From HSBC to Microsoft, 91 CEOs call on COP26 to end fossil fuel subsidies
- In an open letter, the executives also proposed slashing customs duties on climate-friendly goods and supporting technologies that help adapt to the effects of climate change
- The signatories included chiefs from companies such as Carlsberg, Deloitte, HSBC, KPMG, Microsoft, Suntory and Tata Steel
The heads of 91 major global companies on Thursday called on the COP26 summit to abolish fossil fuel subsidies and work with business to achieve net zero greenhouse gas emissions.
The Alliance of CEO Climate Leaders, brought together by the World Economic Forum (WEF), called on governments to halve emissions by 2030 and reach net-zero by 2050, proposing steps to help businesses reduce emissions faster and scale up innovations.
The signatories included chiefs from Allianz, Bayer, Bloomberg, Carlsberg, Dell, Deloitte, Deutsche Bank, Ericsson, Heineken, HSBC, Ingka Group (Ikea), KPMG, Microsoft, Nestle, PepsiCo, Siemens, Suntory, Swiss Re and Tata Steel.
The companies are committed to reduce emissions by more than one gigatonne annually by 2030, the WEF said.