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Energy, mining giants begin to back global climate deal

Oct. 14, 2015 5:53 PM ETBHP Group Limited (BHP) StockPCG, CPN, BHP, BP, HPQ, INTC, AA, SHEL, NGG, AOMFF, HCMLF, SBGSF, RIO, ALSMY, SIEGYBy: Carl Surran, SA News Editor39 Comments
  • The 14 companies that issued a joint statement today endorsing an international agreement to reduce carbon emissions included leaders of some of the world’s most carbon-intensive industries: coal miners BHP Billiton (NYSE:BHP) and Rio Tinto (NYSE:RIO), oil majors Shell (RDS.A, RDS.B) and BP, aluminum producer Alcoa (NYSE:AA) and cement maker LarfargeHolcim (OTCPK:HCMLF).
  • A climate deal could eventually mean new taxes and regulations on products central to the companies’ business models, but the companies say they seek clear direction from world leaders to guide long-term investments and transparency to ensure all countries apply the same rules to emissions.
  • While UN climate talks scheduled for December in Paris are not likely to result in a global price on carbon, individual countries are submitting their own plans that could lead to market opportunities for major players.
  • The statement was also joined by Alstom (OTCPK:ALSMY, OTCPK:AOMFF), Calpine (NYSE:CPN), Hewlett-Packard (NYSE:HPQ), Intel (NASDAQ:INTC), National Grid (NYSE:NGG), PG&E (NYSE:PCG), Schneider Electric (OTCPK:SBGSF) and Siemens (OTCPK:SIEGY).

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