I firmly believe that the engagement of the business sector in fighting climate change is crucial.
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The first ever business day was held at the UN Framework Convention on Climate Change (UNFCCC) on Monday, organised by the World Business Council for Sustainable Development (WBCSD) and the International Chamber of Commerce (ICC). The event brought together some 350 decisions makers from companies, governments, intergovernmental and non governmental organisations to demonstrate business commitment to mitigating climate change.
UNFCCC’s Executive Secretary Yvo de Boer said at the meeting: "I firmly believe that the engagement of the business sector in fighting climate change is crucial... An international climate change deal for the post 2012 period should therefore be designed in a way that makes sense from a business point of view. But first we need political agreement on the launch of negotiations on such a new climate deal. And that has to happen this week here in Bali".
In the run up to the Bali conference, business leaders have already been talking the talk on climate change calling for a legally binding UN framework to tackle climate change. Some 150 global companies signed the Bali Communique led by the Prince of Wales’ UK and EU Corporate Leaders Group on Climate Change which called for a comprehensive, legally binding UN framework to tackle climate change. There have also been scores of reports of leading companies reducing their personal emissions and/or pledging large future cuts.
However, there are skeptics among some environmental NGOs who believe business is not serious about climate change mitigation and will continue to be a major emitter of emissions with little substance to the green pledges and climate change mitigation talk.
Speaking at the Bali Global Business Day, WBCSD President, Bjorn Stigson said: "The private sector is the major source of innovation, technology and investments that can transform the global energy system. We are making investment decisions that will impact the climate issue for 20, 30, 50 years or more into the future. To do ‘the right thing’ we need clarity on the policy framework within which we do our business.”
