We all know that the expectations for the Copenhagen conference were very high, but after two years of negotiations many of those people closely involved in the negotiations knew, at least for the last few months, that a substantive agreement on global targets, finance and forestry was unlikely at the conference. There was hope that the appearance of so many powerful heads of state would make the difference, but ultimately many feel let down by the Copenhagen Accord.
The Accord has no hard target nor a clear position on measures to prevent further deforestation and perhaps most importantly there is no timetable for the legal agreement required to replace the Kyoto Agreement in 2012. Hope now turns to the negotiations in Germany in June and in Mexico in November 2010.
What can we take from Copenhagen? In the end we did see collaboration between some of the countries with the largest proportions of global emissions: USA, China, India, Brazil and South Africa agreed to the Accord, which included the vital reference point of a limit on global temperate rise of 2 degrees Celsius. Even if there is not a plan to deliver this goal it will be hard for global leaders to now challenge the science and the equity of the need to act on climate change. It is not a case of whether action will happen, but when.
The evidence base for urgent action is building and this includes the economic basis for early action before 2020 rather than further delay. The year 2010 will be a time for domestic climate policy to progress and for organizations to continue to position themselves for the transition to a low carbon economy. There are many who are already leading this change and are benefiting from this enlightened management of risk. Structural change is happening in many institutions on a global scale and only time will tell whether we are making that change quick enough.
As a company CA is preparing for a low carbon economy, both as an organization and in our products. The prospects for 2010-2015 are promising and we are already working with some of the organizations that are the sustainability leaders in their space. Like many other businesses though we need clarity from the UNFCCC negotiations in 2010 to ensure we invest wisely.