Contact: Danielle Anthony
Deloitte
PR Manager
+ 44 (0) 207 303 3861
Deloitte joined 23 global companies this evening (Thursday 9 June) in releasing a statement expressing strong support for action to mitigate climate change. The statement, prepared by the G8 Climate Change Roundtable convened by the World Economic Forum, was presented to Prime Minister Tony Blair at a meeting at No.10 Downing Street in London.
The G8 Climate Change Roundtable, first formed at the World Economic Forum’s 2005 Annual Meeting in Davos, prepared the statement in response to an invitation from the Prime Minister to provide a business perspective on climate change in advance of the G8 Summit that will take place in Gleneagles next month. The Prime Minister will chair the G8 meeting and has pledged to focus considerable attention on climate change.
Deloitte’s lead UK energy Partner, Carl Hughes, attended the Roundtable. Carl commented: “Businesses and governments must work together on climate change mitigation to identify and implement policy measures that create meaningful and effective solutions while ensuring long term value for shareholders.“
The statement emphasizes the need to act on climate change and stresses the importance of market-based solutions. It calls on governments to establish ’clear, transparent, and consistent price signals’ through creation of a long-term policy framework that includes all major emitters of greenhouse gases. The statement highlights the need for technology incentive programs that use performance-based standards to accelerate commercialization of low carbon technologies and calls for common metrics to measure corporate performance in reducing greenhouse gas emissions. It notes that significant opportunity exists to utilize both public and private sector procurement processes to reduce emissions. Finally, the statement calls for a ’new partnership’ between the G8 countries and China, India, Brazil, South Africa, and Mexico to facilitate private investment in low carbon infrastructure.
The Roundtable companies, headquartered in ten nations throughout the world, include global companies from a broad cross-section of industry sectors: energy, business advisory, transport, metals and mining, financial services, electricity, construction and engineering, high tech, and communications. The companies are headquartered in Europe, Russia, Canada, the U.S., South Africa and Japan.
Further information and the full statement are available at www.wefourm.org.
Ends
Notes to Editors
G8 Climate Change Roundtable Participating Companies:
ABB, Alcan, BP, British Airways, BT, Cinergy, Cisco, Deloitte, Deutsche Bank, E. ON, EADS, EdF, Eskom, Ford, HP, HSBC, Petróleo Brasileiro S/A (Petrobras), RAO UESR, Rio Tinto, Siemens, Swiss Re, Toyota, Vattenfall, Volkswagen.
About Deloitte
In this press release references to Deloitte are references to Deloitte & Touche LLP.
Deloitte & Touche LLP is the UK's fastest growing major business advisory firm based in 21 UK locations, with over 10,000 staff nationwide and fee income of £1,246 million in 2003/2004. It is a member firm of Deloitte Touche Tohmatsu, a leading professional services organisation, delivering world class audit, tax, consulting and corporate finance services, with around 120,000 people in over 140 countries. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity.
Deloitte & Touche LLP is authorised and regulated by the Financial Services Authority.
The information contained in this press release is correct at the time of going to press.
