Green economy to dominate WEF

Leading business members will meet today for the annual World Economic Forum (WEF) in Davos, Switzerland.  Attendees are set to find applicable strategies that governments and businesses can use to build the future's green and sustainable economy.  The WEF, which began yesterday will continue up to the month’s end. 

Six international business groups representing over 200 multinational companies: Climate Group, Business for Innovative Climate & Energy Policy (BICEP), Carbon Markets & Investors Association (CMIA), Clean Economy Network, Combat Climate Change (3C) and Copenhagen Climate Councile will urge officials to immediately implement or exceed goals set by the Copenhagen accords last year. 

Critics of the Copenhagen Accords have called it unambitious, and while the accords may not be perfect, they represent the world taking the first steps towards the changes we need to prevent the destruction of our planet.  The hope is to cap the global temperature rise at 2 degrees.  At the WEF, companies and governments can work alongside one another to discuss strategies and find solutions. The stage is also set at the WEF to begin to plan topics for Copenhagen's successor in Mexico City later this year.

Many topics will be discussed throughout the WEF.  One of today's environmental-business discussions is: how to practically finance the estimated yearly US$ 500 billion between now and 2030 that is thought necessary to curb climate change.  With such an incredible mass of money needed, officials need to plan what kind of financial mechanisms and partnerships will succeed.  A panel will also gather to discuss corporate and national energy planning.  The panel will focus on how to merge the interests of producers and consumers to build a secure and sustainable energy system.

In addition to energy investments, panels will also attempt to rethink trade and the role international trade in the globalised world plays in carbon emissions.   Trade has to become a catalyst for carbon reduction, rather than a contributor to carbon production.  In the globalised world full of multi-national corporations, this is a key issue if we are to reduce our carbon footprint.

The WEF’s website lists the planned programme as well as streamable webcasts and highlights.  Over one and half million people are following the event via the WEF's twitter page.

Author: Michael Good | Climate Action

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