Unilever, Shell, BT, and EDF Energy are among 70 leading companies today calling on governments across the globe to step up efforts to tackle climate change.
The companies, which have a combined turnover of $90bn, say the world needs a "rapid and focused response" to the threat of rising global carbon emissions and the "disruptive climate impacts" associated with their growth.
In a communiqué coordinated by The Prince of Wales's Corporate Leaders Group, the signatories demand governments put in place policies to prevent the cumulative emission of more than a trillion tonnes of carbon, arguing that passing that threshold would lead to unacceptable levels of climate-related risk.
The statement urges political leaders to set a timeline for achieving net zero emissions before the end of the century, design a credible strategy to transform the energy system, and create a plan to tackle the global economy's reliance on fossil fuels, especially unabated coal power.
The intervention follows the publication of a renewed warning from the Intergovernmental Panel on Climate Change (IPCC) that the world is on track for dangerous levels of warming and needs to urgently strengthen efforts to cut greenhouse gas emissions and enhance climate resilience measures.
The report is to be followed by a further update from the IPCC, which will explore the actions and technologies needed to cut emissions and mitigate climate change.
Niall Dunne, chief sustainability officer at BT, said the communiqué highlighted the wide-ranging corporate support that exists for ambitious action to tackle climate change risks.
"We need to get beyond the concept that progressive climate change policy is bad for business: it can be a huge driver of innovation and create opportunities for growth and prosperity," he said. "Conversely, there isn't an organisation I know of which isn't already being impacted by climate change at some level.
"Collective responsibility across governments, business and civic society is vital to ensure the world is on track for net zero emissions before the end of the century."
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