29 SEPTEMBER 2007

The Commerce of Climate

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 breakBreak-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

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

The Stern Review ’06: The Economics of Climate Change

HTTP://WWW.HM-TREASURY.GOV.UK/MEDIA/8AC/F7/EXECUTIVE_SUMMARY.PDF

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

The Stern Review ’06: The Economics of Climate Change

Good News/Bad News

G-8 statementUS policy shiftChinaLarge Cities Initiative with ClintonBreakthrough at the Montreal ProtocolThe Inconvenient Truth tips public opinion

(and wins Oscar)

The International Policy Debate

Kyoto Protocol country commitmentsPost-Kyoto negotiationsG-8Bush’s Big Emitters GroupNo 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