London Mayor holds Climate Change meeting with BP

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BP Plc, Europe’s largest oil company, and EDF Energy Plc are backing an international climate-change meeting organized by London Mayor Ken Livingstone to discuss how to adapt to global warming and reduce greenhouse-gas emissions.

Cities are now home to more than half of the world’s population, and to tackle the problem of climate change they must improve transport systems and energy use, the Climate Group Chief Executive Steve Howard said in an e-mailed press release.

“The percentage of world energy use accounted for by cities in 2005 is 75 percent,” Livingstone said in the statement.

“This week’s conference brings together those city leaders who are taking the most productive and radical steps to adapt to and mitigate climate change, to share ideas and provide leadership.”

Starting this year, power plants and factories in the European Union must have an allowance for each metric ton of carbon they emit. Companies that emit more need to buy allowances in the market, while those that emit less can sell their surplus.

At the London meeting mayors and leading officials from cities around the world will discuss strategies for dealing with climate change in cities with the aim of getting city governments to commit to reducing greenhouse-gas emissions.

“Cities have a special responsibility to cut emissions because they are huge consumers of energy and uniquely vulnerable to the impacts of climate change,” Nicky Gavron, deputy mayor of London said.

“As the urgency for action increases, we cities need to build wider and stronger links across the world.”

The European Climate Exchange has bought and retired 300 metric tons of carbon-dioxide permits on the mayor’s behalf so travel to the meeting doesn’t damage the environment further, the statement said.

Source: Bloomberg