Our expectations on climate policy
We need forceful actions to advance the needed energy transition, enabling us to combat climate change while promoting affordable access to energy that enables economic growth in the context of sustainable development. Policy measures must:
- target the most significant greenhouse gas sources
- be predictable, transparent and internationally aligned, to trigger investments and innovation
- phase out subsidies on fossil fuels that exacerbate climate change and undermine the effects of other policy measures, such as carbon pricing and efforts to achieve sustainable development
- promote research and development through public measures that stimulate investments in energy efficiency, renewable energy, carbon capture, utilisation and sequestration, hydrogen and other low carbon solutions
- adopt carbon pricing that can deliver material and cost-efficient greenhouse gas emission reductions and a scale-up of investment in sustainable natural carbon sinks.
We would invite everyone that is engaged on climate policy to consider whether the level of ambition for which they are advocating is consistent with the ambitions of the Paris Agreement.
We’re strengthening our commitment to climate leadership.
In a joint statement prepared with investors participating in Climate Action 100+, we announced new steps to demonstrate further industry leadership on climate change and strong support for the goals of the Paris Agreement.