Business statement on climate
change
Bonn, 24
July, 2001 - As governments
reach agreement on aspects of the climate change challenge, business - a crucial
provider of solutions - offers its response.
Overall, ICC - the world
business organization - recognizes considerable progress has been made in Bonn,
largely thanks to governments participating in a more rational and business-like
process than before.
Specifically, progress has
been made on:
· recognizing the role of sinks and carbon
capture in the CDM;
· precluding taxes on Joint Implementation
(JI) and Emissions Trading and basing the share of proceeds on credits rather
than on financial contributions;
· minimizing the levy on CDM projects; and
· establishing Fast Track CDM.
However, ICC remains concerned
that additional detail is required in the agreement for businesses to make expedient
investment decisions.
In particular, further attention
needs to be paid to:
· earlier business calls for "a detailed
and realistic compliance regime where enforcement and liability are well defined";
· the total fee, the project cycle and the
bureaucratic requirements in the CDM;
· the role of business entities and the
effect of the compliance regime on credits acquired or sold by businesses with
respect to Emissions Trading;
· the limitation to only the smallest of
projects under Fast Track CDM; and
· the fact the agreement does not address
early action in JI.
Furthermore, ICC believes
climate change is a long-term challenge. It requires a comprehensive global
effort involving the use of all available technologies.
ICC is the world's largest business organization. With more than 7,000 member
companies in over 140 countries, it represents a broad constituency. These companies
operate in a wide range of business sectors. All of the companies are concerned
about the strategies required to combat climate change. ICC facilitates the
Business and Industry NGO (BINGO) delegation in Bonn.
ICC Media: Bryce Corbett
- 0172 439 4108 Jack Whelan - 0172 439 4111
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