The global Call on Carbon initiative, launched by three Nordic climate-business networks, urges governments to ramp up climate investments and adopt more effective carbon pricing systems.

Climate Leadership Coalition (Finland), the Haga Initiative (Sweden) and Skift Business Climate Leaders (Norway) have already attracted 87 signatories for the call: companies, financial institutions, cities, universities and industrial associations. Signatories include Ensto, KONE, Fortum, Neste, Nokia, SEB, St1 Nordic, Stora Enso, Varma, the Confederation of Finnish Industries, City of Espoo, City of Lahti, Sitra, VTT, Akava, Aalto University, Storebrand, Folksam and Axfood.

Prominent international supporters include John W.H. Denton, Secretary General, International Chamber of Commerce, the institutional representative of more than 45 million companies in over 100 countries. Pekka Pesonen, Secretary General, Copa-Cogeca, representing 22 million European farmers, forest owners and their cooperatives, and Paul Voss, Managing Director, Euroheat & Power, a network of district energy organisations and professionals also support the call. Signatories and given statements are here.

Call of Carbon initiative was presented to Nordic companies in a webinar on March 29. Representatives of the Finnish, Swedish and Norwegian governments were also present in the discussions.

“Within the EU and Finland the emission trading scheme has worked well after some problems in the early years. Emissions have decreased as planned and the price levels developed to in line with the original intention. The system is ready to be expanded to other domains. It is a pleasure to note that businesses support carbon pricing widely”, says Kimmo Tiilikainen, State Secretary, Ministry of Economic Affairs and Employment, Finland.

Today, only a quarter of global greenhouse gas emissions are covered by carbon pricing initiatives, and a fraction of those are within the recommended range in the Paris Agreement. The supporters of the Call on Carbon -initiative urge governments to act on this during 2021 and in doing so support COP26 in Glasgow and make it a true game changer.

“Private sector investments require predictability and a clear transition signal. The best way to do this is to get a market-based price tag for carbon emissions. It is also important to make carbon pricing as comprehensive as possible internationally. From an industry perspective, 2050 is just one or two investment cycles away. Carbon pricing must take a leap forward. The Confederation of Finnish Industries has signed the call and urges all industrial associations to join”, says Jyri Häkämies, CEO, the Confederation of Finnish Industries.

“Carbon pricing is the key tool to reduce greenhouse gas emissions, which we should do in the large scale first. It could create the needed incentives for the land-owners to increase carbon sequestration. Any carbon trading scheme must, however, be built on credible carbon flow data and be conditional on alternative agricultural and forestry management practices,” says Juha Marttila, President, The Central Union of Agricultural Producers and Forest Owners in Finland.

Call on Carbon -initiative also prompts governments to align their carbon pricing instruments where appropriate to facilitate a cost-efficient investment path and a stable and predictable investment environment in order to reach reach net zero emissions.

“Direct fossil fuel subsidies are a tenfold higher and the indirect costs of fossil combustion and the impacts magnified by climate change a hundred times greater than the revenues raised by the carbon pricing. Last winter, we concluded that much bigger actions are needed and we initiated the call. It has been delightful to see how wide support the call has gained already”, says Jouni Keronen, CEO, Climate Leadership Coalition.

More Call on Carbon news here.

CLC is a non-profit association and the largest climate-business network in Europe. CLC’s members employ 520,000 people globally. CLC’s corporate members represent about 70 percent of the market cap of OMX Nasdaq Helsinki. CLC’s members believe that transitioning society towards a sustainable economy and consumption habits is not only possible but also economically viable.

More information: Jouni Keronen, Chief Executive Officer, Climate Leadership Coalition, +358 50 453 4881 and Kari Mokko, Development Director, Climate Leadership Coalition, +358 40 751 3281.