More than 500 international business recently came together to push for wealthier nations to commit to "immediate and deep" cuts in their greenhouse emissions at the U.N. climate talks currently being held, CIG has learned.
The assembly of some of the world's largest energy companies, retailers and manufacturers said not achieving strong new climate goals at U.N. talks in Copenhagen in December would wear down confidence and dramatically slow investment in low-carbon technology, which CIG believes is inevitable and research shows, requires instant attention.
CIG recently launched an investment analysis of the opportunities into the sphere of carbon credit trading and believes it to be a huge industry opportunity with the potential to gain investors significant returns as well as offering the environment what could possibly be its only immediate lifeline.
"These are difficult and challenging times for the international business community and a poor outcome from...Copenhagen will only make them more so, a statement issued by the participating nations at the U.N. summit in New York said.
Differences between rich and poor countries over emissions caps and the amount of money emerging nations should be given to cope with climate change have hindered preliminary talks before the U.N. negotiations in the Danish capital.
The business group advocated nations to leave behind their differences and tackle climate change with the same critical, joint approach they took during the economic crisis.
