LONDON, Oct 23 (Reuters) - Companies including Nestle (NESN.S), Unilever (ULVR.L), Mahindra Group and Volvo Cars are urging political leaders to agree a timeline at the upcoming U.N. climate summit to phase out fossil fuels.
"Our businesses are feeling the impacts and cost of increasing extreme weather events resulting from climate change," the companies wrote in the letter, which was coordinated by the non-profit We Mean Business Coalition, which is pushing for greater climate action globally.
"To decarbonise the global energy system, we need to ramp up clean energy as fast as we phase out the use and production of fossil fuels," they wrote.
The speed at which countries should phase out fossil fuels will be one of the thorniest issues.
Reporting by Tommy Reggiori Wilkes; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.
Persons:
COP28, Tommy Reggiori Wilkes, Emelia Sithole
Organizations:
Companies, Nestle, Unilever, Mahindra Group, Volvo, Business Coalition, Bayer, Heineken, IKEA, Thomson
Locations:
Dubai, Paris, Europe