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

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


A Schulman completes acquisition of Citadel

AKRON, US: A Schulman Inc said that it has completed the previously announced acquisition of HGGC Citadel Plastics Holdings Inc, a portfolio company o ...

Read more
Bayer CropScience acquires vegetable seed co SeedWorks India

MONHEIM, GERMANY: Bayer CropScience AG said it has agreed to acquire Hyderabad-based SeedWorks India Pvt Ltd, a company specialized in breeding, produ ...

Read more
Bayer MaterialScience unveils company’s new name ‘Covestro'

LEVERKUSEN, GERMANY: Bayer AG said that the new name of its MaterialScience business will be Covestro, effective 1 Sept and that it intends to float C ...

Read more
Westlake acquires additional interest in Suzhou Huasu Plastics in China

HOUSTON, US: Westlake Chemical Corporation said that it has acquired Ineos ChlorVinyls Holdings BV’s 35.7 percent interest in Suzhou Huasu Plast ...

Read more
Nufarm to distribute Sumitomo products in the UK

VICTORIA, AUSTRALIA: Nufarm Ltd said that its UK business has secured distribution rights for the Sumitomo Chemical Company range of crop protection p ...

Read more
Wacker sets €30-38 per share Siltronic IPO pricing; trading to start 11 June

MUNICH, GERMANY: Wacker Chemie AG (Wacker Group), the current owner of Siltronic AG, and Siltronic said they have set the price range for the planned ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X