New emissions targets urged

World governments must sign a clear new agreement on greenhouse gas emissions at a crunch conference in Paris this December, leaders of the world’s energy industry have urged.

The World Energy Council (WEC) said policy uncertainty, and the lack of clear long-term goals on the climate, had hampered the industry’s ability to invest in low-carbon growth.

The organisation, representing major energy companies around the world, including those dependent on fossil fuels, said that $48tn (£31tn) to $53tn of investment would be needed, and could be delivered, if the world is to avoid dangerous climate change.

The Council called for clear emissions targets to be set at Paris, and for a “flexible approach” to the needs of different countries.