Geneva and Davos, 25 January 2008 - Leading business figures expect clear results from a future framework agreement that includes internationally agreed emission targets to optimize its contribution to tackling climate change, guide investment decisions and avoid market distortions.
Meeting at the 2008 World Economic Forum in Davos, Switzerland, these leaders called upon governments to engage with companies in the process leading to the UN’s 2009 climate change conference Copenhagen.
Post-Bali negotiations and discussions center on determining and agreeing upon actions to reduce carbon emissions and adapt to and mitigate the effects of climate change.
Business, which provides technology and technological innovation, investment capital and management capacity, will be a key player in any efforts to deal with and mitigate the effects climate change.
Business leaders have clearly proclaimed their willingness to step up to the plate and play a pivotal role in any solution. However, business cannot do this in isolation. The development and implementation of technological solutions require clear policy frameworks from governments, including clear emissions targets and legislation tailored to specific technology sectors. Efforts to counter the effects of climate change will require concerted engagement by all stakeholders.
Discussions in Davos provided an opportunity for business to express its need for clarity and engagement during the negotiating process leading to Copenhagen.

“We have the future in our own hands. A global agreement to combat climate change must be reached; for example, a rational handling of the climate change challenge must be made politically possible in every major economy of the world. I firmly believe that global business has a key role to play since political reservations often are based on a fear that local business will be disadvantaged through a global agreement,” said Vattenfall AB President and CEO Lars G. Josefsson.

WBCSD President Björn Stigson said: “Our members are in a unique position to make an important contribution that will help govern emissions after 2012, not least because it makes good business sense. They need clarity about policy frameworks; particularly they need governments to be clear about emissions pathways. Business is willing to partner with governments and
other stakeholders to create these frameworks.”

“Any solution to address climate change must make good business sense and offer business enough clarity to make the right investment decisions in the upcoming years. This is crucial to successfully fight climate change. This event will give business a firsthand opportunity to engage with governments and express their needs,” said Yvo de Boer, Executive Secretary, the head of
the UNFCCC.

“A clear outcome from negotiations in Copenhagen is essential for the continuity of the rapidly growing carbon market. There are substantial investments flowing through the Clean Development Mechanism (CDM), but uncertainty about the future of the market after 2012 could easily undo the momentum and hinder future expansion,” said Andrei Marcu, President and CEO
of the International Emissions Trading Association (IETA).

Nobuo Tanaka, the Executive Director of the International Energy Agency (IEA), said: “The IEA is pleased to partner with business. We are convinced that the business community will help identify the policies and pathways needed and, with governments taking a leadership role, will use their innovation and ingenuity to overcome the climate change challenge.”

Contacts