Six European energy companies make low-carbon plea

LONDON, June 1 (UPI) -- Six of the largest European oil and gas companies issued a global appeal Monday for a mechanism to limit global warming and curb emissions.

The heads of BG Group, BP, Eni, Royal Dutch Shell, Statoil and Total called on governments and the United Nations to introduce a carbon pricing scheme.

"We now need governments around the world to provide us with this framework, and we believe our presence at the table will be helpful in designing an approach that will be both practical and deliverable," they said in a joint statement.

Their appeal comes as world leaders are working toward finding climate solutions at a December conference in Paris. Last week in Mexico, the International Energy Agency said policy uncertainty and a lack of incentives leaves global renewable energy development far short of what's needed to abate warming.

A report from the European Union, meanwhile, finds regional industries working on low-carbon energy options grew more than 50 percent during the decade ending in 2011. EU members in October agreed to cut greenhouse gas emissions by 40 percent, increase the renewable energy footprint by 27 percent and enhance energy efficiency by 27 percent from a 1990 benchmark by 2040.

Paul Fisher, a deputy regulator at the Bank of England, in March said insurers who invest in fossil fuels could face midterm risks as global policies develop that would advance renewable energy or otherwise decarbonize the economy.

Mechanisms from an emissions trading scheme to adopting natural gas in favor of coal could be part of an industry-driven step toward a low-carbon future, the six European companies said.

"We stand ready to play our part," they said.

More than 90 percent of the stockholders in U.S. energy company Chevron voted last week against a proposal to cut greenhouse gas emissions, and 80 percent voted against a move to consider an independent director with environmental expertise.