Vatican climate talks conclude

BP chief executive Bob Dudley has signed joint statements covering carbon pricing and transparent investments at the conclusion of the two-day summit on the energy transition

The meeting held at the Vatican this week marked the second year that Pope Francis has invited energy and finance sector executives to talk about climate change.

The goal of this year’s event was to find ways to accelerate the transition to a low carbon future, while protecting those most vulnerable and enabling continued advances in human and economic prosperity.

The discussion focused on the vital role of government-set reliable and economically meaningful carbon pricing regimes in delivering this transition at the pace required. 

The participants also recognized that transparent and meaningful reporting and disclosures are needed to allow investors to assess and encourage progress in this critical area.

Dudley was pleased to sign joint statements encouraging more action on these two important drivers for change. 

Dudley said: “The world needs to take urgent action to get us on a more sustainable path and it is critical that everyone plays their part  ̶  companies and investors, governments and individuals. This requires all of us to come together, build understanding and collaborate to find solutions. 

“Constructive dialogues such as this meeting are essential in aligning key players on the steps needed to accelerate the energy transition while still enabling advances in human prosperity. I am grateful to His Holiness, the Vatican and University of Notre Dame for continuing to support this critical engagement.”