COP17 Fell Short: How Can Businesses Pick Up the Slack?December 15, 2011
Last week, in Durban, South Africa, over 190 countries concluded negotiations to frame new international commitments to address global climate change. COP17 was a crucial gathering because time is limited to negotiate a successor to the Kyoto Protocol, the legally-binding international agreement to reduce greenhouse gas emissions that is set to expire in 2012.
In spite of the imminent deadline, a new global agreement was not reached. Developed, developing, and emerging economy countries are too far apart to reach a shared vision. In addition, the financing to achieve the scale of mitigation and adaption estimated to be needed by 2020 isn’t forthcoming.
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