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A8 WORLD NEWS
Saturday 15 June 2019

Major oil companies commit to carbon pricing at Vatican

By NICOLE WINFIELD including a proposal to
FRANK JORDANS stop adding carbon to the
Associated Press atmosphere by 2050. While
VATICAN CITY (AP) — Some the announcement refers
of the world’s major oil pro- to the 2015 Paris accord’s
ducers committed Friday to goal of “keeping global
supporting “economically warming below 2 degrees
meaningful” carbon pric- Celsius (3.6 Fahrenheit)”
ing regimes after a Vatican by the end of the century
climate summit and a per- compared to pre-industrial
sonal appeal from Pope times, experts say capping
Francis to avoid “perpetrat- the rise at 1.5 degrees Cel-
ing a brutal act of injustice” sius (2.7F) would be safer.
against the poor and future The Carbon Tracker Ini-
generations. tiative, a London-based
The companies, includ- group that examines the
ing ExxonMobil, BP, Royal impact the shift away from
Dutch Shell, fossil fuels has on financial
Total, Chevron and Eni, markets, welcomed the
said in a joint statement Vatican announcement.
that governments should “It is important that many
set such pricing regimes of the world’s largest pub-
at a level that encourages Activists hold up signs outside the Vatican as Pope Francis meets with oil executives, Friday, June licly traded oil and gas
business and investment, 14, 2019. companies and many of
while “minimizing the costs Associated Press the world’s largest inves-
to vulnerable communities ond time the Holy See has “Faced with a climate CEOs said “Reliable and tors have endorsed car-
and supporting economic convened the world’s pe- emergency, we must take economically meaning- bon pricing regimes,” the
growth.” troleum leaders for private action accordingly, in or- ful carbon pricing regimes, group’s executive director,
The CEOs, as well as lead- talks on climate change der to avoid perpetrating whether based on tax, Mark Campanale, said in a
ers of major asset manag- and the moral imperative a brutal act of injustice to- trading mechanisms or oth- statement.
ers such as BlackRock and to save God’s creation. ward the poor and future er market-based measures, “Critically, asset owners
BNP Paribas, also called Francis attended Friday’s generations,” he said. should be set by govern- with trillions of dollars under
for companies to provide session and told the gath- He praised the executives ments at a level that incen- management are also call-
investors with clarity about ering that a “radical en- in particular for taking on tivizes business practices ... ing for company disclosures
the risks climate change ergy transition” to clean, the core issue of carbon while minimizing the costs of meaningful and material
poses to their businesses low-carbon power sources pricing, which he said was to vulnerable communities information on plans and
and how they plan to tran- was needed and that if necessary for humanity to and supporting economic investments in the energy
sition to cleaner energy managed well, it would use the resources of cre- growth.” transition,” he added.
sources. “generate new jobs, re- ation wisely and not bur- The pledge comes ahead Outside the summit, around
The joint statement was duce inequality and im- den the poor and future of a European Union summit half-a-dozen protesters
issued at the end of a prove the quality of life for generations with the debt next week at which leaders held up signs urging the oil
closed-door summit in the those affected by climate incurred by the rich. will discuss the bloc’s efforts executives to listen to the
Vatican gardens, the sec- change.” In their joint statement, the to combat climate change pope.q

UK leader race down to 6 contenders, Boris Johnson in front

By JILL LAWLESS to support. The 40-year-old ing to secure Parliament’s
Associated Press had pitched himself as the backing for her divorce
LONDON (AP) — One of face of a younger, mod- deal with the EU. Tory leg-
seven contenders to re- ernizing generation in the islators will hold more elimi-
place British Prime Minister Conservative Party, promis- nation votes next week,
Theresa May quit the Con- ing to deliver an energizing with the final two contend-
servative Party leadership blend of social liberalism ers put to a vote of 160,000
race on Friday, as front-run- and economic dynamism. Conservative Party mem-
ner Boris Johnson was ac- But his message failed to bers nationwide. The win-
cused by rivals of trying to gain much traction in a ner, due to be announced
dodge media scrutiny. party consumed with Brit- in late July, will become
Health Secretary Matt Han- ain’s stalled departure from Conservative leader and
cock said that after the first the European Union. prime minister. Johnson’s
round of voting it was clear Hancock said he had run commanding lead makes
he did not have the back- as the “candidate of the him almost certain to be in
ing to win. He came fifth future” but found that “the the final two. The flamboy-
in a vote Thursday among party, understandably, is ant former London mayor
313 Conservative lawmak- focused very much on the is admired by many Con-
ers, with 20 votes. Johnson, here and now and how we servatives for his ability to
a former foreign secre- get through Brexit.” energize voters, but is also
tary, won Thursday’s ballot The Conservative Party is widely mistrusted for his re-
with 114 votes, more than holding a contest to re- cord of misleading state-
This combination photo made up of file photos, shows the
remaining six contenders in the Conservative Party leadership the next three candidates place Prime Minister The- ments, verbal blunders and
race Friday June 14, 2019. combined. Hancock did resa May, who quit as party haphazard performance in
Associated Press not say whom he planned leader last week after fail- high office. q