UN calls on business to create green economy

The Times
May 25, 2009
David Robertson

Ban Ki Moon, the UN Secretary-General, has called on the world's leading businesses to help to “retool the economy into one that is cleaner, greener and more sustainable”.
More than 500 business leaders met in Copenhagen yesterday to discuss the threat posed by climate change. Later in the year a United Nations summit is expected to draw up plans for a successor to the Kyoto Treaty, which is due to lapse in 2012.
The chief executives of companies such as BP, Intel, Pepsico, Nestlé, Ericsson and China Mobile met to discuss a range of issues, including “shaping the green economy”.
Mr Ban, who opened the conference, told delegates: “I want to see you in the vanguard of an unprecedented effort to retool the global economy into one that is cleaner, greener and more sustainable. We must harness the necessary political will to seal the deal on an ambitious new climate agreement in December.

“Continuing to pour trillions of dollars into fossil-fuel subsidies is like investing in sub-prime real estate. Our carbon-based infrastructure is like a toxic asset that threatens the portfolio of global goods, from public health to food security.”
Al Gore, the former vice-president of the United States, called on business leaders not to stand in the way of cutting carbon emissions. He said: “The business community and the leaders of the world must go together to safeguard the world. It's time to act now. We have to do it this year, not next year. Every nation, every business leader has a role to play in order to ensure a good and real deal in Copenhagen.”
The UN hopes to agree a successor to Kyoto at the Copenhagen meeting in December. This is expected to call for large reductions in carbon dioxide emissions worldwide.
The European Union has already committed to cutting emissions by 20 per cent by 2020 but will raise the target to 30 per cent if other nations agree to a similar target.
Delegates discussed a range of issues, including how to create a sustainable global economy and the government policies needed to stimulate low-carbon growth. The conference will continue for the next two days.