Six oil gas majors call carbon pricing, policy framework

Six oil and gas majors call for carbon pricing, policy framework

7:39 AM, 2nd June 2015
Six oil and gas majors call for carbon pricing, policy framework
United Nations framework convention on climate change (UNFCCC).

LONDON, UK: Six major oil and gas companies, BG Group Plc, BP Plc, Eni SpA, Royal Dutch Shell Plc, Statoil ASA and Total SA, announced their call to governments around the world and to the United Nations framework convention on climate change (UNFCCC) to introduce carbon pricing systems and create clear, stable, ambitious policy frameworks that could eventually connect national systems. These would reduce uncertainty and encourage the most cost effective ways of reducing carbon emissions widely.

The six companies set out their position in a joint letter from their chief executives to the UNFCCC executive secretary and the president of the COP21. This comes ahead of the UNFCCC’s COP21 climate meetings in Paris this December.

With this unprecedented joint initiative, the companies recognize both the importance of the climate challenge and the importance of energy to human life and well-being. They acknowledge the current trend of greenhouse gas emissions is in excess of what the intergovernmental panel on climate change said is needed to limit global temperature rise to no more than 2 degrees centigrade, and said they are ready to contribute solutions.

As the chief executives write:

“Our industry faces a challenge: we need to meet greater energy demand with less CO2. We are ready to meet that challenge and we are prepared to play our part. We firmly believe that carbon pricing will discourage high carbon options and reduce uncertainty that will help stimulate investments in the right low carbon technologies and the right resources at the right pace. We now need governments around the world to provide us with this framework and we believe our presence at the table will be helpful in designing an approach that will be both practical and deliverable.” (Helge Lund - BG Group Plc; Bob Dudley - BP Plc; Claudio Descalzi - Eni SpA; Ben van Beurden - Royal Dutch Shell Plc; Eldar Sætre - Statoil ASA; Patrick Pouyanne - Total SA).

The chief executives also sent an additional letter to be published in newspapers, setting out this position on carbon pricing and also the role that natural gas can play in reducing carbon emissions.

© Worldofchemicals News



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