Business leader groups: Copenhagen Accord must spur action, "race to the top"

27 January 2010

Business leaders warn Copenhagen Accord must spur a "race to the top" to guarantee future climate, jobs and economy

Click here to read the full press release.

DAVOS, 27 January 2010:   Business leaders groups have written to world leaders to warn them that the Copenhagen Accord will only be a success if it spurs a "race to the top" for more ambitious climate action at all levels of national, state and municipal government.

The caution comes in a statement sent to government leaders from six business leader groups as the global political elite and captains of industry gather for the annual World Economic Forum in Davos, and only days ahead of a UN deadline for countries to register national emission reduction targets on 31 January 2010.

The six international business organizations involved The Climate Group, Business for Innovative Climate & Energy Policy (BICEP), Carbon Markets & Investors Association (CMIA), Clean Economy Network, Combat Climate Change (3C) and Copenhagen Climate Council are uniting to call on government to provide the clarity and certainty necessary to drive an urgent scale-up of private sector investment in energy efficiency, low carbon infrastructure and RDD&D (research, development, demonstration and deployment) of clean technologies. The six groups work with over 200 multi-national businesses from every continent.

The statement calls on governments to:

  • Set ambitious medium and long-term emissions reductions targets
  • Accelerate private sector investment in low carbon products, services and infrastructure through innovative finance and market mechanisms
  • Implement a technology mechanism that drives innovation, development and transfer
  • Boost public-private dialogue so that politicians better understand the needs of business
  • Conclude a comprehensive international climate agreement by the end of 2010

Steve Howard, CEO of The Climate Group and Chair of the World Economic Forums Global Agenda Council on Climate Change, says:  "Smart business knows that taking climate action makes good business sense; it is prudent risk management and creates significant opportunities. Because industry is the primary driver of jobs and economic growth and also for cutting global emissions governments must give business the right tools and incentives to do the job at the scale and speed we need to safeguard our future climate, security and economic prosperity."

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