CLIMATE CHANGE-BUSINESS/HOLLANDE Hollande sees obstacles to climate deal in Paris, calls on CEOs to lead the way

Record ID: 134973

  • Title: CLIMATE CHANGE-BUSINESS/HOLLANDE Hollande sees obstacles to climate deal in Paris, calls on CEOs to lead the way
  • Date: 20th May 2015
  • Summary: PARIS, FRANCE (MAY 20, 2015) (AGENCY POOL) PEOPLE LISTENING TO HOLLANDE ADDRESSING THE CONFERENCE PROFILE OF HOLLANDE TALKING
  • Embargoed: 4th June 2015 13:00
  • Keywords:
  • Location: France
  • Country: France
  • Topics: General
  • Reuters ID: LVACZVEOJZNM2OO6BOBWS95TGC64
  • Aspect Ratio: 16:9
  • Story Text: French President Francois Hollande pleaded with the Paris Business and Climate conference of CEOs not to waste the opportunity to move forward on climate change in an address in Paris on Wednesday (May 20).
    Hollande said he was worried about a lack of progress towards a United Nations climate deal in Paris in December.
    At the root of his concern is that only 37 of 196 U.N. member states have so far submitted plans to the United Nations outlining their actions to slow global warming beyond 2020. The plans are meant to be the building blocks for a deal in Paris.
    CEOs at the Paris conference are discussing how the world of industry can help fight climate change and Hollande reminded them of their responsibility in moving the future towards a clean environment.
    "Because we must not limit the Paris conference to a simple a proclamation, simply a long text, simply a long lament. Even if we come to an agreement on this text, on this proclamation, on this lament. The Paris agreement must be an agreement in which commitments are made . This is what will make this a success - or not. Because something will obviously come out of this conference but it must spawn a programme, a strategy, an array of commitments," Hollande said.
    Contributions should be submitted this summer, Hollande said. A further 59 member states have just a few months to get there.
    He said that developed nations should lead the way. Japan and Australia are the two biggest developed nations that have yet to submit - the United States, the 28-nation European Union, Russia and Canada are among those that have done so.
    The United Nations has set a deadline of Oct. 1 for submissions to give time to add up the offers from all countries as part of a deal in Paris in December to see how far they will work to rein in rising temperatures.
    Hollande also called on the financial industry to decarbonise its investment portfolios and boost the issuance of green bonds to finance investment in renewable energies.
    He said that a decarbonisation coalition set up during the New York UN summit last year had already led to 45 billion US dollars of decarbonisation commitments.
    Hollande said the commitments are voluntary, made in an open world economy and that it was up to companies to understand why this made sense.
    He said all industrial sectors need to set targets to reduce emissions, boosting the share of renewables, cutting reliance on fossil fuels and by reducing the use of water and commodities in their production processes.
    "However it is you, you in Paris, who must bring to us commitments, provide us with answers and then the success will also be yours. Because, if we carry out the actions that are expected of us, if we make the choices that are hoped for, then I am sure it will have extremely very positive consequences on the economic players, on the technology of the future, on employment and growth and that's why I insisted on being with you on this day of mobilisation for the success of the Paris conference," Hollande said.
    At the summit, seeking to promote more action by businesses about six months before the Paris meeting, many speakers urged a price on carbon dioxide to put pressure to cut emissions from burning fossil fuels.
    Some studies suggest that the fight against climate change can help promote economic growth, rather than hold it back, especially when counting benefits ranging from less air pollution to cleaner water.
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