The Trillion Tonne Communiqué is signed by major international companies including the UK's Unilever, Kingfisher, BT and Marks and Spencer. Fossil fuel multinationals Shell and EDF Energy are also among the signatories. One of the aims of the communiqué is to secure net zero emissions goal by the end of the century. It also urges Governments to do more to create a new, sustainable energy system and to manage the unabated emissions from fossil fuels, especially coal.
Energy system: "not fit for purpose"
"Our energy system is not fit for purpose," Sir Ian Cheshire, group chief executive, Kingfisher plc said. "Governments need to do much more to incentivise and reward investment in low carbon technology, as well as to encourage energy and resource efficiency. Businesses cannot act alone: they need clear regulatory frameworks to provide certainty and help them drive transformation towards a more energy secure future."
The communiqué is being released ahead of a report this week by UN Intergovernmental Panel on Climate Change (IPCC) setting out the actions scientists now believe are necessary to mitigate climate change. It follows last week’s report by the IPCC which concluded climate change was already being felt across the globe and posed a threat to life and livelihood.
Niall Dunne, chief sustainability officer at BT, said: "We need to get beyond the concept that progressive climate change policy is bad for business: it can be a huge driver of innovation and create opportunities for growth and prosperity. Conversely, there isn’t an organisation I know of which isn’t already being impacted by climate change at some level.
The Trillion Tonne Communiqué was released by The Prince of Wales’s Corporate Leaders Group. It remains open for other businesses to sign up until the next UN Climate Change meeting in 2015.