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More than 130 companies including Ikea, Volvo ask world leaders to ‘phase out’ fossil fuels

A “Together Towards Zero” projection during the Volvo AB news conference at the IAA Transportation show in Hanover, Germany, on Monday, September 19th, 2022.  | Photographer: Krisztian Bocsi / Bloomberg via Getty Images

More than 130 companies, including Volvo Cars, Ikea, Unilever, Nestlé, and AstraZeneca, signed a letter calling on governments to adopt a global plan to phase out fossil fuels without carbon capture during upcoming international climate negotiations.

“Our businesses are feeling the impacts and cost of increasing extreme weather events resulting from climate change,” the letter says. “We have an important role to play in sending a clear signal about our future energy use, which is rapidly becoming cleaner through renewables.” It was coordinated by the We Mean Business Coalition that advocates for net-zero greenhouse gas emissions.

Together, the signatories represent close to $1 trillion in global annual revenue from diverse industries,…

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