Companies, business associations effective agents to counter climate change

Published: Sunday 15 October 2006

Climate Change UK

Companies and business associations will be the most effective agents in countering climate change, according to a recent survey. The survey, conducted by international opinion research firm GlobeScan, explored sustainability experts' views on approaches to climate change, post-2012 -- when the Kyoto Protocol will expire.

Forty-six per cent of the experts believe that the World Business Council for Sustainable Development will play a major role in defining or implementing climate change solutions over the next five years -- second only to the European Union (79 per cent). Sixty-five per cent of the respondents expect that private sector companies and business associations will be leading the implementation of appropriate solutions in the coming years, though currently, governments are seen to be influencing society's reaction to climate change the most.

What will climate change solutions look like? Experts predict that economic instruments, new science and technology, and regulatory approaches will be the most effective approaches in the post-Kyoto world. The development of renewable energy sources is seen as a more effective solution to climate change compared to the use of clean coal combustion, carbon capture and sequestration techniques. Among financial mechanisms explored, carbon taxes and emission trading are seen as the most effective potential instruments.

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