Thursday, December 17, 2009

News from Copenhagen

GreenBiz's Peter Lacy reports from Copenhagen that, while there is a lot of disappointment and frustration at the climate conference, in order to reach some success there are five remaining "Runners and Riders" that need to be resolved:

1. Targets in the North -- Developed country emissions reduction targets, particularly to 2020;
2. Targets in the South -- Defining what actions developing countries commit to take to mitigate greenhouse gases, overall and to 2020;
3. Finance -- Securing financing and capital flows to developing countries to fund both emissions reductions and adaptation to the impact of climate change;
4. Bunker Fuels -- The way countries should treat what are called 'bunker fuels' -- jet and marine fuels -- in relation to their climate targets and programs, and whether to tax aviation and shipping;
5. Forests – Finance for avoided deforestation and aforestation under the REDD+ program, particularly monitoring and verification of developing country forests

Lacy goes on, writing,

For government, getting this mix right will dictate success or failure on commitments. For business leaders, understanding the impact on current and future markets will give insight into the value at stake, determine direction and start to plan for their own important journey from strategy to execution.

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