The annual Davos forum of global political and business leaders has wound up with climate change having garnered much of the attention of attendees this time around.
German chancellor Angela Merkel, who this year fills the rotating presidency of the EU, reinforced her earlier remarks saying stronger action is needed to tackle climate change. "Politics by itself cannot prevent climate change. We need a climate regime that involves all major greenhouse emitters. Therefore, the impulses also must derive from business.''
The chief executive of the world’s largest aluminium producer, Alcoa’s Alain Belda, told the forum that business is now ready to cut greenhouse gas emissions if political leaders set the standards. Aluminium production is among the most greenhouse intensive industries, drawing on huge amounts of energy.
"It's just that we haven't seen leadership from the [US] government to take this action on and promulgate the kind of legislation that would make sense.''
US Republican Senator and presidential hopeful John McCain predicted that moves toward national legislative action on climate change would happen very soon in the US as the new Democrat controlled Congress forced the Bush Administration’s hand. "I admit that it is very late, and it may not be enough, but I think that for the first time you are going to see some action on this compelling issue," McCain said.
Zhang Xiaoqiang, the vice-chairman of China's National Development and Reform Commission, committed his country to reduce emissions from its dirty and inefficient industries but stressed that it expected help from the West to do so.
Sir Nicholas Stern, author of the landmark 2006 Stern Review on the economic costs of climate change for the UK government, called for the introduction of carbon taxes saying it the best course of action is to move quickly towards a harmonised global carbon price.
On that theme, a business initiative was announced by Swedish power company Vattenfall, US power giant Duke Energy, US aluminium producer Alcan and the International Emissions Trading Association (IETA) to promote carbon trading wordlwide.
Lord Peter Levene from UK insurer Lloyd’s of London said that the potential costs of damage from global warming made climate change the number one challenge, after the industry had paid out $60 billion on hurricane impacts in 2005.
Bloomberg, Korea Herald 26/1/07, Environmental News Service 29/1/07