Global business leaders give G8 leaders a practical climate change plan

A group of 99 CEOs, representing all sectors and regions and collectively more than 10% of the value of the world's publicly quoted firms, urge adoption of a rapid and fundamental strategy by governments to bring about a low-carbon world economy.

The group calls on the G8 and other developed country governments to provide leadership through deep absolute cuts in their greenhouse gas emissions (GHG), as well as direct work with the international business community to develop a pragmatic strategy of cost-effective, medium-term carbon abatement opportunities.

Facilitated by the World Economic Forum and the World Business Council for Sustainable Development, the new policy framework recommended by the CEOs represents a significant departure from the structure of the 1997 Kyoto Accord - more flexible and more results-oriented.

The business leaders suggest a combination of top-down international commitments by governments, particularly by developed economies but also including emerging economies, and practical bottom-up efforts within and across industry sectors in the form of a multifaceted agenda of intensified public-private cooperation.

World Economic Forum Founder and Executive Chairman Klaus Schwab said, “The business community has a crucial contribution to make to the design of a more effective global strategy to combat global warming. These business leaders are sending a clear message to governments that they are willing and able to engage with ideas and other support if invited to do so. Having reached consensus among leading firms from virtually every industry and region, they have given us a concrete vision of how the international community could construct a plan that is both environmentally and economically sound. I congratulate them for the pragmatic, can-do spirit with which they approached this initiative, which ought to be a source of inspiration for everyone, not least the G8 leaders who will meet in two weeks.”

For full details: http://www.weforum.org/climate.