Alex Morales
Bloomberg
Monday, June 23, 2008
Alcoa Inc., Royal Dutch Shell Plc and 97 other companies are urging world leaders to devise a plan for fighting global warming by setting greenhouse-gas targets for all nations and creating an international carbon market.
A new climate-change treaty is needed with incentives to capture and store carbon dioxide and protect forests, the 99 companies said in a statement prepared by the World Economic Forum, a Geneva-based business coalition. The group presented the proposals today to Japanese Prime Minister Yasuo Fukuda, who hosts a meeting of the Group of Eight nations next month in Japan.
Oil, power and metal industries are among the biggest emitters of greenhouse gases blamed for global warming. To cut their output in half by 2050, an extra $45 trillion must be invested in clean-air technologies, the Paris-based International Energy Agency said this month. The business group said it wants government guidance on how new climate policies may affect investment decisions.
FULL ARTICLE @ Bloomberg
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