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Green equals growth, OECD says

Dec. 1, 2010 at 11:00 AM

PARIS, Dec. 1 (UPI) -- Energy conservation is an obvious way to reduce emissions, though a report from Paris found paying for carbon would help even more.

The Organization for Economic Cooperation and Development found that of the 63 companies taking part in an energy survey, 61 told the organization conservation was an obvious first step in reducing emissions.

An OECD report on the transition to a low-carbon economy found many companies have embraced the challenges of developing a business strategy that considered the implications of climate change.

Angel Gurria, secretary-general of the OECD, said his organization found "green" and "growth" can work together to address climate challenges.

"Substantial green investment makes economic sense and can support effective climate policies," he said in a statement.

About 80 percent of the Global 500 companies are reporting their greenhouse gas emissions. The OECD said this was an important management issue, but more could be done to adopt global standards.

"For companies to go further and adopt more ambitious measures -- reduce waste, adopt low-carbon technologies, and shift to renewable energies -- stronger government policy measures are needed, including putting a price on carbon," the OECD said.

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