by Stacy Morford -
Sep 28th, 2009
The U.S. Chamber of Commerce is beginning to bleed members over its staunch opposition to climate legislation intended to reduce the nation's global warming emissions.
John Rowe, CEO of one of the nation’s largest electric utilities, announced the group's latest loss today: Exelon, a $19 billion company with 5.4 million electricity customers, will not renew its membership in the once-essential business group.
Exelon was the third utility in a week to announce it was leaving the Chamber, and one of a growing number of companies urging the business group's executives to change their tune on climate action. Another member, Nike, is under pressure from shareholders, who will be urging the company in a letter tomorrow to also dump the Chamber.
Rowe explained his support for climate legislation while announcing his company's intentions to leave the Chamber during the American Council for an Energy Efficient Economy national conference this morning:
“The carbon-based free lunch is over," the Exelon CEO said. "But while we can’t fix our climate problems for free, the price signal sent through a cap-and-trade system will drive low-carbon investments in the most inexpensive and efficient way possible.”
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