COP21: Business seeks global carbon pricing at climate summit

Author: Michael Stothard, Financial Times (UK), Published on: 7 December 2015

Amid the cacophony of competing interests at the Paris climate summit…Businesses are aware that…there is a danger that emission reductions will come from painful and complex top-down government mandates. What they want instead is a framework for encouraging global carbon pricing, preferably through a system of tradeable permits, known as cap and trade. The introduction of such a scheme would ensure that emissions are cut as cheaply and efficiently as possible and with less government meddling, say many in business…Businesses…want…a way to make sure that there is a unified way of measuring each country’s emissions…Second, the final agreement could create an independent body that would…be able…to define a unit of carbon pollution…register, track and account for each unit…Third, this…body could also manage carbon credits…This could unify a plethora of existing bodies…It is not clear, however, whether all these policies will make it into the “agreement”...[Also refers to Airbus, BG Group, BP, Chevron, L’Oréal, Publicis, and Rio Tinto.]

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Related companies: Airbus BG Group (part of Shell) BP Chevron EADS (European Aeronautic Defence and Space) L'Oreal Publicis Rio Tinto