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Business and Climate Change

Explore how the Stern Report highlights the economic benefits of tackling climate change and the risks of inaction, along with key business responses and opportunities in response to climate challenges.

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Business and Climate Change

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  1. Business and Climate Change

  2. The Stern Report • Almost a year ago a major (UK) Government report warned action was needed within the decade, to tackle climate change. • Stern report: Tackling climate change would allow the country’s economy to grow, while ignoring it would undermine economic growth. • What has changed since then?

  3. Stern Report… Fiona Hall, North East MEP and Liberal Democrat Energy Spokesperson in the EU • “The madness of failing to act is clear not only from the point of view of saving the planet but also according to economics. The Stern Report laid out clearly that the sooner we tackle climate change the less of an impact it is likely to have on the world’s economy. Extreme weather could reduce global GDP by 1%. • “However, in the worst case scenario, if we fail to tackle climate change immediately, this fall in GDP could be as much as 20%”

  4. Business Risks… • the strong threat of increasingly volatile weather conditions, • rising sea levels, and new health impacts; • resulting impacts on insurance markets, business resources, • personnel, and corporate preparedness; • increasing legal and regulatory pressures; and • mounting public and shareholder activism.

  5. Business ‘opportunities’ • General Electric Co. has undertaken an initiative it calls “Ecomagination,” with plans to double its revenues from “green products”—including wind turbines and coal gasification technology—by 2010. • DuPont has committed to reducing its GHG emissions by 65 percent in 2010 compared to its 1990 levels. • Bank of America has outlined a set of actions aimed at reducing GHG emissions in both its operations and its investment opportunities.

  6. But… • Greenwashing? • Pushing for $ rather than protection? • Biofuel…

  7. Climate Change Policy & the Business Response: Key Developments in the U.S.

  8. The USCAP Recommendations

  9. Another group… • 3C – Combat Climate Change

  10. On the other hand.. • We can look at the example of biofuels • Profits • Presented as a minimizer of GHG • But… • Impacts -

  11. Homework • Read all the readings • Email me by Friday: • One statement thesis (not a summary: an analysis) • Outline • 2 pages justifying your thesis – based on the readings

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