In World Economy News 16/11/2016
More than 360 businesses and investors called on U.S. President-elect Donald Trump and world leaders on Wednesday to continue to support agreed curbs on global warming and to speed up efforts to move to a low-carbon economy.
In a statement addressed to Trump, U.S. President Barack Obama, members of the U.S. Congress and global leaders, the group, called 360+, reaffirmed its commitment to the Paris Agreement on climate change.
The 360+ group includes companies such as DuPont, Gap , General Mills , Hewlett Packard , Hilton , Kellogg, Levi Strauss & Co., L’Oreal USA, Nike , Mars Incorporated, Schneider Electric, Starbucks and Unilever .
The Paris Agreement, aiming to phase out net greenhouse gas emissions this century, came into force on Nov. 4 and now has backing from 110 nations including the United States.
The Nov. 7-18 meeting in Marrakesh is where U.N. officials and government representatives are trying to work out the details of the pact. However, Trump’s victory in the U.S. election last week has overshadowed the event.
Trump has threatened to tear up the U.S. commitment to the accord.
The 360+ group called on U.S. leaders to continue to participate in the Paris Agreement, support the continuation of U.S. commitments on climate change and continue to invest in low-carbon solutions at home and abroad.
“Failure to build a low-carbon economy puts American prosperity at risk. But the right action now will create jobs and boost U.S. competitiveness,” the group said, in the statement presented at U.N. climate talks being held this week in Marrakesh, Morocco.
“Implementing the Paris Climate Agreement will enable and encourage businesses and investors to turn the billions of dollars in existing low-carbon investments into the trillions of dollars the world needs to bring clean energy prosperity to all,” the group added.
Source: Reuters (Editing by Jeremy Gaunt.)
