France ropes in BNP Paribas, Michelin, IKEA & EDF for Paris Climate Summit

NEW DELHI: France has roped in companies such as IKEA, BNP Paribas, Michelin and EDF to finance the yearend United Nations climate summit in Paris that is estimated to cost nearly 170 million euros.
Several firms, including Saint Gobain and Nissan-Renault, have already signed up, but participation by the likes of French energy major EDF and electric utility company Engie, which invests in fossil fuels, is raising some concerns among civil society groups. The participation by companies with strong business interests in coal and other fossil fuels is being viewed as a move that undermines the efforts to move countries to a low carbon, clean energy path.

The UN climate change body, the United Nations Framework Convention on Climate Change, has been advocating limiting the use of fossil fuel and investments in new fossil fuel projects as one of the steps that would help slow down global warming.

The 190-odd countries attending the year-end talks are expected to finalise a global agreement that will help to slow down the rate of global warming and deal with the adverse impacts of climate change.

France, which is hosting the yearend climate talks, had indicated that it would like to limit the burden on its taxpayers.

Making the announcement, French foreign minister Laurent Fabius said: “The goal is to minimise the additional cost to the taxpayer by systematically seeking economies, and by seeking companies that can provide financial support or in kind.”

France would like to defray 20% of the costs to industry. Sources indicated that so far the corporate participation has been to the tune of 9%-10%.

France is not the first country to seek industry participation in hosting the UN-sponsored talks. In 2013, Poland had involved companies like Arcelor-Mittal, BMW and International Paper to sponsor part of the arrangements.

Many experts say that the Poland’s decision to accept sponsorship from several companies with far from exemplary environmental records undermined the efforts to push governments to take steps to reduce carbon pollution, which was speeding up global warming.

France has said the companies being signed up are those that offered help and are seen to be “climate compatible” in their activities. Participation as a patron implies an ability to show a long-term commitment for the climate.