COP15 and managing the consequences of its outcomes
11 November 2009
COP15 in Copenhagen is not expected to deliver an agreement on post-2012 greenhouse gas reduction targets established in Kyoto. But it is supposed to agree the main direction and outline for such an agreement, to be filled in through further negotiations in the coming year. Business has a major stake in the climate negotiators 'getting it right' to set targets that send a clear, consistent signal to investors and allow market-based approaches such as emissions trading and project-based carbon credits to be part of the solution.
ERM’s Sustainability and Climate Change practice includes the internationally recognised climate change expert Lee Solsbery. A Global Technical Director with ERM, Lee is also an International Emissions Trading Association (IETA) Board Member whose involvement in COP15 is key as part of the leading international business group promoting best practices in emissions trading.
Speaking on COP15, Lee says: “The Copenhagen event this December is about setting the framework for the successor to the Kyoto Protocol, not only in terms of targets but also increasing the number of countries signed up to it."
“We will be attending as our job is to identify and disseminate what this will mean for our clients. By the end of 2010, we expect their to be clarity around the targets to be met, mechanisms that need to be in place, actions needed to minimise impact on the bottom line and how the less developed countries can be assisted to be part of the process. There needs to be more clarity across markets and agreement on outcomes from countries such as the US which famously stayed out of Kyoto and along with many other countries, will not sign on to post-2012 targets unless the issue of international competitiveness is dealt with in setting new GHG targets."
“ERM can help business recognize the risks and cope with the impacts of climate change be they carbon emissions reduction or adaptation, as well as opportunities in the market place bringing value to emission reduction projects and managing climate change risk.”