Oil majors are pushing for scheme to limit emissions as they face growing criticism surrounding global warming
By Andrew Critchlow, Commodities editor: 01 Jun 2015
Europe’s biggest oil companies, including Royal Dutch Shell and BP, have written an open letter calling for a binding global system of carbon trading in a bid to head off climate change critics.
In a joint statement, the chief executives of Shell, BP, Total, Eni, Statoil and BG Group said: “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.”
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