Big business seeks unified, market-based approaches ahead of climate summit

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Corporate executives and investors say they want world leaders at next week's climate summit to embrace a unified and market-based approach to slashing their carbon emissions.

- Corporate executives and investors say they want world leaders at next week’s climate summit to embrace a unified and market-based approach to slashing their carbon emissions.

Key to that effort will be pledging to cut U.S. emissions by at least half by 2030, as well as securing agreements from allies to do the same. That in turn has helped shift the rhetoric of industries that once minimized the risks of climate change. AFL-CIO spokesman Tim Schlittner said the group hopes the summit will produce “a clear signal that carbon border adjustments are on the table to protect energy-intensive sectors.”Automakers, whose vehicles make up a big chunk of global emissions, are under pressure to phase out petroleum-fueled internal combustion engines. Industry leaders General Motors Co and Volkswagen have already declared ambitious plans to move toward selling only electric vehicles.

 

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