse gas emission by utilities were discussed. The cost of preventing or even reducing the degree of adverse impact on the global climate were far lower than the costs of picking up the pieces after climate-related disaster. The electricity sector, by itself, could not achieve the GHG emissions reductions required for the stabilization targets. The U.S. share of GHG emissions represented 25 percent of the world total. It was important not only to look at the cost, benefits, efficiency, and equity of U.S. climate policy, but also to consider how the policy would interact with international policy to deal with the remaining 75 percent.