The United Nations Climate Change Conference (called COP15) is well underway in Copenhagen. We are a member of three leading climate partner groups attending COP15: World Wildlife Fund’s Climate Savers, The Climate Group and the United States Climate Action Program (USCAP) and are engaged with them in conversations at the conference. Cécile Astuguevieille from our EU-based Government Affairs and Policy group shares her impressions of the business summit:

The great engagement of the business into climate change policies highlighted the first day of meetings attended by Johnson & Johnson in Copenhagen. The Corporate Leaders Group on Climate Change gathered business leaders from the construction, media, insurance sectors and the signatories of the Copenhagen Communiqué (which Johnson & Johnson endorsed) to debate on the low carbon economy and the policy priorities post Copenhagen. The companies reported on the various energy efficiency initiatives they have launched and on the use of renewable energy to significantly reduce their global GHG emissions.  The transition towards a low carbon economy is considered a challenge but also a great opportunity for the businesses to foster innovation and competitiveness.  It was also mentioned that complementary initiatives, such as taxation of energy, should be taken in addition to the cap-and–trade system for more effective climate change policies. A recurring theme of the debate was that very few barriers to the transition towards a low carbon economy remain, apart from the political will.

The World Wildlife Fund (WWF) Climate Business Day was organized by the WWF Climate Savers group of companies (Johnson & Johnson is a member of Climate Savers). The debate focused on the engagement of financial and insurance sectors, both of which consider CO2 regulations a growing opportunity for investments. Climate change regulations could transform CO2 into a new global currency which will imply new potential for investment in innovative sectors. It was, however, emphasized that such incentives to innovation will be effective only if the global carbon market is built on clear rules that companies can rely on.

The important presence and visibility of companies from diverse sectors in Copenhagen and during the coming week confirm the transition towards a low carbon economy as the current biggest challenge that business is already engaged in. Also, everyone’s uncertainty regarding the outcome of the Summit appeared quite clearly today, and business hopes that a strong and binding agreement will be concluded on December 18^th.