Energy Companies Lend Support for Climate Deal
Some of the world’s largest oil and coal companies lent support on 15 October to a strong climate change deal slated to be hashed out in December that President Obama badly wants to succeed.
Shell and BP joined global mining companies Rio Tinto and BHP Billiton, and a number of other large industrial firms, in a statement endorsing a successful deal. The statement also included Alcoa, Hewlett-Packard, Intel, LafargeHolcim, National Grid, PG&E, Schneider Electric, Calpine, and the Siemens Corp.
The companies are calling for “a more balanced and durable multilateral framework guiding and strengthening national efforts to address climate change.” What this translates to: They want everyone contributing and all countries held accountable.
Although the statement is congenial, it does imply that the companies are concerned that not all the countries will do their fair share, which could make it more difficult for the energy firms to plan for and make investments.