Abby L. Harvey
GHG Monitor
10/16/2015
A group of 14 large corporations, including several involved in the carbon capture, utilization, and storage industry, this week issued a statement in support of a strong climate agreement at the upcoming global negotiations in Paris. “We support the aim of a more balanced and durable multilateral framework guiding and strengthening national efforts to address climate change. We believe the Paris agreement should commit all parties 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 international carbon markets. The agreement should, at a minimum, include all of the world’s major economies,” the group stated.
The statement was developed by the Center for Climate and Energy Solutions and signed by Alcoa, Alstom, BHP Billiton, BP, LafargeHolcim, National Grid, Rio Tinto, Shell, and Siemens, which all have or have had involvement in CCS, as well as Calpine, Hewlett-Packard, Intel, PG&E, and Schneider Electric.
The December negotiations at the 21st Conference of the Parties (COP21) of the United Nations Framework Convention on Climate Change (UNFCCC) in Paris are hoped to result in a new international climate agreement. It would replace the Kyoto Protocol, which will expire in 2020.
The group called for an agreement with four key characteristics: long-term direction in the form of clear market signals toward a shift to a decarbonized economy, promoting transparency, addressing competitiveness, and facilitating carbon pricing.
“An effective response to climate change requires strong government leadership, and presents both enormous challenges and significant economic opportunities for the private sector. As businesses concerned about the well-being of our investors, our customers, our communities and our planet, we are committed to working on our own and in partnership with governments to mobilize the technology, investment and innovation needed to transition to a sustainable low-carbon economy,” the letter says.
