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.
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