“Business needs clarity to invest and deploy technology to solve the climate crisis going out 10, 15, 20 years. Otherwise, business cannot assess the profitability of these investments,” Mr Sebban told more than 150 high-level decision makers from companies, governments, and intergovernmental organizations who gathered to share perspectives on a post-2012 climate change. The Business Day was co-hosted by ICC and the World Business Council for Sustainable Development.
The one-day gathering was held in close cooperation with the United Nations Framework Convention on Climate Change (UNFCCC). The Business Day feeds business insights into the negotiation process aimed at striking a workable climate policy framework. ICC has long been the focal point for business views in the UNFCCC negotiations and has a major delegation in Poznań.
Yvo de Boer, Executive Secretary of UNFCCC, addressed the audience and posed three questions to business participants: how to improve market mechanisms, what kind of mechanisms should be publicly financed, and what is the most useful institutional framework.
In his speech, Mr Sebban responded to these three questions, saying business needs intellectual property rights protection, innovative funding mechanisms, and the removal of trade and investment barriers.
Companies and investors issued strong appeals for decisive action to tackle climate change during the the 14th Conference of the Parties (COP) in Poznan, in which close to 200 countries are participating.
The Business Day, aimed at fostering dialogue between business and government, was well-attended by UNFCCC negotiators.