European oil, gas majors call for carbon pricing systems

Recognizing “the importance of the climate challenge,” six major European oil and gas companies have joined together in calling for governments around the world and 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.”

BP PLC, BG Group PLC, Royal Dutch Shell PLC, Statoil ASA, Eni SPA, and Total SA jointly documented their position in a letter from their chief executives to the UNFCCC Executive Secretary and the president of the COP21 ahead of the UNFCCC’s COP21 climate meetings in Paris in December.

They note that the current trend of greenhouse gas emissions is more than what the Intergovernmental Panel on Climate Change says is needed to limit global temperature rise to no more than 2° C.

Emphasizing the importance of natural gas in reaching their goal, the chief executives wrote, “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.”

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...