Oil and Coal Companies Say They Back CO2 Cuts, Climate Talks

Ten major oil companies, mainly from Europe, on Friday acknowledged their industry’s role in climate change and said they agreed with United Nations goals to limit temperature increases to 3.6 F. Their statement follows a similar declaration on Wednesday by 14 major companies closely tied with the fossil fuel industry, including coal giants BHP Billiton and Rio Tinto, as well as Royal Dutch Shell, BP, and the world’s largest cement maker, LafargeHolcim. The Friday statement by European oil company executives acknowledged that the “existing trend of the world’s net global greenhouse gas emissions is not consistent” with UN climate targets. But the companies did not commit to specific production cuts or supporting a price on carbon. With UN climate talks opening in Paris in December, the statements by both groups are part of public relations efforts to demonstrate that oil and coal companies are willing to join in the fight to slow global warming.