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Climate Change is one of the most pressing issues of our time. Unless global action is taken quickly to stabilise global warming, there is likely to be irreversible and catastrophic damage.
Europe has already displayed its leadership by adopting the 20/20/20 targets - a 20% cut in greenhouse gas emissions, a 20% improvement in energy efficiency and 20% of energy to come from renewable sources, all by 2020 – and developing the Emissions Trading Scheme (ETS) - the most sophisticated carbon market in the world. By 2050, the EU wants to eliminate most emissions. But, UN scientists have recommended that developed countries make cuts of up to 40 percent in C02 emissions by 2020 to avoid a catastrophic rise in sea levels, harsher storms and droughts, and climate disruptions.
The business community has a key role to play in this regard, and climate change will be at the heart of many business’ strategies. Companies are adopting a range of policies and programmes to improve energy efficiency, and many recognise that Climate Change offers the chance to lead in a lucrative new global market in environmental technologies and carbon trading. For example: the global carbon market is estimated to be worth €2 trillion by 2020.
The Copenhagen Summit resulted in a document called the Copenhagen Accord hammered out by a small group of countries - including the world's two biggest greenhouse gas polluters, China and the US. The conference as a whole did not adopt the accord, but voted to "take note" of it. Hopes for a global agreement now rest on the COP16 negotiations in Cancun in Mexico at the end of this year.
- Supports the EU’s leadership role in the response to climate change
- Encourages and provides a platform for thought leadership amongst British Business on the topic of climate change and energy
- Provides a continuous feed into the debate on green growth from a pro-business pro-EU perspective