Apr 22 2008

Day Two: Fortune Green Brainstorm

Posted by: Keely Wachs

Pasadena - Following a stellar first day and a very fun evening with Chuck Leavell at the piano bar, the Fortune Green Brainstorm's second day brought more thought provoking discussion.

The morning started with Todd Woody's electric car panel. Participants included Elizabeth Lowery of General Motors, PG&E's Peter Darbee and Jan-Oluf Williams of Think Global AS. 

The conversation highlighted the benefits of the electrification of the auto industry - inexpensive and clean fuel sources, and energy independence.  The panel also highlighted challenges, like the need to bring more electric vehicles on to the market.  GM is planning on mass producing its Volt model in the 2009 time frame.  Think Global is also working on selling 30,000-45,000 vehicles globally in the next few years.  Other challenges include battery advancements and the need for greater infrastructure to support these vehicles.

One notable statement by Peter as noted in Todd's latest Green Wombat post is that he would like to replace the oil industry.  In the context of the conversation, Peter was saying that we would like to give our customers more choice in how they use energy in the home and in the way that they use transportation. 

Darbee added that if you look at the carbon emissions from an electric vehicle powered by a clean utility like Exel, Entergy, FPL or PG&E vs. oil, the environmental benefits are tremendous.

Following the panel several attendees asked Peter if we were interested in the electrification of the auto industry because it means that we will sell more energy.  We spent some time explaining California's decoupling laws and how we do not make more money by selling more energy.

Later in the day, famed venture capitalist Vinod Khosla, countered the electric vehicle movement by saying that cellulosic ethanol is a much more cost effective and environmentally source of fuel. 

Another interesting panel was Adam Lashinsky's interview of Bjorn Lomborg of the Copenhagen Consensus Center.  The author of the "Skeptical Environmentalist" and "Cool It" offered a very reasoned perspective on why climate change and other environmental problems should be dealt with in a responsible way.  

The day also featured two CEO interviews with Hugh Grant of Monsanto and Michael Dell of the eponymous computer company.  The range of issues and sectors reflected in these conversations illustrates the breadth of the green movement in global business.  It's everywhere and on everyone's mind.

The question then is: what next?  We all recognize the need to act and the real economic and environmental benefits with these actions.  But I couldn't help but feel that there is still some confusion about where companies should be focusing their efforts.

I think that this is where effective public policy can play a huge role.  I touched on this subject in yesterday's post.  Clear market signals from our policy makers in D.C. will really help to answer the "what next?" question, especially as it relates to the climate change challenge.     

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