Global business leaders sign agreement to fight global warming

[Doondoo]

NEW YORK: Some of the world's leading corporations and global organizations have committed to a plan Tuesday to save the planet from the harmful effects of man-made climate changes.

Heads of about 100 business organizations, representatives of international organizations and climate experts attended a meeting at the Columbia University to finalize a plan, which they hoped will help pave the way for reduction in emissions.

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The signatories to the agreement, who represented several industries like airlines, energy and technology, urged governments to immediately devise targets for emissions. They also told the governments to levy a charge on polluting firms like companies in the energy generation sector.

Business heads of companies including Alcoa, General Electric Co., Citigroup, DuPont, Volvo, American Electric Power Co. Inc., Exelon Corp., Ford Motor Co., Toyota Motor North America, investment bank Goldman Sachs, Wal-Mart and Volvo Group have signed the agreement.

The Roundtable says developing a technology to ward off the increasing concentration of carbon dioxide will cost around 1 per cent of global gross domestic product.


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