Business Implications Of The Copenhagen Accord
Date: 20 December 2009
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6 pages, 2 figures
Released on December 19, 2009, the Copenhagen Accord is a three page political declaration that is intended to frame future UN climate change negotiations and codify national policies on adaptation and mitigation. Verdantix believes that the most meaningful elements of the deal are the increased potential for US involvement in a global climate change regime, inclusion of developing country reduction plans in global reporting, and larger pledges of financial support for developing countries. But severe limitations of the Copenhagen Accord will perpetuate policy uncertainties. Missing elements include a lack of a deadline to negotiate a successor Treaty to the Kyoto Protocol, no legally-binding GHG emission reduction targets, no coverage of aviation and maritime emissions and no reform of the Clean Development Mechanism market. Smart sustainability leaders need to explain to the CEO that the Copenhagen Accord doesn’t mean carbon management plans should be shelved in 2010.
TABLE OF CONTENTS
COPENHAGEN ACCORD PUTS FOCUS ON NATIONAL POLICIES
Accord Increases Probability Of US Senate Approval For Kerry-Boxer
Severe Limitations Of Copenhagen Perpetuate Policy Uncertainties
What Copenhagen Means For Corporate Sustainability Leaders
TABLE OF FIGURES
Figure 1. Unilateral National Commitments To Reduce GHG Emissions
Figure 2. Impact Of Copenhagen Accord On Climate Change Policy Expectations
Acclimatise, Anglo-American, Deloitte, Dow, Forum For The Future, RWE, WWF