World business leaders praised President George W. Bush for recognizing climate change as a significant issue and urged for long-term emissions standards to aid in their planning. Despite Bush's refusal to endorse mandatory limits on carbon emissions in his State of the Union speech, companies like General Electric Co. have advocated for such regulations. Instead, Bush supported the development of new technologies to reduce gasoline consumption in the U.S. Corporate executives at the World Economic Forum in Davos welcomed the White House's acknowledgment of alternative energies like ethanol, wind, solar, and nuclear power, but urged for stricter U.S. emissions standards to be implemented. Duke Energy CEO James Rogers emphasized the importance of future regulations in investment decisions, as power plants built today will be in use for the next 50 years. Rogers and Alcoa CEO Alain Belda both emphasized the importance of being proactive and prepared for new regulations, with Belda advocating for a unified climate change agenda in the United States to reduce risks for companies investing in emissions-cutting technologies. Belda also highlighted the potential for US leadership to influence other countries to strengthen their emissions regulations. In Japan, Yvo de Boer, the head of the United Nations Climate Secretariat, viewed Bush's environmental messages as a positive sign that the U.S. is changing its stance on climate issues. Former German environment minister Juergen Trittin also saw potential for improved transatlantic cooperation in the fight against climate change. However, some critics felt that the speech was inadequate, with renewable energy expert Sven Teske noting that it lacked a comprehensive plan and real policy shift. Diane Wittenberg of the California Climate Registry expressed disappointment in Bush's speech. "He began at a disadvantage and never caught up," she said, pointing out that a majority of climate change leadership in the United States has come from state governments and the private sector, who are working towards influencing future environmental policies in their favor. "Businesses realize that climate change will create new winners and losers in the business world, and they want to be among the winners," she explained. A recent survey by PricewaterhouseCoopers at Davos revealed that 40 percent of 1,100 global CEOs are worried about the risks posed by climate change, with only 18 percent of U.S. CEOs sharing this concern. Mark Spelman, head of European strategy at Accenture, mentioned that the increased focus on environmental issues by corporations is partly a PR move to attract environmentally conscious consumers, but also reflects long-term considerations about future energy costs. "Forward-thinking CEOs can anticipate that the cost of carbon will rise in the future, impacting long-term profitability, so staying ahead of the curve will benefit the company," Spelman added. Some individuals view the shift towards a new clean or low-carbon economy as a chance for commercial success. Citigroup has identified 74 companies that could profit from this transition, such as clean energy companies, water utilities, and car manufacturers.