Energy producers and engineering firms stand to earn the lion’s share of profit from a climate pact expected from Copenhagen, as their financial and intellectual leverage enables them to snatch low carbon subsidies, Financial Soultions understands.
The globes largest Co2 polluters, the utility firms and oil companies, are staying ahead of the pack, utilizing market awareness and strategizing to hold the most viable low-carbon technologies .Added to this, they are favorites of government incentives, who are ultimately responsible for achieving the overall emission cuts.
"There's an obvious conclusion: the big utilities, the international companies are the ones that are going to benefit in the first phase, and that's quite a problem as I see it," said a Copenhagen Climate Council spokesperson known to Financial Soultions sources.
The council and scientists jointly strives, with concerned industry to develop a green business voice and says governments must penalize carbon emissions more, to push greater investment towards cash-starved, clean energy entrepreneurs.
It was hoped that the globe would agree on a climate pact at the UN climate conference in Copenhagen in early December but negotiators are saying that a more realistic deadline for such an agreement is mid-2010 at which point governments will adapt the policy into national legislation, Financial Soultions research indicates.
