G8 Climate Change Roundtable

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The G8 Climate Change Roundtable was formed in January 2005 at the

Gleneagles, Scotland, from 6–8 July 2005, to coincide with the 31st G8 summit
.

The roundtable was established by twenty-three leading

greenhouse emissions
worldwide.

The group devised a Framework for Action which called for technology incentive programs, the establishment of common metrics,[4] for example in energy efficiency, and the expansion of emissions trading schemes.

Some of the companies participating include Ford, British Airways, HSBC, Électricité de France and BP.[5] Now, the Climate Change Roundtable has a membership of 150 businesses spread across the globe.[6]

Environmentalists raised concerns that the body's statement does not call for targets or include timetables.[5] Friends of the Earth noted that the roundtable represented a major shift by the business community towards efforts to mitigate climate change.[5]

Key principles

The G8 Climate Change Roundtable stated 5 key points to be addressed:

  • Companies must recognize their responsibility in addressing climate change.
  • The issue of climate change requires further international attention and support.
  • Market forces
    must be considered in the crafting of a solution, consumer support is needed to solve the problem.
  • Specific policies for the mitigation of climate change.
  • Specific policies which should be adopted by G8 members.

For business

The G8 Climate Change Roundtable developed 5 key principles for businesses to consider when crafting a climate change mitigation strategy. These principles are:

  • Strategies should be based on
    economic
    facts.
  • Businesses should adopt market based policy frameworks which are
    price signals
    in the long-term.
  • Solutions should be adopted globally in order to achieve long-term success.
  • Climate change solutions must not be viewed in isolation from other global challenges, such as ensuring access to
    emerging markets.[7]
  • Businesses should seek a system wide solution, identifying opportunities for CO2 mitigation throughout the supply chain.

For governments

The G8 Climate Change Roundtable developed 3 key principles for governments to consider when addressing climate change. Governments should:

Policy framework

The G8 Climate Change Roundtable aimed to create a long-term policy framework which was both

carbon trading
, the Roundtable established a policy framework which now encompasses 150 businesses across the globe.

By creating long term value, these members established a market based framework extending to 2030 and indicative signals extending to 2050.

emerging markets
.

The Roundtable recommended encouraging technological innovation through performance based incentives.[3] By quickly commercializing low carbon technologies they aimed to mitigate climate change quickly. They noted that by ensuring that climate change mitigation goals aligned with societal goals, governments would be able to optimize greenhouse gas reductions. By ensuring that emerging markets, such as China, India, Brazil, South Africa and Mexico, invest in low carbon economic growth, new technologies can be applied globally while streamlining emerging markets. New investments should align with societal goals, creating partnerships between G8 nations as well as emerging nations. Through such a partnership, members can effectively collaborate on specific projects within countries or rapid dissemination of specific technologies.

Members of the new policy framework should establish common metrics. By streamlining greenhouse emissions reporting processes and systems, countries can achieve this goal. Business and G8 governments should use supply chain drivers and the power of procurement to integrate climate change solutions into their global supply chain requirements.[3] By committing to the use of the Roundtable's policy framework throughout the supply chain, optimal greenhouse gas mitigation can be achieved.

Participating companies

See also

References

  1. ^ "Ford Report On The Business Impact Of Climate Change" (PDF). Ford. Archived from the original (PDF) on 2 April 2013. Retrieved 23 March 2013.
  2. ^ "Bush Heads for G8 With Malaria Relief, Nod to Climate Change". Environmental News Service. 2005-07-01. Archived from the original on 2010-12-27. Retrieved 2009-12-04.
  3. ^ a b c d e "Statement of G8 Climate Change Roundtable" (PDF). World Economic Forum. Archived from the original (PDF) on 8 May 2013. Retrieved 23 March 2013.
  4. ^ "More Business Leaders Support Action on Climate Change". ClimateBiz. Greener World Media. 2005-07-10. Archived from the original on January 19, 2013. Retrieved 2009-12-04.
  5. ^ a b c Jeremy Lovell (2005-06-10). "Big Business Urges Urgent G8 Global Warming Action". Planet Ark. Thomson Reuters. Retrieved 2009-12-04.
  6. ^ "Global Warming and Climate Change". Retrieved 23 March 2013.
  7. ^ Voges, Klaus. "Climate Change Mitigation Technologies - the Siemens Roadmap to Carbon Capture and Storage" (PDF). World Energy Congress. Archived from the original (PDF) on 25 November 2011. Retrieved 23 March 2013.

External links

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