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The Guardian - UK
The Guardian - UK
World
Mark Tran

The business of climate change

As a technology company, Unisys is not affected as much as other sectors - oil and cars, for example - in the debate on climate change.

Joseph McGrath, the chief executive of Unisys, says his company has not taken an official line either way on climate change. But as far as he is concerned, he is in no doubt - unlike George Bush - that global warming is a scientific fact.

"I am surprised by the attitude of the US government," he told Guardian Unlimited at a business conference. "The science has proved it."

Asked whether the president, who is refusing to back Tony Blair on climate change at the risk of ruining the G8 Gleneagles summit, is a captive of the oil lobby, Mr McGrath declined to badmouth Mr Bush directly.

"He is a pure capitalist, he believes in unfettered capitalism, but we need the right balance," Mr McGrath said diplomatically.

Other chief top US executives have also expressed concern about Mr Bush's head-in-the-sand attitude towards climate change.

Jeffrey Immelt, the boss of General Electric, the largest company in America, has argued for mandatory controls on carbon dioxide emissions. In another sign that Wall Street is ahead of the White House, a syndicate of institutional investors in New York managing $3 trillion in assets recently asked US companies to confront the risks of global warming.

We could be seeing a fissure opening in corporate America. On one side will be Exxon and other oil giants, on the other will be the more far-sighted companies such as General Electric.

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