COP21: Carbon Pricing, Bill Gates, Businesses Act on Climate Change
As the COP21 climate talks continue in Paris global leaders and organizations are stepping up calls for carbon pricing. The leaders of France, Germany, Canada, Chile, Mexico and Ethiopia, as well as heads of the World Bank, International Monetary Fund and Organization of Economic Cooperation and Development say either taxing carbon emissions or a cap-and-trade system is the best way to mitigate climate change, the Associate Press reports.
The White House today announced additional commitments from 73 companies that have joined the American Business Act on Climate Pledge. This brings the total 154 companies signaling their support for a strong climate deal in Paris. New commitments include Xylem, which pledged to reduce greenhouse gas emissions from Xylem facilities by 20 percent by 2020 compared to our 2014 baseline; BioAmber, which will build and operate and additional 160,000 tons of renewable chemical manufacturing capacity by 2020 that cuts GHG emissions by 60 percent and energy consumption by 50 percent relative to the conventional petrochemical manufacturing process, and; Adobe, which has committed to powering its operations and the digital delivery of its products entirely with 100 percent renewable electricity by 2035.
More than 100 companies signed a full-page ad in today’s Wall Street Journal that asks the US government to: seek a global climate deal in Paris that keeps global temperature rise below 2 degrees C; achieve or exceed national emissions reduction commitments, and; support investment in the low-carbon economy in the US and abroad.
Pulp and paper company April Group today announced it would double its peatland restoration activities in Indonesia to 150,000 hectares and invest $100 million over the next decade in conservation and restoration activities. The company says it believes this is the biggest investment by a private-sector company in a single eco-restoration project in Indonesia, covering assessment, restoration and protection, and management and partnerships.
Yesterday, Bill Gates announced The Breakthrough Energy Coalition, which is a $2 billion fund he is establishing with other millionaires and the University of California. It is aimed at closing the cost premium between legacy energy sources and those that reduce carbon emissions.
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