According to Jeremy Rifkin, the Covenant of Mayors and in particular constituent cities, can play a major role in the new energy model of the Third Industrial Revolution.
This Roundtable is currently engaged with American and European cities to move beyond the 20/20/20 targets. It is composed of 100 CEOs of leading North American and European global corporations that are committed to ushering the four pillars of the Third Industrial Revolution to address the triple challenge of global economic recovery, energy security, and climate change. The new paradigm would be based on energy produced with renewable sources (and adequate storage possibilities) by millions of local energy players and fed into a smart multi-directional grid.
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