Blue-chip companies, including Shell and BP, have given their strong support for the adoption of a new global climate agreement at the UN Climate Change Conference this December in Paris.
In a statement organised by the Center for Climate and Energy Solutions (C2ES), the companies called for “a more balanced and durable multilateral framework guiding and strengthening national efforts to address climate change.”
The Paris agreement, the companies said, should commit countries to undertake nationally determined efforts to reduce greenhouse gas emissions; provide strong transparency to hold countries accountable; require periodic renewal of national contributions to progressively strengthen the global effort; and facilitate global carbon markets.
“We recognize the rising environmental, social, economic, and security risks posed by climate change, and that delaying action will result in greater risks and costs,” the statement said.
“We stand ready to work with governments and our civil society partners to deliver and implement a sensible and effective global climate agreement in Paris.”
The statement was endorsed by Alcoa, Alstom, BHP Billiton, BP, Calpine, HP, Intel, LafargeHolcim, National Grid, PG&E, Rio Tinto, Schneider Electric, Shell, and Siemens Corporation.
The companies have combined revenues of $1.1trillion and more than 1.5 million employees.
C2ES president Bob Perciasepe said: “These are companies with real skin in the game – either they’re large emitters or their products are.
“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.”
“These leading companies support a Paris agreement that gets all the major economies on board, provides stronger long-term direction, and holds countries accountable.”
Governments are in the final stages of a four-year round of negotiations toward a new global agreement under the 1992 UN Framework Convention on Climate Change (UNFCCC). The agreement is to be concluded at the 21st session of the Conference of the Parties (COP 21) set for Nov. 30-Dec. 11 in Paris.