Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Business key to climate solution

Jan 28 2011 11:37 AP

Related Articles

Carbon tax could hurt business, consumers

SA to subsidise green energy

'SA must speed up carbon taxes'

Billions could be saved on energy - MP

Light bulbs boost energy savings

Crisis talks to stop blackout

 

Top Stories

Cell C move sparks price war

May 27 2012 11:21

There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.

Tupperware agents incensed by fakes

May 27 2012 11:49

The country's 200 000-odd Tupperware agents are angry about the counterfeit products being sold as the real McCoy.

Another golf estate victim

May 27 2012 13:09

The oversupply of golf estates has claimed another victim.

 
Share Share line Print
Davos - Businesses, especially US ones, must get more involved in the global effort to slow climate change and help pressure politicians to enact policies that promote green growth, international leaders have said.

"They are part of the problem and they must be part of the solution," President Jacob Zuma said on Thursday at the World Economic Forum.

In a panel discussion at Davos, where some 2 500 business leaders and politicians are gathered, he vowed to press for a greater corporate role in the UN climate talks that his country will host in Durban later this year.

"I think that's one of the areas we are going to work very hard leading to Durban to convince business to be party so that it's not just governments alone," Zuma said, sharing the stage with Mexico President Felipe Calderon, European Union Climate Commissioner Connie Hedegaard and UN climate chief Christiana Figueres.

There is serious concern about how to keep the global economy moving forward while, at the same time, ensuring that people in the developing world are not denied a chance to better their lives without contributing to factors that have caused global warming.

Politics

Hedegaard said that governments can provide the right conditions for green growth, but "the solutions have to come from business".

"That is why setting the political targets are so crucial because then we can set a price on carbon," she said. "If it costs a lot to pollute a lot, then business has an incentive to pollute less."

She noted that US President Barack Obama didn't mention climate change or global warming in his State of the Union address "because of the political situation". But she implored US businesses to be bolder in embracing more energy-efficient economies.

"It's bad business to not be among the front-runners," she said. "I hope that even more American business people would understand that they need to put the pressure on their politicians."

Calderon said very little can be achieved without US involvement, and he called for a change in American public opinion on global warming.

"My perception is most of the people in the United States are afraid about the economic situation," he said. "They perceive this issue of climate change like an obstacle for their own progress. And we need to change that perception."

China, which has overtaken the US as the biggest greenhouse gas emitter, has now realised it makes economic sense for it to become more energy efficient, Figueres said.

Rift

"China is committed to winning the green race," she said. "And honestly they are not doing it just because they want to save the planet. They are doing it because it's good for the economy."

The discussion comes after global talks on a new climate pact escaped failure last month in the Mexican resort town of Cancún, where nations agreed on a modest set of decisions that put climate change negotiations back on track after the bitterly divisive summit in 2009 in Copenhagen.

The Copenhagen talks exposed the rift between rich and poor nations on the fundamental question of how to share the responsibility of tackling climate change - chiefly curbing the emissions of heat-trapping gases from the burning of fossil fuels.

Copenhagen produced only a nonbinding accord with voluntary climate targets to cut greenhouse gas emissions that wasn't even formally adopted by the conference.

At Cancún, nations brought those voluntary pledges into the UN negotiating process and established a green fund to manage the $100bn a year by 2020 that developed countries have pledged to help poor nations cope with global warming.

But the ultimate goal of crafting a new global climate pact was put off till the next climate conference in Durban or beyond. The main issue that remains to be resolved is the legal status of such a treaty: Should the commitments inscribed in it be compulsory?

China and India oppose legally binding emissions targets, saying that would hobble the economic growth they need to lift millions of citizens out of poverty. For its part, the US says it would only consider binding commitments if China and India do the same.

 
 
Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

Perfin

I arranged two workshops in Cape Town at the Cape Chamber of Commerce offices as well as two computer based workshops, one on Google Adwords and another on Joomla Administrator at the training centre in Somerset West. Emarketing Workshops - http://emarketingworkshops.co.za/next-workshops 1. Interne... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...