The Commerce of Climate - Erasmus Research Institute of
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Transcript The Commerce of Climate - Erasmus Research Institute of
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
The Stern Review ’06: The Economics of Climate
Change
The scientific evidence is overwhelming: It’s
happening and the global risks are severe
SOURCE HURRICANE KATRINA PICTURE (RIGHT):
HTTP://WWW.ELSEVIER.NL/ARTIMG/200701/KATRINAWORLDPRESS.JPG
The Stern Review ’06: The Economics of Climate
Change
Climate Change is the greatest and widest-ranging
market failure ever seen
HTTP://WWW.HM-TREASURY.GOV.UK/MEDIA/8AC/F7/EXECUTIVE_SUMMARY.PDF
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
The Stern Review ’06: The Economics of Climate
Change
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
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)
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
Tackling Climate Change
Action vs. Inaction?
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?
Break-Out Groups
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