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Business Leaders Urge G7 to Ramp Carbon Price


  • News
  • 30 Jun 2022
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Business Leaders Urge G7 to Ramp Carbon Price, Set Policies Enabling Private Market Investment in Climate Action.

A group of CEOs from leading companies and financial institutions issued a call upon G7 governments to institute policies and practices enabling private sector capital mobilization for investment in the transition to a low carbon global economy. The statement was published by the Sustainable Markets Initiative, a global sustainability coalition launched in 2020 by His Royal Highness The Prince of Wales, designed to support global progress towards a sustainable future and accelerating investments towards sustainable markets. Signatories included the top executives of professional service firms KPMG, PwC, Deloitte, and EY, financial service firms Bank of America, HSBC and State Street, energy companies bp and Shell, among others. In the statement, the executives note the tremendous investments necessary to meet global climate and sustainability goals, writing, “restoring our planetary, human and economic health is vital, as is adapting to those impacts that cannot be avoided. This is going to take a lot of investment; USD4tn each year by 2030 in clean energy alone according to credible estimates,” which will require significant private sector participation in addition to public sector funding.

Source: ESG Today