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The Commerce of Climate

The Commerce of Climate. 29 SEPTEMBER 2007. Photo by roger Braithwaite and Jay Zwally. Agenda. Introduction Brief overview of the issue (10 mins) Panelist presentations (5 mins each) Open debate (45 mins) Short break Break-out Groups (30 mins) Debrief at 16.15.

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The Commerce of Climate

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  1. The Commerce of Climate 29 SEPTEMBER 2007 Photo byrogerBraithwaite and Jay Zwally

  2. Agenda • Introduction • Brief overview of the issue (10 mins) • Panelist presentations (5 mins each) • Open debate (45 mins) • Short break • Break-out Groups (30 mins) • Debrief at 16.15

  3. The Stern Review ’06: The Economics of ClimateChange • The scientific evidence is overwhelming: It’s happening and the global risks are severe SourceHurricaneKatrina picture (right): http://www.elsevier.nl/artimg/200701/Katrinaworldpress.jpg

  4. The Stern Review ’06: The Economics of ClimateChange • Climate Change is the greatest and widest-ranging market failure ever seen • Stern calls for cuts in CO2 emissions of between 50-80% • Kyoto Protocol at 5% average global cuts • EU agreed to 20% cuts by 2020 http://www.hm-treasury.gov.uk/media/8AC/F7/Executive_Summary.pdf

  5. The Stern Review ’06: The Economics of ClimateChange • Total cost of Business-As-Usual = 20% reduction in per capita consumption, now and into the future • Annual costs of stabilization ≈ 1% of GDP by 2050 • Significant, but manageable • The transition to a low-carbon economy will bring challenges for competitiveness, but also opportunities for growth • There is a high price to delay • If we don’t act within 10 years, it may be too late

  6. Good News/Bad News • G-8 statement • US policy shift • China • Large Cities Initiative with Clinton • Breakthrough at the Montreal Protocol • The Inconvenient Truth tips public opinion (and wins Oscar)

  7. The International Policy Debate • Kyoto Protocol country commitments • Post-Kyoto negotiations • G-8 • Bush’s Big Emitters Group • No New Oil campaign Picture source: www.cbc.ca/news/background/kyoto

  8. Tackling Climate Change Action vs. Inaction?

  9. Questions • After reading the Stern Review, how do you see your company being part of the solution? • Can you meet a 50-80% cut in CO2 emissions vs. 1990 levels? • What climate investments are you making? • What structural changes do you think are necessary to meet the climate challenge? • Does your personal carbon footprint matter? • How can a business school make a difference?

  10. Break-Out Groups

  11. Additional Reading UN’s Climate Secretariat www.unfccc.int Intergovernmental Panel on CC www.ipcc.ch RSM’s Sustainability and Climate Research www.erim.eur.nl/scr Planet 2025 e-news bulletin www.planet2025news.net/ Check your carbon footprint www.carbonfootprint.com

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