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December 10, 2011

Contact: Jack Thirolf
Email: [email protected]

BCSE Welcomes Comprehensive Outcomes in Durban

Signals Sent to Investors that Governments
Are Committed to a Low Carbon Future

WASHINGTON, DC-The Business Council for Sustainable Energy (BCSE) released the following statement from BCSE President Lisa Jacobson in reaction to the outcomes agreed to at the close of COP17/CMP7 in Durban, South Africa:

"The Business Council for Sustainable Energy was founded in 1992 at the Rio Earth Summit. Our coalition of clean energy businesses is committed to the multilateral process and the fight against climate change that began in Rio. We welcome the outcomes in Durban as a significant affirmation of the multilateral process and we praise the operationalization of the Cancún Agreements reached last year at COP16/CMP6.

"This comprehensive agreement resolves critical questions for the business community. The decisions provide clarity by agreeing to a second commitment period of the Kyoto Protocol, which preserves the legally binding targets and timetables approach along with market-based mechanisms that enable cost-effective emission reductions. It makes clear that the CDM will be available, which offers the opportunity to broaden sustainable development benefits of emission reduction activities.

"It also provides a path forward for negotiations that focus on reaching an agreement among all Parties with legal force. The Durban Platform, combined with the other documents adopted today, make it clear to investors that governments are committed to reducing emissions and that investors should continue to direct capital toward low emissions technologies and energy resources.

"The Green Climate Fund (GCF) specifically is an important tool to mobilize investment in clean energy technologies for nations on the front lines of climate change, to aid both in adaptation and sustainable clean energy development. The Climate Technology Center and Network (CTC&N) provides a channel for business to do what they do best-offer expertise on technology and how to deploy it. The BCSE looks forward to working with the Parties to continue bringing the GCF and CTC&N to life and to helping the new institutions leverage businesses' technological expertise and financing abilities."

To learn more about the BCSE's COP17/CMP7 delegation and its activities and priorities in Durban, please see BCSE in Action.