Johnson Controls Backs Call on G7 to Consider New Carbon Prices
SWORDS, Ireland — George Oliver, chairman and CEO, Johnson Controls, has co-signed a letter with a list of international company and organization executives urging the G7 to accelerate action limiting greenhouse gas emissions. One of the primary ways suggested is a ramp in carbon pricing. The letter makes the case for a price starting at around $30 per tonne and potentially moving beyond $120 per tonne if the world is forced to consider options such as drawing emissions directly out of the atmosphere. The call to action came ahead of the G7 country leaders meeting in Germany this week.
The signatories have come together under the banner of the Sustainable Markets Initiative (SMI) – a collection of more than 400 CEOs and chaired by His Royal Highness the Prince of Wales. The shared goal is to accelerate the world's transition to a sustainable future. Companies co-signing with Johnson Controls include the Bank of America, Mahindra Group, Shell, and BP alongside organizations such as Wateraid UK and the Sustainable Food Trust.