Article
Big business urges G8 global warming action
Leaders of some of the world's biggest businesses on Thursday increased the pressure on the Group of Eight industrialised nations ahead of a summit on global warming, urging them to set up a system of emissions trading for greenhouse gases that would extend to 2030 and beyond... Steve Lennon, chair of the environment and energy commission of the International Chamber of Commerce, which represents companies in 130 countries, said: “We see a global system of emissions trading as inevitable.” The business leaders called for a “cap-and-trade” system or similar market-based mechanism that would set limits on how much greenhouse gas countries and companies could emit and also “define greenhouse gas emissions rights”...The statement was signed by ABB, Alcan, BP, British Airways, BT, Cinergy, Cisco, Deloitte [Touche Tohmatsu], Deutsche Bank, E.ON, EADS [European Aeronautic Defence and Space], EDF, Eskom, Ford, Hewlett-Packard [HP], HSBC, Petrobras, UES [RAO-UES], Rio Tinto, Siemens, Swiss Re, Toyota, Vattenfall and Volkswagen.