5 million acers of land. The farmers viewed this deal as a good source of income for doing nothing .
In May of 1997, the chief executive of British Petroleum, John Brown, declared that, "to ignore climate changes would be unwise and potentially dangerous." He called for a change and for a rethinking of corporate responsibility. British Petroleum then promised $1 billion in investments torwards solar energy. Brown vowed to reduce its net greenhouse gas emissions by 10% below the 1990 levels by the year 2010. DuPont, once infamous for making harmful chemicals that deplete the ozone, had by 2001 cut its carbon emissions to 45% below the 1990 levels. Shell company promised to follow BP in a 10 % cut by 2010 and United Technologies Corporation promised to lower its carbon emissions by 25 %before the year 2007.
Europeans are world leaders in applying emissions trading, A new emissions trading law has enabled the bloc to act swiftly to meet its emissions limits under the Kyoto Protocol. The emissions trading law is expected to promote innovation, which brings new opportunities to companies within the European Union. The law will, for the first time, set limits on the emissions of carbon dioxide from energy sectors of the European economy. Companies reducing emissions can sell their carbon credits to other companies that are above their emissions limit, or save the credits for future use. The initial focus of the new law is on carbon dioxide.
Eileen Claussen, a former assistant U.S. Secretary of State, quit her job a few months before the Kyoto Protocol was signed. She was frustrated that the government was more concerned with short term challenges than the long term global warming crisis. She then became director of the Pew Charitable Trust where she created the Business Environment Leadership Council. She convinced well known polluters to sign up promising them ads sponsored by the Trust boasting their new "green" accomplishments.
