Some of the world’s largest oil and coal companies lent support Thursday to a strong climate change deal slated to be hashed out in December that President Obama badly wants to succeed.
Shell and BP joined global mining companies Rio Tinto and BHP Billiton, and a number of other large industrial firms, in a statement endorsing a successful deal. The statement also included Alcoa, Hewlett-Packard, Intel, LafargeHolcim, National Grid, PG&E, Schneider Electric, Calpine and the Siemens Corp.
The companies are calling for “a more balanced and durable multilateral framework guiding and strengthening national efforts to address climate change.” What this translates to: They want everyone contributing and all countries held accountable.
Although the statement is congenial, it does imply that the companies are concerned that not all the countries will do their fair share, which could make it more difficult for the energy firms to plan for and make investments.
Related Story: http://www.washingtonexaminer.com/article/2574118/
The statement was organized by the nonpartisan Center for Climate and Energy Solutions, headed by former Environmental Protection Agency deputy administrator Bob Perciasepe.
“These leading companies support a Paris agreement that gets all the major economies on board, provides stronger long-term direction, and holds countries accountable,” Perciasepe said.
“These are companies with real skin in the game — either they’re large emitters or their products are,” Perciasepe added. “They know emissions need to come down and are taking steps on their own. But they believe the low-carbon transition requires stronger leadership from governments, too.”
The United Nations will convene all nations in Paris beginning Nov. 30 to negotiate and sign a deal to limit greenhouse gas emissions through the middle of the century. Many scientists blame the emissions for increasing the Earth’s temperature, resulting in more floods and droughts.
The companies’ statement follows a number of large banks coming out in support of a strong agreement in Paris. It also comes as a new study from the conservative Manhattan Institute on Thursday says without a way of coercing developing nations to abide by emission reductions, the agreement will fail.
The industry statement says the companies want “strong transparency to hold countries accountable.” They also want to require “periodic renewal of national contributions to progressively strengthen the global effort; and facilitate international carbon markets.”
“The agreement should, at a minimum, include all of the world’s major economies.”
