International

Climate change is a global challenge and requires a global solution. Through analysis and dialogue, the Center for Climate and Energy Solutions is working with governments and stakeholders to identify practical and effective options for the post-2012 international climate framework. Read more

 

International transparency provides domestic benefits

A central feature of the Paris Agreement is a stronger transparency system requiring countries to regularly report on their emissions and their national climate efforts.  

At the international level, this provides a critical means of accountability by letting countries see whether others are sticking to their commitments.

But one of the key messages that emerged at last month’s U.N. climate negotiations in Bonn, Germany — including at a side event organized by C2ES — is that greater transparency has important benefits back at home, too.

The May climate meeting, the first since negotiators adopted the Paris Agreement, featured a first-ever facilitative sharing of views (FSV) for developing countries. Thirteen developing country parties gave presentations on their first biennial reports on their efforts to reduce emissions, required under the 2010 Cancún Agreements, and responded to questions from other parties.

These countries, were applauded for their efforts and their achievements. Most of them focused on the challenges they faced in fulfilling their reporting obligations, the lessons learned in addressing or overcoming these obstacles, and what they might need to do more.

Many of these lessons were echoed in a C2ES side event, “Learning from UNFCCC Transparency Experience: Perspectives of Parties and Expert Reviewers.” The event featured negotiators and technical experts from Canada, the European Commission, New Zealand, South Africa and Brazil, with the latter two countries just having completed the FSV.

Both developed and developing countries said compiling their reports benefited them domestically by stimulating regular conversations among various levels of government and with nongovernment stakeholders. The process also helped institutionalize measurement, reporting and verification (MRV), and identified opportunities to strengthen domestic climate policies.

In two other side events hosted by the UNFCCC secretariat, Uruguay, Vietnam, Ghana and Peru reflected on their experiences under the existing transparency framework. Regular reporting and review is a significant undertaking, and they learned how much time and coordination is required. Even so, their initial experiences proved to be interactive and facilitative. Countries were provided assistance in their own language, and could communicate easily with experts and staff through technology like Skype.

The co-chairs of a new working group that will develop detailed decisions implementing the Paris Agreement also took up these themes, asking parties to share their experiences and lessons learned from the existing MRV arrangements. These lessons will also inform the next session of FSV, which will take place in Marrakech, Morocco, during COP 22.

Parties hope these lessons will inform the new rulebook that must be developed for the “enhanced transparency framework” called for in the Paris Agreement. One of the key takeaways is that by learning as they go, countries significantly improve the quality of their reporting, and their own policymaking becomes more effective as a result.

 

 

Bob Perciasepe statement on US-India climate efforts

Statement of Bob Perciasepe
President, Center for Climate and Energy Solutions

June 7, 2016

On US-India efforts on climate change:

The United States and India are taking another positive step toward a low-carbon future with Tuesday’s joint statement on climate and clean energy. Prime Minister Modi’s announcement that India will strive to ratify the Paris Agreement by the end of the year puts the agreement closer to entering into force and builds momentum for more nations to do the same. The sooner the agreement takes effect, the sooner all nations can begin fulfilling its promises.

The pledge of cooperation between the two nations on phasing out hydrofluorocarbons (HFCs) under the Montreal Protocol is also encouraging news. Curtailing this potent greenhouse gas will further accelerate efforts to avoid further warming and reduce global temperatures by the end of the century.

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To speak to a C2ES expert, contact Marty Niland at nilandm@c2es.org

About C2ES: The Center for Climate and Energy Solutions (C2ES) is an independent, nonprofit, nonpartisan organization promoting strong policy and action to address the challenges of energy and climate change. Learn more at www.c2es.org.

Elliot Diringer's remarks at the APPEA Conference

PREPARED REMARKS BY ELLIOT DIRINGER

EXECUTIVE VICE PRESIDENT, CENTER FOR CLIMATE AND ENERGY SOLUTIONS

THE PARIS CLIMATE AGREEMENT: A TURNING POINT FOR THE OIL AND GAS INDUSTRY?

APPEA CONFERENCE

BRISBANE, AUSTRALIA

JUNE 6, 2016

Thank you, Martin, for the kind introduction.  And my thanks to APPEA for inviting me to be with you here this morning.

I appreciate the opportunity to share some views on the landmark Paris Agreement, and on its implications not only for the future of natural gas, but for the future of the oil and gas industry as a whole.

I’d like to touch on five areas:

  • First, the logic, and the most pertinent aspects, of the Paris Agreement;
  • Second, what the agreement’s long-term goals imply for future energy use;
  • Third, how the Paris Agreement is intensifying social and political pressures on the fossil fuel industry;
  • Fourth, how I see the industry responding; and
  • Finally, some thoughts from an interested observer on how the industry can work to ensure a more sustainable path for itself, and for the planet.

First, though, I’d like to tell you who we are. C2ES is a US-based NGO working to advance practical and effective climate policies in the United States and internationally.

We’re an independent organization, but we work closely with major companies committed to addressing climate change. 

Our Business Environmental Leadership Council includes 30 companies, most in the Fortune 500. They span the major sectors of the economy, and include large energy producers and consumers, including three members of APPEA – BHP Billiton, BP and Shell.

In addition to our work with companies, C2ES undertakes in-depth policy analysis, and we facilitate dialogue among diverse stakeholders. One recent example is the role we played behind the scenes convening informal discussions among governments leading up to the Paris conference last December. 

Over 15 months, we brought together senior negotiators from two dozen countries – Including Australia – for eight very candid, very in-depth sessions debating the key issues and the best options. The report we drew from these discussions and released last July laid out the essential landing zones for the agreement that was concluded five months later in Paris.

From our perspective, it’s a good agreement, one with the potential to be truly transformative. The Paris Agreement draws lessons from the past 20 years of climate diplomacy to establish a more pragmatic and more inclusive framework for global action. 

It’s what we describe as a hybrid agreement; it combines bottom-up and top-down features to strike the right balance between national flexibility, to achieve broad participation, and international rigor, to ensure accountability and to promote rising ambition.

The strong, high-level political momentum that produced the Paris Agreement is continuing. 

  • More than 170 countries signed the agreement when it was formally opened for signature in April in New York. 
  • The United States and China have said they will soon go the next step and complete their domestic approval procedures. 
  • And there are strong signs the agreement will formally come into force as early as this year, but more likely next – much earlier than had been anticipated.

So what, specifically, does the agreement require?

  • It commits all parties to make national contributions, backed up by domestic mitigation measures;
  • It commits them to regularly report on their emissions and on their progress in implementing their contributions;
  • And it commits them to update their contributions every five years.

These contributions are nationally determined – every country decides for itself what it will do – and they are not legally binding. But the binding procedural commitments – to regularly report, and to periodically update your contribution – will provide stronger accountability, and should work to promote rising ambition.

Rising ambition toward what? The agreement sets a number of long-term goals. It sets a temperature goal: keeping warming well below 2 degrees Celsius, and striving to limit it to 1.5. And it sets two emissions-related goals: first, to peak global greenhouse gas emissions as soon as possible; and second, to achieve net zero emissions in the second half of the century. 

I’ll repeat that: net zero emissions in the second half of the century.

Of course, the agreement itself can’t ensure that these goals are met. But it establishes mechanisms that will periodically call the question; that will periodically require us to consider – both in capitals and at the global level – whether our near-term actions are in line with these long-term objectives.

So what do these long-term goals imply for the future of fossil fuels? 

First, they quite clearly suggest that we need to shift as rapidly as possible to lower-carbon sources of energy – which leads me, of course, to the promise of natural gas.

In the United States, we know firsthand the important role that affordable natural gas can play in reducing emissions. 

  • By our calculation, more than half the cut in carbon emissions from the U.S. power sector achieved over the past decade came from the substitution of natural gas for coal. 
  • Natural gas has risen from 19 to 33 percent of our generation mix. 
  • Going forward, we anticipate bigger increases in natural gas use as the U.S. works to further reduce power sector emissions.

How representative is the U.S. experience? Is it an isolated example? Or is it replicable in other major regions of the world?

The answers depend heavily on local and regional circumstances. But one thing seems clear: the case for natural gas as a bridge fuel really only holds if its increased use is accompanied by a corresponding decline in the use of higher-carbon fuels. 

The International Energy Agency forecasts that, under a business-as-usual scenario, natural gas will be the fastest growing fossil fuel through 2040, with global consumption increasing by 70 percent. But the IEA also forecasts that coal use will continue to rise as well.

Here’s another thing that seems clear: The climate benefits of natural gas can be realized only if we do a much better job reducing flaring and reducing methane leakage throughout the natural gas value chain. 

I know that estimates of leakage vary widely. But whatever the real levels, they are too high. And there are cost-effective measures available to bring them down. What’s standing in the way?

And here’s one more thing that seems clear: Let’s say we can ensure that rising natural gas use substitutes for, rather than supplements, coal use. And let’s say we do a fabulous job reducing flaring and leaks. That’s still not enough.

Remember, the goal is net zero emissions in the second half of the century. Natural gas is a lower-carbon fuel. It’s not a no-carbon fuel. 

So if we envision producing and burning growing quantities of natural gas, we need ways to keep the resulting carbon emissions from reaching the atmosphere. Which leads me to the role of carbon capture utilization and storage – CCUS.

The IEA calculates that nearly 15 percent of the emission reduction needed by 2050 to put us on a 2-degree pathway must come from CCS.

Billions have been invested in CCS and we’re making some headway. I understand that here in Australia, the Gorgon CO2 Injection Project – which is expected to be the largest CO2 storage project in the world – is projected to come on line next year. That will be a critical milestone.

We also need to be thinking about the “U” in CCUS – utilization. Just recently we’ve heard promising developments on that front.

The Ford Motor Company announced a project to capture carbon from its manufacturing emissions. They’re going to use that carbon to make the foam put in auto seats and interiors.

And last month, Exxon Mobil announced it’s expanding its partnership with FuelCell Energy. They’re working on a technology that can capture CO2 from coal and natural gas plants and use it to power fuel cells. 

Breakthroughs like that are exactly what we need if we’re ever going to come close to achieving carbon neutrality.

I‘ve talked about some of the technological challenges your industry faces in navigating its way into a low-carbon future. I want to turn now to some of the social and political challenges you face coming out of Paris.

It’s no news to you that the fossil fuel industry faces growing opposition on many fronts. I understand that last month in Newcastle, 2,000 activists managed to shut down the world’s largest coal port for a day, one of 20 coordinated actions against fossil fuel installations on six different continents.

For a large and growing activist community, the Paris Agreement sounded the death knell for the fossil fuel industry. 

These activists are committed to pulling every lever they can, under the agreement or elsewhere, to realize their vision of a fossil-free future. And they don’t necessarily distinguish among fossil fuels – for them, the potential carbon benefits of natural gas are outweighed by other perceived risks.

This is not a ragtag band of protestors. It’s an increasingly sophisticated movement, with significant resources, that is getting attention on Wall Street and among policymakers. 

Companies are under growing pressure to disclose – indeed, in the U.S., some are under investigation for alleged failure to disclose – and investors are under growing pressure to divest.

  • The governor of the Bank of England, Mark Carney, drew a fair bit of notice a few months back when he warned of rising financial risks related to climate change. 
  • Just a couple of weeks ago, at the Exxon and Chevron shareholder meetings, resolutions calling on the companies to conduct climate-related stress tests were only narrowly voted down.
  • Later this year, we’ll hear recommendations on the disclosure of climate-related financial risks from a Financial Stability Board task force chaired by Mike Bloomberg. 

A recent headline in the Huffington Post showed how the issue is being portrayed to the public. Here’s how it read: “Climate Change Poses A Big Risk To Your Retirement Savings.” 

Alongside the article, I noticed a link to an online petition. The message?  “Tell world governments: Keep 80 percent of fossil fuels in the ground.”

My message is that these pressures will not fade away. More likely, they will continue to grow.

So, how, so far, is the industry responding?  From where I sit, it’s a mixed picture.

On the one hand, I see companies investing in alternative technologies that could help them diversify. 

  • I mentioned Exxon’s investment in a novel fuel cell technology. 
  • It’s been reported that Shell is creating a separate division focused on low-carbon power. 
  • Total is spending a billion dollars to acquire an advanced battery manufacturer. 
  • Statoil is developing a utility-scale battery system to go with its offshore wind farms.

I also see some companies – some CEOs, even – signing on to statements in support of policies such as carbon pricing. At the same time – while these are exactly the kinds of investments we need – they represent a tiny fraction of these companies’ assets.?

I hear policymakers saying that when it comes down to brass tacks, and they put specific policy proposals on the table, industry support is nowhere to be found. And I hear some companies arguing that the Paris Agreement is a lot of wishful thinking; that governments won’t follow through; and that climate change poses no real risk to their business models.

So does the Paris agreement represent a turning point for the oil and gas industry? For the moment, at least, it seems to depend who you ask.

My organization is about building common ground, because we believe that’s the only way to make real progress. We worry when we see signs that the demonizing tactics of one side lead the other side to simply dig in. No one’s going to win that way.

We know there’s no solution to climate change without business. But we believe real and lasting solutions are possible only if business shows leadership, rather than fobbing the responsibility off entirely on governments. Governments, on the whole, are showing greater resolve than ever on climate change. But who are we kidding? They can’t possibly do it on their own.

There’s probably no convincing the zealots that the oil and gas industry has a legitimate role in a carbon-constrained future. 

But it seems to me you need to do a better job convincing the many others who are not zealots, but who are increasingly, and quite reasonably, concerned about the genuine risks posed by climate change.

I’m not a business analyst. I can’t advise companies on how to best serve the interests of their shareholders. But in the interest of achieving consensus solutions, and avoiding prolonged gridlock, I would offer three suggestions:

First, I would urge the industry to rapidly scale up investment in low-carbon energy; in carbon capture, utilization and storage; and in other viable means of sequestering carbon.

Second, I would urge the industry to chart, and to clearly articulate, a long-term vision for itself that is compatible with climate protection.

And third, I would urge companies to come to the table, roll up their sleeves, and work with policymakers and other stakeholders to enact and implement the policies we need to facilitate a smooth low-carbon transition.

To sum up, the Paris Agreement marks a critical turn in the global climate effort. It sets ambitious goals, and it guarantees a succession of highly visible political moments when our efforts will continually be held up against those goals. 

And this puts the oil and gas industry at a crossroads.

Yes, natural gas can be part of the solution. But the broader question is whether the industry will cling as long as possible to its established business model; or whether it will choose to reinvent itself – to work with others to deliver the policies, the technologies, and the investment needed to ensure a more sustainable path for itself, and for the planet. 

To me, at least, the choice is clear.

Again, I appreciate the opportunity to share these views. And I thank you for listening.

US can reach its Paris Agreement goal

After witnessing the historic signing of the Paris Agreement by 175 nations, we now need to turn our attention to fulfilling its promise.

As its nationally determined contribution to the agreement, the United States set a goal of reducing net greenhouse gas emissions 26 to 28 percent below 2005 levels by 2025. In a new paper, C2ES outlines how expected and in-place policies could get us close to the goal line -- reducing emissions by as much as 22 percent. Getting the rest of the way can likely be achieved through a mix of additional policies, city and business action, and technological innovation.

The chart above illustrates how U.S. emissions can be reduced almost 22 percent below 2005 levels by 2025. The rest of the gap with the INDC submitted for the Paris Agreement can be achieved through a mix of additional policies, city and business action, and technological innovation.

First, let’s look at how we can get to a 22 percent reduction.

U.S. net emissions are already down more than 9 percent from 2005 levels due to market- and policy-related factors, including a shift in electricity generation from coal to natural gas, growth in renewable energy, level electricity demand, and improved vehicle efficiency.

The C2ES business-as-usual forecast, drawn from a number of analyses, projects an additional 5.6 percent reduction in net emissions through such policies as greenhouse gas standards for vehicles and the Clean Power Plan.

The rest of the anticipated emissions reductions is expected to come from new, higher estimates of future carbon sequestration and additional measures under development, including steps to strengthen fuel economy standards for medium- and heavy-duty trucks, reduce methane emissions in the oil and gas sector, and reduce hydrofluorocarbons (HFCs).

Now, how will we address the remaining gap of at least 270 million metric tons carbon dioxide equivalent?

Additional federal policies would help. For example, greenhouse gas standards could be set for major industrial sectors under section 111(d) of the Clean Air Act, the same section that underlies the Clean Power Plan.

Technological advances that lower the cost of emissions reduction will also undoubtedly play an important role. Over the next five to 10 years, battery storage technologies are expected to improve by a factor of 10, which would support the integration of more renewable generation. A promising design for a natural gas power plant with nearly 100 percent carbon capture will enter the demonstration phase next year and could be commercialized soon after. And agricultural advances are leading to more sustainable crops able to sequester more carbon dioxide in their root systems.

Stronger efforts by cities will also be critical to filling the gap. A growing number of cities are working to improve the energy efficiency of residential and commercial buildings, which account for for 41 percent of total U.S. energy consumption. Greater adoption of Property Assessed Clean Energy (PACE) programs, which help finance energy efficiency and renewable energy projects, could significantly reduce city energy demand. Similarly, city programs to build out infrastructure to increase the adoption rate of electric vehicles will, in-time, appreciably lower transportation-related emissions.

Companies, too, will play a key role. Twelve leading companies signed the C2ES statement calling on governments to quickly join the Paris climate pact and pledging to work with countries toward the domestic measures needed to achieve their national emissions-cutting contributions. More than 150 U.S. companies with a combined market capitalization in excess of $7 trillion joined the American Business Act on Climate Pledge – committing to reduce emissions, increase renewable power, or finance climate efforts. And the White House is calling on more companies to join the initiative.

The United States has significantly reduced its greenhouse gas emissions over the past decade. Cutting emissions 26 to 28 percent below 2005 levels by 2025 is a challenging goal. But many options remain untapped, and concerted efforts across multiple fronts can get us across the goal line.

The Thomas O. Enders Memorial Lecture on U.S.-Canadian Relations

Promoted in Energy Efficiency section: 
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The Thomas O. Enders Memorial Lecture on U.S.-Canadian Relationsgiven by:The Honorable Rachel Notley, MLAPremier of the Province of Alberta6 p.m.1750 Massachusetts Avenue, NWWashington, DC

The Center for Canadian Studies at Johns Hopkins SAIS
and the Center for Climate and Energy Solutions 

cordially invite you to attend
 
The Thomas O. Enders Memorial Lecture on U.S.-Canadian Relations
 
given by:
 
The Honorable Rachel Notley, MLA
Premier of the Province of Alberta
 
Thursday, April 28 at 6:00 p.m.
Bergsten Auditorium
Peterson Institute for International Economics
1750 Massachusetts Avenue, NW
Washington, DC

The Hon. Rachel Notley leads Alberta's first New Democratic government, with a strong majority and a diverse caucus including the highest percentage of women of any government in Canada. She was sworn in as Alberta's 17th Premier on May 24,  2015.

Premier Notley completed her Bachelor of Arts degree in Political Science at the University of Alberta, and earned a law degree at Osgoode Hall Law School. Her legal career focused on labour law, workers' compensation advocacy, and workplace health and safety issues. She has served as an advisor to BC's Attorney General.
 
 

Business Backs Paris Agreement

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Text: 
Major companies are encouraging governments to quickly join the Paris Agreement and are pledging to work with countries on the steps needed to achieve climate goals. See the statement and the signers.
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U.S. can reach Paris Agreement climate goal; more needed

U.S. can reach Paris Agreement climate goal, but more will be needed

New analysis breaks down estimates of future emissions reductions

WASHINGTON – Existing and expected policies can take the United States most of the way toward its Paris Agreement goal to reduce greenhouse gas emissions, and the remaining reductions can likely be achieved through a mix of additional policies, city and business action, and technological innovation, according to the Center for Climate and Energy Solutions (C2ES).

As part of the landmark global climate agreement to be signed Friday by more than 150 nations, the United States set a goal of reducing net greenhouse gas emissions 26 to 28 percent below 2005 levels by 2025. In a new paper, C2ES outlines how expected and in-place policies could reduce U.S. emissions by as much as 22 percent.

“To get all the way to the goal line, we’ll need concerted efforts across multiple fronts. But the goal is definitely within reach,’’ said C2ES President Bob Perciasepe.

U.S. net emissions are already down about 9 percent from 2005 levels due to market- and policy-related factors, including a shift in electricity generation from coal to natural gas, growth in renewable energy, level electricity demand, and improved vehicle efficiency.

The C2ES business-as-usual forecast, drawn from a number of analyses, projects an additional 5.6 percent reduction in net emissions through such policies as greenhouse gas standards for vehicles and the Clean Power Plan.

The rest of the anticipated 22 percent in emissions reductions is expected to come from new, higher estimates of future carbon sequestration and additional measures under development, including steps to strengthen fuel economy standards for medium- and heavy-duty trucks, reduce methane emissions in the oil and gas sector, and reduce hydrofluorocarbons (HFCs).

Filling the remaining gap of at least 270 million metric tons carbon dioxide equivalent will require further steps, such as additional federal policies, technological advances that lower the cost of emissions reduction, and stronger efforts by cities and businesses.

“We’ve seen unprecedented support from cities and businesses for the Paris Agreement and climate action,” Perciasepe said. “Cities and businesses should press forward with their efforts, and we need to quantify their progress and learn from their examples to help the United States reach its climate goal.”

Read the analysis.

Additional Resources

About C2ES: The Center for Climate and Energy Solutions (C2ES) is an independent, nonprofit, nonpartisan organization promoting strong policy and action to address our energy and climate challenges. Learn more at www.c2es.org.

Achieving the United States' Intended Nationally Determined Contribution

Achieving the United States' Intended Nationally Determined Contribution

April 2016

Download (PDF)

More than 180 nations representing more than 95 percent of global greenhouse gas emissions offered “intended nationally determined contributions” (INDCs) to the Paris Agreement reached in December 2015. The United States’ INDC is an economy-wide target to reduce net greenhouse gas emissions 26 to 28 percent below 2005 levels by 2025. Available analyses suggest that the United States could reduce emissions by as much as 22 percent with policies either already in place or soon anticipated. Options for achieving further reductions to meet the 2025 target may include additional policies, technological advances, and stronger action by cities and companies. Concerted efforts across multiple fronts could reasonably produce the reductions needed to meet the goal. This paper examines the progress that has been achieved since 2005, the effect existing and proposed policies will have by 2025 as well plausible steps to fill the gap.

Doug Vine
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Major companies support Paris Agreement

Press Release
April 20, 2016
Contact Laura Rehrmann, rehrmannl@c2es.org, 703-516-0621

Major companies support Paris Agreement

Urge governments to move quickly to formally join climate pact

WASHINGTON – Twelve leading companies based or with major operations in the United States voiced strong support today for the landmark global climate agreement to be signed this week and urged governments to move expeditiously to formally join it.

In a statement organized by the Center for Climate and Energy Solutions (C2ES), the companies said they recognize rising climate risks and welcome the agreement reached in December at the U.N. Climate Change Conference in Paris “as an expression of the strong governmental leadership needed to smoothly transition to a low-carbon, sustainable future.”

The Paris Agreement, to be signed Friday in New York by more than 150 countries, establishes “an inclusive, pragmatic and, hopefully, durable framework for progressively strengthening efforts globally to address the causes and consequences of climate change,” the statement says.

The statement was endorsed by Berkshire Hathaway Energy, Calpine, HP Inc., Intel, LafargeHolcim, Microsoft, National Grid, PG&E, Rio Tinto, Schneider Electric, Shell, and Siemens.

“These companies have real skin in the game – either they’re big energy producers or users,” said C2ES President Bob Perciasepe. “They know emissions need to come down and are taking action on their own. But they also believe the low-carbon transition requires government leadership to ensure that all major economies are doing their fair share.”

The statement says the Paris Agreement will help facilitate and strengthen the role of the private sector in the low-carbon transition by providing long-term direction, promoting transparency, addressing competitiveness, and facilitating carbon pricing.

“Allowing, and ensuring the environmental integrity of, international emissions trading will help facilitate the growth and credibility of carbon markets, a critical tool for cost-effective emissions reduction,” the statement says.

Many of the companies joining the statement were among the hundreds that pledged specific climate actions in the lead-up to the Paris conference.

"We encourage governments to move expeditiously to formally join the Paris Agreement,” the statement says, "and pledge to work with countries to enact and implement the domestic measures needed to achieve their national contributions.”

The full statement is at: http://bit.ly/Biz4Climate

 

Additional Resources:

About C2ES: The Center for Climate and Energy Solutions (C2ES) is an independent, nonprofit, nonpartisan organization promoting strong policy and action to address our energy and climate challenges. C2ES works to galvanize business and public support for policies to reduce greenhouse gas emissions and increase resilience to climate impacts. Learn more at www.c2es.org.

Business support for the Paris Agreement


 

Twelve major corporations based or operating in the United States are voicing strong support for the Paris Agreement as an expression of the strong governmental leadership needed to smoothly transition to a low-carbon, sustainable future.

The companies are endorsing a statement organized by the Center for Climate and Energy Solutions encouraging governments to move expeditiously to formally join the Paris Agreement, and pledging to "work with countries to enact and implement the domestic measures needed to achieve their national contributions."

The full text is below.
Download a pdf of the statement.

BUSINESS STATEMENT WELCOMING THE PARIS CLIMATE AGREEMENT

This statement was developed by the Center for Climate and Energy Solutions (C2ES) and is supported by the major companies listed below.

The Paris Agreement on climate change is a landmark achievement – it establishes an inclusive, pragmatic and, hopefully, durable framework for progressively strengthening efforts globally to address the causes and consequences of climate change.

We recognize the rising environmental, social, economic, and security risks posed by climate change.  As businesses concerned about the well-being of our investors, our customers, our communities and our planet, we are committed to working on our own and in partnership with governments to mobilize the technology, investment and innovation needed to transition to a sustainable low-carbon economy.

We welcome the Paris Agreement as an expression of the strong governmental leadership needed to smoothly transition to a low-carbon, sustainable future.  The Agreement will help to facilitate and strengthen the role of the private sector in this transition by:

  • Providing Long-Term Direction – The goals of keeping warming below 2°C, peaking global emissions, and achieving net greenhouse gas neutrality signal markets to shift investment toward the diverse range of technologies needed to achieve them.
  • Promoting Transparency – By requiring countries to be transparent about their policy intentions and implementation, the agreement will provide greater clarity on policy landscapes, enabling companies to better anticipate regulatory risks and economic opportunities.
  • Addressing Competitiveness – Global participation and the regular, simultaneous renewal of national contributions will promote a greater comparability of effort, helping to address potential carbon leakage and competitive imbalances that remain a concern for business.
  • Facilitating Carbon Pricing – Allowing, and ensuring the environmental integrity of, international emissions trading will help facilitate the growth and credibility of carbon markets, a critical tool for cost-effective emissions reduction.

We encourage governments to move expeditiously to formally join the Paris Agreement, and pledge to work with countries to enact and implement the domestic measures needed to achieve their national contributions.

BERKSHIRE HATHAWAY ENERGY • CALPINE • HP Inc. • INTEL • LAFARGEHOLCIM
MICROSOFT • NATIONAL GRID • PG&E • RIO TINTO • SCHNEIDER ELECTRIC • SHELL • SIEMENS

 

Additional Resources

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