PEORIA, — Caterpillar Inc. Chairman and CEO Jim Owens joined a diverse group of businesses and environmental organizations to call on U.S. policymakers to establish a mandatory emissions reduction program to address climate change.

Along with Caterpillar, members of the alliance - known as the U.S. Climate Action Partnership (USCAP) - include market leaders Alcoa, BP America, Duke Energy, DuPont, General Electric, PG&E, PNM Resources and four leading non-governmental organizations - Environmental Defense, Natural Resources Defense Council, Pew Center on Global Climate Change and World Resources Institute.

At a news conference today at the National Press Club in Washington, D.C., USCAP released a set of principles and recommendations as the basis to develop a market-driven policy framework on climate change.

"Caterpillar believes in the need for a market-based approach to the aggressive development of current and future clean technologies that reduce emissions and sustain the environment," Owens said. "As a global manufacturer, we're committed to being part of the process of finding policy solutions that meet the needs of our customers, including those currently involved in energy production. Achieving energy independence for our country will require innovation that leads to new energy sources but also new technologies to improve the use of existing abundant resources such as coal."

"Clean coal, clean diesel and combined heat and power applications are just a few examples of critical technologies that must be a part of any climate change policy. These technologies, coupled with incentives for the development of new, breakthrough approaches will yield increased sustainability and economic opportunity," he said.

Caterpillar supports a U. S. federal-level approach that is well integrated into a harmonized global system of greenhouse gas reduction initiatives, in particular one that avoids local or regional development of separate paths - requiring separate technology - in achieving emissions targets. Proposed solutions also must factor in the broad economic impact as well as the impact on existing energy sectors.

"Reducing greenhouse gas emissions can - and should - provide more economic opportunities than risks for industry and the economy," said Owens. "The goals of reduced emissions and economic growth are not mutually exclusive. As the world's largest maker of construction and mining equipment and a technology leader, one of the reasons that Caterpillar is pleased to have a seat at this table is to focus on market-based solutions to issues that impact manufacturers and key customer groups, especially coal."

A copy of A Call for Action and background information on the U.S. Climate Action Partnership may be found at US-CAP.org.