Businesses Taking Action on Climate Change

Over the weekend The Verb had a break from COP16, instead brushing shoulders with some of the world’s leading entrepreneurs and green business leaders at the inaugural World Climate Summit.

It was a tough gig for two hungry and exhausted The Verb reporters. Thankfully business leaders like their events well catered.

It was primarily a conference for global business leaders in clean technology and green initiatives to collaborate and share ideas or experiences to accelerate solutions to climate change. It also highlighted the importance (and opportunities) of the private sector leading in climate action, and showcased some fantastic innovations and initiatives underway by the business community.

It brought together more than 800 delegates and 140 business, finance, and government leaders such as Mexican President Calderon, Sir Richard Branson, Ted Turner, Lord Stern, Mary Robinson, Jose Maria Figueres, and UNFCCC Secretary General Christiana Figueres.

It was also a chance to award the first Gigaton awards to the leading emission-reducing companies.

Started by Sunil Paul, a clean tech investor and entrepreneur, along with Sir Richard Branson’s Carbon War Room, the winners are chosen by their peers.

“It’s like the Oscars of the business world,” Sunil told The Verb.

The prizes were awarded to Nike, Reckitt Benckiser Group, Suzlon, 3M, Vodafone and GDF Suez.

It was interesting seeing business so readily able and willing to act on climate change, especially in light of recent criticism of the UNFCCC process, which seems to be moving slower than criticism the now rapidly melting glaciers. It certainly highlighted how the private sector can be world leaders on climate change.

It was much more inspiring than sitting in the plenaries of seeing the inaction and lack of  leadership by national leaders

While climate summits can act as catalysts in instituting changes through political legitimisation of issues at a highest level, and in turn lead to an acceleration of domestic policies being adopted, they can also create incentives for the private sector to take action. And it is here where the most meaningful action on changing habits can occur.

Unfortunately so far this year businesses have been the catalysts for change. Yet for all their good, as all businesses agreed only the UNFCCC could bring about the changes and policies to act on this global issue. Let’s hope it’s a message they receive when final week negotiations begin tomorrow.