BUSINESS

Shell, BP, Total Among Companies Calling For Carbon Pricing

06/01/2015 06:02 EDT | Updated 06/01/2016 05:59 EDT
ASSOCIATED PRESS
FILE - In this Monday, April 7, 2014 file photo, a flag bearing the company logo of Royal Dutch Shell, an Anglo-Dutch oil and gas company, flies outside the head office in The Hague, Netherlands. Royal Dutch Shell PLC, Europe's largest oil company by market value, said Thursday, Jan. 29, 2015 that fourth quarter net income fell 57 percent to $773 million and that it would cap spending this year in response to falling oil prices. (AP Photo/Peter Dejong, File)
STOCKHOLM - Six European oil and gas companies have called for a global price on carbon as a way to curb climate-warming emissions from the burning of fossil fuels.

The chief executives of Royal Dutch Shell, BP, Eni, Total, Statoil and the BG Group made the appeal ahead of a new round of U.N. climate talks Monday in Bonn, Germany.

In a letter to U.N. climate chief Christiana Figueres and French Foreign Minister Laurent Fabius the companies said governments should introduce carbon pricing and eventually link up their carbon markets.

While that involves a cost for fossil-fuel companies, they said "carbon pricing policy frameworks" will help provide a roadmap for energy companies and investors.

Governments are expected to sign a global climate agreement in Paris in December.

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