Climate change counsel for G8 summit addresses business

The 3C Initiative, which was coordinated by Vattenfall, is a global business initiative consisting of 42 member companies with a total turnover of 1 100 billion euros and 4 million employees in 220 countries. The initiative aims at forming a global opinion group consisting of companies showing leadership through the integration of climate change issues into the world of markets and trade, facilitated by means of a global framework coming into force in 2013.

The working process of 3C involves promoting efficient policies by mapping carbon dioxide abatement potentials in the global economy, making use of markets by developing emissions trading systems and flexible mechanisms, and achieving a strong technology push by supporting and disseminating key technologies.

“The presentation was very inspiring and commission members found it to be both interesting and thought provoking,.” said Laurent Corbier, Chairman of the ICC commission.

Mr Josefsson stressed that climate change is the biggest problem of our time and if not properly dealt with could destabilize markets. He underscored that business should play a leadership role in helping politicians and policy makers find a consensus on global solutions.

“We have the needed technology and cannot afford to wait for new technology to develop,” Mr Josefsson said.

Mr Josefsson was particularly interested in the global reach of ICC, which has hundreds of thousands of member companies in over 130 countries and interests spanning every sector of private enterprise.

The commission also heard presentations by Young-Woo Park, President of the Korean Chamber of Commerce and Business Institute for Sustainable Development, on the challenges of Korean and Asian climate change policy and by Sylvie Lemmet, Director of the United Nations Environmental Programme Division of Technology, Industry and Economics, on ICC and business input on UNEP goals and projects.