The outlook for the next meeting of the United Nations Framework Convention on Climate Change (UNFCCC) Conference / Meeting of the Parties - COP17/MOP7 – is to be held over two weeks from the end of November in Durban, South Africa, has left many uncertain on the way forward.
The end of the first commitment period of the Kyoto Protocol, 31 December 2012, is approaching quickly with none of the global binding agreements that are considered as necessary to support a global response to human induced climate change in place. This is of grave concern, since as well as providing no pathway to a low carbon economy and to limiting temperature increases to below 2 degrees, it has an impact on the carbon markets which underpin the previous vision of technology sharing and an efficient path to reductions.
With the first commitment period of the Kyoto Protocol expiring at the end of next year positive outcomes from COP17 need to be generated. Business is realising that it is a key stakeholder with a role to play in the negotiations - business must be part of the solution and the design of mechanisms to engage business surely would benefit from business input.
The Deloitte Sustainability & Climate Change team have published a summary of predictions on the outcome of COP 17 , that looks at both the impact of the negotiations on business and possible outcomes.
Click here to download COP 17 predictions