Business leaders lobby for carbon cuts
Date: 20 Jun 2008
Business leaders from 99 companies, including British Airways, Deutsche Bank, EDF, Petrobas and Shell are lobbying heads of governments to set targets for cutting greenhouse gas emissions and to help establish a global market for carbon.
The initiative is designed to target the G8 political leaders with a view to influencing the UN climate meetings that will seek to produce an agreement to take over from the Kyoto Protocol, which expires in 2012.
The CEOs called for 'responsible risk management' in relation to the issue which should lead leaders of both public and private sectors to take immediate and significant action. They want all major economies, including India and China, to be included in the new agreement, although richer countries should commit to deeper emissions reductions. By 2050, global greenhouse emissions should be halved.
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In a recent article, the BBC's economics editor Robert Peston highlighted the fact that in 2012 the chances are that the economy - punch drunk as it is from the various flavours of debt crisis it has been pummelled with over the course of the year - will be hit by the collapse of a major bank and / or government.
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