KEY POINTS:
Some of the world's top business leaders are demanding that diplomats meeting this week come up with drastic measures to cut greenhouse gas pollution at least in half by 2050.
Officials from more than 150 global companies - worth nearly US$4 trillion ($5.3 trillion) in market capitalisation -
have signed a petition urging "strong, early action on climate change" when political leaders meet in Indonesia.
The petition, co-ordinated through the environmental office of Prince Charles, is signed by leaders from powerhouse companies such as Shell UK, Coca-Cola and Volkswagen.
It is aimed at the United Nations conference in Bali, convened to draft a new treaty to replace the Kyoto accord, which expires in 2012.
Contrary to the argument that mandatory pollution cuts would harm the economy, the petition says emissions reductions would "create significant opportunities".
In the three weeks that the business leaders circulated the petition, primarily in the United Kingdom, Europe, the United States and Australia, more than 80 per cent of the giant firms contacted agreed to join in, said petition co-ordinator Craig Bennett, of the University of Cambridge's Programme for Industry.
Just how drastic the cuts in man-made greenhouse gas emissions are should be left up to science, the business leaders said.
But their communique refers to a recent international report on climate change, which said a 50 per cent cut in emissions by 2050 is needed to prevent catastrophic global warming. Barrington said "that's the minimum order of what we're looking for".
In January, the chief executives of 10 major US companies urged George W. Bush to support mandatory industrial greenhouse gas emission cuts. The White House is against that policy. Since then, the industry group, the United States Climate Action Partnership, has grown to include 27 of the world's largest firms.
Other companies signing the British-based petition include Nike, Nokia and the Rupert Murdoch-owned News Corp, which runs the Fox News Channel.
BUSINESS GIANTS
* 150 global companies have signed a petition urging drastic action on climate change.
* More than 80 per cent of the companies contacted agreed to sign the petition.
* They include Nike, Coca-Cola, Johnson & Johnson and British Airways.
* The petition demands a 50 per cent cut in emissions by 2050 to prevent catastrophic global warming.
* It is to be presented to the UN-organised environmental summit in Bali this week.
- AP
