US power giant will spend $10b to slash gas emissions
18 Jul 2008
The United States’ largest electricity and gas utility, Exelon, has released a $10 billion plan to eliminate or offset its carbon dioxide emissions, positioning itself ahead of expected federal climate change legislation.
Exelon said it plans to spend $10 billion by 2020 on reducing and offsetting more than 15 million tonnes of greenhouse gas emissions.
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So far, carbon markets have not led to a promised decrease in planet-heating emissions – and efforts to tighten standards have yet to prove their worth.
