Roosevelt great-grandson addresses climate summit listen07/16/07 SeÃ¡n Kinane
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This morningâ€™s Keynote Address at the climate change summit was by Theodore Roosevelt IV, the great-grandson of President Theodore Roosevelt.
Roosevelt is a conservationist and chair of the Pew Center for Global Climate Change. He said he favors mandatory regulations regarding carbon dioxide emissions over voluntary cuts. Two ways to regulate emissions are through a carbon tax through a cap and trade system.
Roosevelt said he favors the cap and trade because that would set absolute carbon dioxide emissions limits and companies could purchase rights to pollute using an auction system. Putting a price on carbon might cause energy prices to rise, so Roosevelt wants to make sure that the economically disadvantaged are not hurt.
Reducing emissions doesnâ€™t necessarily mean higher prices and lower profits, even if there is a carbon tax. Roosevelt gave the example of DuPont, a company who decided in 1999 to reduce its carbon emissions and the move was an extremely profitable decision.
Investing in alternative energies to battle climate change, can also create jobs, according to Roosevelt.