Climate Solutions Businesses Call for International Framework to Support Global Carbon Market, More Investment
November 6, 2009, Barcelona Spain: Climate Solutions Businesses have come together to express concern that current proposals risk undermining increases in private investment and the development of a global carbon market. In a statement released today, they urge that a Copenhagen framework ensures:
- Mid-term and long-term signals to investors: Transparent and accountable policies that include near-term and long-term emissions reduction goals and account for investment timescales.
- Common structures for emissions targets and accounting: Commitment periods, compliance units, and registry and inventory standards, must be held common.
- Fast-start funding to developing countries: Meaningful provisions to build capacity and create healthy investment environments in developing countries.
- Continuity: The international community has developed trust in existing market mechanisms. They must not be arbitrarily discontinued or replaced. A commitment to continuity and reform must be made to ensure that existing investments are safeguarded and trust is maintained. This will allow the scaling up of capital for mechanisms post-2012 will be substantially easier.
- Private Sector Role: Post-2012 systems that have a role for private finance should utilize the expertise and consult with the business community in their design.
Flows of private sector resources – technological and financial – will add scale and speed to global efforts to mitigate emissions.
To download a full copy of the press release with contact information, please click here.
To download a full copy of the coalition's statement, please click here.