A group of 153 companies has unveiled plans to reduce carbon dioxide emissions.

If the plans are fulfilled then they will account for 65% of the reductions needed to prevent the world's average temperature rising by 2C above pre-industrial levels.

The plans could trigger $5-10 trillion of investment into low-carbon sectors by 2030, according to an analysis carried out by accountancy firm PwC.

Between 20 million and 45 million jobs could be supported by the plans each year, PwC added.

Businesses and governments working together

Peter Bakker, President and Chief Executive at the World Business Council for Sustainable Development, which coordinated the plans, said: “It’s time to scale up.

“Neither business nor government can solve the climate challenge alone.

“We must work together – across sectors, across countries, across borders and boundaries, in order to make the progress that is so urgently needed.”

Companies taking part include BP, Ikea and Unilever.

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