Business & Money

Is a Copenhagen climate deal vital for British business?

The business world is being warned it stands at a ‘fork in the road’ ahead of a pivotal summit of world leaders to address climate change.

The warning comes from a key environmental group ahead of the UN Climate Change Summit in Copenhagen in December.

Steve Howard, CEO of influential NGO (non-governmental organisation), The Climate Group says a positive conclusion to Copenhagen could create a new "industrial revolution" in green goods and services and create huge opportunities for business. A failure to reach agreement, he warns, could have a major impact on all businesses.

"Every product, every business, every service will be affected… whatever your business, whether it's making potato chips or banking, this touches on you. Talk to your government and see what you can do in your business strategy."

His comments come as the results of the third annual Climate Confidence Monitor (CMM) commissioned by the HSBC Climate Partnership show a growing clamour from around the world that people are keen for their governments to tackle climate change with the same priority and level of investment as they're putting into rebuilding the economy.

The results showed that confidence in leaders doing what is needed to tackle climate change remains low, though it is up on 2008. People's intentions to make a personal effort to reduce their own impact on climate change have also risen 4% globally since last year.

A further seven in 10 agreed that addressing climate change is as important, if not more so, than support for their national economy in the downturn.

Overall, respondents believe the governments need to commit to a Copenhagen deal, with 65% rating the issue as 'very important'.  

Here experts Steve Howard (The Climate Group), Francis Sullivan (sustainability specialist at HSBC) and environmental advisor Lord Nick Stern discuss the implications of the CCM results and the impact a deal at Copenhagen would have on businesses:

For more information, visit the HSBC Climate Confidence Monitor website here.