Nestle, Volvo among 130 companies urging COP28 agreement to ditch fossil fuels ...Middle East

Nestle’s logo is seen at a plant in Konolfingen, Switzerland, Sept. 28, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing Rights 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. The 131 companies, which have nearly $1 trillion in global annual revenues, wrote in a letter published on Monday that attendees at the COP28 summit must commit to reach 100% decarbonised power systems by 2035 for richer economies, and help developing countries financially so they can ditch fossil fuels by 2040 at the latest. “

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