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Shaping thesustainable economySummary report of the World Business Summiton Climate ChangeCopenhagen, 24-26 May 2009A Monday Morning Initiative

THERE IS NOTMUCH TIME.WE HAVE TO DO ITTHIS YEAR.NOT NEXT YEAR.THIS YEAR […]THE CLOCK ISTICKING BECAUSEMOTHER NATUREDOES NOT DOBAILOUTS.”Former U.S. Vice President Al Gore

Summary report Foreword 3ForewordThe World Business Summit on Climate Change wasconvened in Copenhagen from 24-26 May at the samevenue that will host the COP15 in December this year.Over the course of three days, global leaders frombusiness, policy, civil society, and science, all engagedin dialogue on the road to a low-carbon future and therecommendations for an ambitious new climate changeframework.They heard from the United Nations Secretary-Generalon the need for business engagement and leadership;former U.S. Vice-President Al Gore on the critical importanceof an effective climate treaty and business leadersfrom more than 40 countries.The key objective of the World Business Summit on ClimateChange was to contribute input to the work of theDanish government and the United Nations negotiationsentering their final phase before COP15 in December. Atthe culmination of the Summit, the Copenhagen Callwas presented to Danish Prime Minister Lars Løkke Rasmussenby Copenhagen Climate Councilors and seniorbusiness representatives at the Summit.This statement is an unequivocal call for a more effectiveand ambitious global climate treaty. It was informedby work at the Summit and the contributions of thosepartners who supported the event: the World EconomicForum Climate Change Initiative; the World BusinessCouncil for Sustainable Development; the United NationsGlobal Compact; the Climate Group and 3C.What we take from this Summit is a positive commitmentto action. It is clear to all that the world is in themidst of a global recession. But having been part of discussionsduring the three days in Copenhagen, amongleaders within oil, energy, transportation, green tech,ICT and many other industries, our hopes are high. Weare optimistic. From deliberations at the Summit, andthe clarity of the Copenhagen Call, it is clear that globalleaders want change and are ready to deliver what isrequired.Our hope is that global political leaders will demonstratethe same leadership as global business leaders did on24-26 May in Copenhagen.Business leadership on climate change is vital, becausepoliticians listen to those agents that create wealth andvalue. And vital because if we are going to reduce emissionsand get the carbon cycle back into some kind ofbalance, those agents must create wealth and value inways that do not result in carbon pollution.Tim FlanneryChairAuthor and scientistErik RasmussenFounderEditor-in-Chief and CEO,Monday MorningThe Copenhagen Climate Council is a global collaboration between international business and science founded by the leading independent thinktank in Scandinavia, Monday Morning. The members of the Copenhagen Climate Council have come together to create global awareness of theimportance of the UN Climate Change Conference, in Copenhagen, in December 2009.

4 IndexSummary reportIndexForewordExecutive summaryThe Copenhagen CallWorking group session summariesOutcomes of side eventsList of participantsAbout the Copenhagen Climate CouncilNext stepsAbout Monday MorningAbout Planet CallSponsors0305101428303437383940

Summary report Executive summary 5Executive summaryOn 24-26 May 2009, more than 500 business leaders from some 40countries met with leading experts, government officials, and NGOrepresentatives at the World Business Summit on Climate Change,in Copenhagen.The objective of the Summit was to mobilize privatesector engagement in the development of the futurepolicy framework on climate change, and to provideconstructive ideas and practical proposals to supportan ambitious global deal on climate change at COP15 inCopenhagen in December 2009.The Summit was convened by the Copenhagen ClimateCouncil in collaboration with The Climate Group, 3C(Combat Climate Change), the United Nations GlobalCompact, the World Business Council for SustainableDevelopment, and the World Economic Forum’s ClimateChange Initiative, and with the full support of the DanishGovernment.“If I were a climate negotiator now,with six months to go, I’d be hopingthat business would step up the pressureon me. We need to be a bit brutalat times on the negotiators. Some ofthem might even welcome that.”Lord Michael Jay, Advisory Board Member,Globe InternationalThe underlying ambition of the Summit was to addressthe twin challenges of the climate and economiccrisis. Participants at the Summit addressed how theserisks can be turned into opportunities if business andgovernments work together and what policies, incentives,and investments, will most effectively stimulatelow-carbon growth.Key messages from the SummitBusiness is ready to act. If there is one overriding messagefrom business leaders at the Summit, it is that thecurrent economic downturn must not temper the ambitionsof governments to achieve a robust climate treatyin Copenhagen, as business is ready to respond andturn talk into action. Business leaders have the availablemodels and technologies, as well as the willingnessto implement what a new ambitious political frameworkwould demand. Economic recovery and urgent action totackle climate change can be complementary by boostingthe economy and jobs through investment in thenew infrastructure needed to reduce emissions.The Copenhagen CallAt the end of the Summit, the Copenhagen ClimateCouncil and its partners presented businessrecommendations – the Copenhagen Call - to theDanish Prime Minister Lars Løkke Rasmussen andthe UNFCCC Secretary General Yvo de Boer, whichcalls upon political leaders to agree an ambitiousand effective global climate treaty at COP15in Copenhagen. You can find the full text of theCopenhagen Call on pg. 10.The challenge is manageable and affordable. There wasrecognition that while action to tackle emissions growthwill result in short-term costs, this will be outweighedby long-term benefits of avoiding dangerous climatechange. The technical solutions are to a great extentavailable or emerging, but need to be fully implementedand supported by policy frameworks.Business recognizes and should act on climate changescience. Business stands ready to invest and developsolutions to climate change, based on input from thescientific community of the urgency and scale of theproblem. IPCC chair, Dr. R.K. Pachauri, noted duringdiscussions that we are “towards the upper end of therange” of the emissions paths assessed in the 2007Fourth Assessment Report. This concern was shared byformer U.S. Vice President Al Gore, who expressed howfuture generations would look back at us if “we choosenot to take action to avoid the horrendous catastrophethat the scientific community spelled out and told themwould happen if they did not act.”During the Summit, Pachauri and other scientistswarned that by not tackling climate change, here andnow, politicians would lead the world on a path towardan increased threat of war, population displacement,and terrorism.Politicians need the confidence to demonstrate trueleadership. It was clear during the Summit that businessleaders as well as civil society must support their nationalpolitical leaders. Several discussion leaders alsostressed that in order to reach a successful outcome inDecember 2009 focus on a bottom-up approach is crucial

6 Executive summarySummary report– both internally and externally. By mobilizing employeesin this regard, business leaders can help facilitatethe public support political leaders need to make bolddecisions and reach ambitious agreement.Next steps towards December 2009Business leaders at the Summit demonstrated a clearcommitment to the development of an ambitious futurepolicy framework for climate change and stand ready towork with policymakers to help reflect their ideas andconcerns in the international climate change treaty,which they hope will be agreed at Copenhagen. TheSummit highlighted two fundamental means to successin December 2009:“We all need to be active. It doesn’tend here. There are 208 days to go.Everybody that’s here needs to think,If I’m not satisfied with what comesout of Copenhagen, did my organization,my company, did I do everythingI could to get the best deal. Successwill have many parents.”Steve Howard, Chief Executive Officer,The Climate Group1. Business involvement, partnerships, and knowledge-sharing.Business has a critical role to play infinancing, developing, and deploying low-carbon solutions.Business is expected to provide the bulk of theinvestment required in the transition to a low-carboneconomy, so it is important to understand that investors– whether pension funds, companies, or venturecapitalists – need to make returns on their investments.Business also has a key role to play in low-carbon technologyinnovation and deployment, but there is also aneed for new alliances, and in some cases partnershipswith government. Technology innovation will onlyoccur if government goals and policies are clear andlongterm.Next steps• Ensure a clearer understanding between governmentofficials of how incentives or regulations can makelow-carbon investments commercially viable.• Improve the quality of information, transparency,and measurability for investors allocating funds forlow-carbon technologies.• Establish closer collaboration and consultation betweengovernments and business.2. Politicians need to get the mechanisms right.Mechanisms and regulations designed by governments,whether carbon markets, public-private partnerships,standards, or taxes, need to be designedto promote business engagement on climate change.Carbon markets should continue to play a centralrole in climate policy, but must be scaled up to aglobal level and complemented by other policies. It isvital that policies put a clear and long-term price oncarbon emissions that can steer the choices of consumers,businesses, and governments, over comingyears and decades. Shifting major infrastructure investmentdown a low-carbon path will only happenif the regulatory landscape is clear to investors.Next steps• Ensure involvement of businesses and organizationswhen designing mechanisms for a newglobal framework.• Create partnerships between business, science,and governments, on specific mechanisms crucialto a new global framework.Focus areas for businessThe Summit debates offered a variety of concreterecommendations from business leaders to theirpeers and from other stakeholders to business onhow corporate leaders can operate successfully inthe world of economic recession and climate change,and support the transition to a low-carbon economy.• Ensure the company is geared toward a fulltransition to a low-carbon future when agreementis reached on a new global framework on climatechange, by incorporating climate and corporatebusiness strategies.• Implement optimal energy efficiency systems,cleanest possible energy sources, and low-carbontechnologies, both in scale and scope.• Turn rhetoric into hard action and demonstrateto share and stakeholders that your business isprepared to move into the low-carbon economy.• Ensure a competitive advantage and attract youngtalent, by creating a green profile and engagingemployees in both internal and external carbonemissions reduction that will help stimulate abottom-up approach.• Involve the company in partnerships betweengovernments and sectors. These partnerships arecrucial to ensure the right investments and foundationsfor long-term, low-carbon, prosperity.

Summary report Executive summary 7Recommendations to policymakersThe Summit focused on nine issues, ranging fromtechnology collaboration to adaptation, which arecritical in the transition to a low-carbon economyand form key parts of the UN negotiations leadingup to COP15 (all working groups were built aroundthe five core themes from the Bali Action Plan). Asummary of each of these working groups and keyrecommendations is presented in this report (pg. 14).In spite of the differences in subject matter, a consistentset of recommendations emerged from thenine working groups:• Ensure robust, clear, and long-term, regulatorysignals for investors. Whether trading programs,performance standards, or taxes – that providegreater predictability, transparency, and securitywhen making long-term capital allocation decisions,such as investment in infrastructure.• Support technologies and methods that ensurecost-effective greenhouse gas emissions reductions.Governments should be ‘technologyneutral’ while focusing on incentivizing energyefficiency improvements and limiting deforestation,or forest degradation, as these can deliversignificant, cost-effective carbon emissions reductionsas well as provide a range of other benefits.• Secure better and more transparent disclosureto drive change among investors and consumers.This includes disclosure of corporate strategy andcapital investment decisions, greater use of carbonlabeling and energy efficiency performance,robust monitoring, reporting and verification protocols,and transparency in the costs and benefitsof new policies developed by governments.• Create the right environment for new collaborativefinancing mechanisms. Such as greeninfrastructure funds, public-private partnerships,and ‘climate bonds’ to support the developmentof low-carbon technologies that are currently notcommercially viable, and to scale-up the deploymentof those technologies that are.

Opposite page: Li Xiaolin, Chairwoman and Chief Executive Officer, China Power International Development. This page, clockwise from top left: Indra K. Nooyi, Chairman and ChiefExecutive Officer, PepsiCo; Philippe Joubert, President, Alstom Power; Alan Salzman, Chief Executive Officer, VantagePoint Venture Partners; Sir Martin Sorrell, Chief Executive, WPP;Yvo De Boer, Executive Sectretary, UNFCCC; Jim Prentice, Minister of the Environment, Canada; Orville Schell, Director, Center on U.S.-China Relations, Asia Society; Connie Hedegaard,Minister of Climate and Energy, Denmark, Erik Solheim, Minister of Environment and International Development, Norway; Richard Samans, Managing Director, World EconomicForum; Cate Blanchett, Co-Artistic Director, Sydney Theatre Company. © Copenhagen Climate Council / Peter SØrensen.

10 The Copenhagen CallSummary reportThe Copenhagen CallPresented at the World Business Summit on Climate ChangeCopenhagen on 26 May 2009.As global business leaders assembled at the World Business Summit on ClimateChange, we call upon our political leaders to agree an ambitious and effective globalclimate treaty at COP15 in Copenhagen. Sustainable economic progress requiresstabilizing and then reducing greenhouse gas emissions. Success at COP 15 willremove uncertainty, unleash additional investment, and bolster current efforts torevive growth in a sustainable way.By addressing the magnitude of the climate threat with urgency, a powerful globalclimate change treaty would help establish a firm foundation for a sustainable economicfuture. This would set a more predictable framework for companies to planand invest, provide a stimulus for renewed prosperity and a more secure climatesystem. Economic recovery and urgent action to tackle climate change are complementary– boosting the economy and jobs through investment in the new infrastructureneeded to reduce emissions.Business is at its best when innovating to achieve a goal and the goal of reducinggreenhouse gas emissions is vital to our common social, economic and environmentalfuture. At the Summit we agreed that this will require:1. Agreement on a science-based greenhouse gas stabilization path with 2020 and2050 emissions reduction targets.We support the scientific evidence of the IPCC’s 4th Assessment Report. We areconcerned that some recent scientific evidence suggests the problem may be worsethan many of the IPCC estimates.An effective global climate treaty must establish an ambitious goal and set emissiontargets that protect us and future generations from the risks of climate destabilization.Limiting the global average temperature increase to a maximum of 2degrees Celsius compared to pre-industrial levels would entail abatement of around17Gt versus business-as-usual by 2020. This will require an immediate and substantialchange in the current global greenhouse gases emission trend: it must peakand begin to reduce within the next decade. Longer-term targets must be informedby the evolving science, but the IPCC’s 4th Assessment Report indicates that globalemissions must fall by at least half of 1990 levels by 2050. We believe that workingto reduce emissions now is less costly than delaying our efforts. There is nothingto be gained through delay. The deepest reductions should initially be made bydeveloped economies though global emissions reduction will require all nations toplay a part.Emissions reduction at this scale will profoundly affect business, and business is alreadytaking action to drive down greenhouse gas emissions. We are ready to makethose changes and support ambitious political decisions to address the climatechallenge wherever we operate. If policies are well designed and implemented, thebenefits of early action will outweigh the short-term adjustment costs. This earlyaction can only be achieved by setting an ambitious 2020 target.

Summary report The Copenhagen Call 11The Copenhagen Call2. Effective measurement, reporting and verification of emissions.Achieving and tracking greenhouse gas emissions reduction is vital to measuringconvergence towards the objectives of an effective climate treaty. As businesseswe can set an example by contributing to a unified, coherent and reliable measurement,reporting and verification discipline leading to mandatory reporting.Accounting for the emissions we are responsible for will provide the basis for emissionsreduction beyond what may be required by regulation and allow our performanceto be properly judged and rewarded by investors and the public.3. Incentives for a dramatic increase in financing low emissions technologies.To promote effective, efficient, equitable and ambitious action to address climatechange the world will need to mobilize the scale of investment necessary toachieve the emissions reduction required. Properly established, an internationalcarbon market framed around ambitious reduction targets can enable both costeffectiveabatement and create the carbon price stability to drive the deploymentof technologies that will deliver large-scale emissions reductions. The first steps toestablishing a global market will be to enable linkage between national and regionalcarbon markets. An international agreement will help secure investor confidencein the carbon market, and national actions will help generate new financial flowsfor climate investment.The new climate treaty must “push” the development of new technologies throughthe use of public funds to leverage private finance in early stage demonstration anddeployment. This will require policy measures that create clear, predictable, longtermincentives to stimulate private investment and enable the global diffusion ofcapital and technology.4. Deployment of existing low-emissions technologies and the development ofnew ones.The private sector is already the source of over two-thirds of the world’s investmentsin clean technology innovation, and is the most effective source of knowhowand technology dissemination and transfer. Many lowcarbon technologiesalready exist and can significantly reduce global emissions. Significant emissionsreduction can be achieved through energy efficiency, much of it with positive financialreturns. Standards and regulations are the best way to achieve this. A newtreaty must support deployment of lowcarbon solutions by encouraging incentivesfor public and private purchasers to choose the lowest emissions infrastructureand technologies and for investors to account for climate risk in their decisions.Government and business must work together to ensure that all nations haveequitable access to new clean energy technologies and other innovations by, amongothers, working with developing countries to improve the infrastructure requiredfor effective deployment.An effective global climate treaty must provide the means to fund research, developmentand the deployment of new clean energy technologies. Pricing can help

12 The Copenhagen CallSummary reportThe Copenhagen Call“pull” these technologies through the innovation chain, generate revenue and enhancethe flow of investment to developing countries. Governments should strive toend the current perverse subsidies that favour high emissions transport and energyinfrastructure and promote deforestation.A shift to a low-carbon economy, supported by private sector participation and government,has the potential to drive the next generation of technological innovation,address the environmental and economic challenges that climate change presents,and contribute to global development.5. Funds to make communities more resilient and able to adapt to the effects ofclimate change.We recognize that adaptation is as important as mitigation in an effective global climatetreaty. Adaptation planning will require a holistic and long-term planning perspective,which will require different levels of activity at the international, nationaland local levels. Businesses will be responsible for building much of the infrastructureneeded to protect us from climate impacts. An effective global climate treatywill mobilize funding that supports public private partnerships to enhance development,adaptive capacity, climate resilience and management of risk.6. Innovative means to protect forests and balance the carbon cycle.Because a significant proportion of the CO2 reduction required by 2020 comes fromthe sequestration of carbon in forests and agriculture lands, an effective climatetreaty must facilitate such sequestration. If emissions reductions targets are to bemet, there is an immediate need to protect forests and enhance carbon sequestration.The private sector can play an important role in reducing deforestation,particularly in developing countries, through mechanisms structured to valueconservation.We believe these elements should form the core of the international climate changetreaty agreed at Copenhagen. As business leaders we stand ready to innovate andoperate within the framework established through that treaty and national policies.Reducing the emissions that until now have been so linked to our economic growthand betterment will be an enormous, unprecedented global challenge but will alsoprovide significant opportunities for sustainable growth, development and innovation.Acting together, we owe it to future generations to meet this challenge. Nowis the time to create the foundations for long term, low carbon prosperity. We arewilling to work with government to do so.Presented by the Copenhagen Climate Council, informed by discussions with theWorld Business Council on Sustainable Development; 3C; the World EconomicForum´s Climate Change Initiative; the UN Global Compact and The Climate Group,and deliberations among participants at the World Business Summit on ClimateChange, 26 May 2009.

Summary report The Copenhagen Call 13“I ask all of you to support The Copenhagen Call […] Use yourinfluence as business leaders to bring climate change to theattention of policymakers and the public. Instruct your governmentaffairs teams to lobby vigorously and relentlessly for asuccessful outcome in Copenhagen in December. Do it now. […]Mobilize employees, partners, clients and customers to take astand and demand climate action from governments.”His Excellency Ban Ki-moon, Secretary General, United NationsTim Flannery, Chair of the Copenhagen Climate Council, presents the Copenhagen Call to Danish Prime Minister Lars Løkke Rasmussen.© Copenhagen Climate Council / Peter SØrensen.

14 Working group session summariesSummary reportWorking group sessionsummaries:Recommendations topolicymakersThe program of the Summit focused on exploring howbest the global climate treaty can be shaped to encouragebusiness action on climate change. The goal was toput forward recommendations and practical proposalsthat addressed:• Effective policy instruments• Business strategies• Models for public-private partnerships“We are investing into a black box. Itis absolutely necessary that we get along-term framework to operate in;and it absolutely necessary that weget a price on carbon.”Anders Eldrup, President and ChiefExecutive Officer, DONG EnergyKey to reaching this outcome were nine working groupsconvened – under the guidance of skilled facilitators – toshare experiences, debate lessons learned and generatecollaborative solutions under the following themes:• Financing the transition to a low-carbon economy• Carbon markets• Technology push• Technology diffusion and collaboration• Energy efficiency• Forestry and terrestrial carbon• Adapting to climate change through strategic planningand collaboration• Measuring and communicating progress• Value chain

Summary report Working group session summaries 15Financing the transition toa low-carbon economyAddressing the challenge of climate change will require a radicalmobilization of – as yet – untapped sources of funding.A report prepared by the World Economic Forum andNew Energy Finance in January 2009 estimates anaverage annual investment of over US$ 500 billion isrequired from now until 2030 in renewable energyand energy efficiency technologies alone – and this inthe context of the current economic situation, wheredeveloping and developed countries alike are faced withmounting public-sector deficits and a global slowdownin capital flow. Discussions in this working group –chaired by Alan Salzman, Chief Executive Officer ofVantage Point Venture Partners – focused on three questions:1. What drives private sector investment in low-carbonsolutions?2. What are the barriers to private sector investment?3. What policies are needed to scale up investment intothe low-carbon economy?When considering the challenge of how to mobilizethe necessary flows of capital for the transition to alow-carbon economy it is important to acknowledgethe obvious: delivering an adequate and reliable returnon low-carbon investment is an essential driver forinvestors, whether pension funds, venture capitalistsor others along the investment chain. Furthermore it isnecessary to distinguish between the different recipientsof capital (entrepreneurs, established businesses)and the different sources of capital (pension funds,large corporations, venture capitalists, or governments)as each will have different motivations and appetitesfor risk.Catalyzing capital flowWhile the scale of the climate challenge is immense,there are historic examples of game-changing technologiesbreaking through, moving down the cost curve andbecoming commercially viable for mass distribution.Between them, the global policymaking community andthe private capital market players have the money, thepolicy insights, and many of the technologies neededto modify our emissions trajectory. Thus, reorientingfinance to meet the climate challenge is less a problemof capital availability than it is one of capital flow.“Right now, the risk-reward equationisn’t doing the trick. The institutionsaren’t seeing either the nearness ofthe returns based on historical precedents,or they perceive there to be toomuch risk to free the capital flows.”Alan Salzman, Chief Executive Officer,Vantage Point Venture PartnersThree key observations emerged amongst participants:• First, because of the short time-frame suggested byscience, accelerating capital flow is critical – we needto get to scale more quickly than a normal marketevolution would.• Secondly, policy frameworks need to establish bothsticks (standards, regulations, price signals) and carrots(risk rewards).• Finally, the perception that risk associated with investmentin the low-carbon economy is higher thanit actually is must be redressed.Participants recognized that agreement on a long termlow-carbon trajectory would be a critical enabler forincreased low-carbon investment. With long-termmandates in place, policy uncertainty will no longererode the returns and valuation of these investments.However, a regulatory framework needs to be designedthat will provide a solid foundation for investors, withoutpicking individual technology winners. Designingthe regulations to encourage a ‘family’ of low-carbonwinners was proposed as a possible way to shape themarket without distorting it.The discussion on Financing the transition to alow-carbon economy continues under the umbrellaof the Business-Expert Task Force on Low-Carbon Economic Prosperity, facilitated by theWorld Economic Forum´s Climate Change Initiative.To receive more detailed information, please write tocopenhagen@weforum.org.

16 Working group session summariesSummary reportRecommendations to policymakers• Create robust and long-term carbon pricingsignals that provide greater predictability forinvestors when making long-term capital allocationdecisions, such as investments in energyinfrastructure. This could be achieved through avariety of instruments, such as market mechanisms,taxes, emissions or efficiency standards,feed-in tariffs, risk insurance etc., according tonational circumstances. Whilst necessary, however,a carbon price signal will not be sufficienton its own, given the speed of investment changethat is required.• Develop new financial products and strategies toencourage pension funds and retail investors tofinance low-carbon investments. Governmentscould help develop funding schemes such as ‘climatebonds’, low-carbon microfinance, etc.• Promote greater transparency and mandatory carbondisclosure among investors and businesses toensure that investment decisions, whether in lowor high-carbon technologies, are well understood.• Implement measures to increase rewards anddecrease risks to accelerate low-carbon capitalflow and transformation. These could include takinga longer-term policy orientation, the creationof public-private partnerships to invest in newtechnology, government incentives with sunsetclauses to ensure that new entrants into the marketcan compete with incumbents, leveling theplaying field for clean technologies, and educatingand training a strong base of low-carbon investmentspecialists.• ‘Push’ the development of new technologies inthe new climate treaty as well as national policies,through the use of public funds to leverageprivate finance in early stage demonstration anddeployment.

Summary report Working group session summaries 17Carbon marketsInternational and domestic carbon markets should continue to playa central role in climate policy.Although carbon markets have a short history and havefaced a number of well-documented challenges, participantsin this working group agreed that internationaland domestic carbon markets should continue to playa central role in climate policy. The discussions werechaired by Samuel A. DiPiazza, Jr., Chief Executive Officerof PricewaterhouseCoopers International.It was emphasized that existing emissions tradingschemes have led to emissions reductions, changedboardroom behavior and created market infrastructure.The EU Emissions Trading Scheme (EU ETS) resulted inemissions reductions of between 80 and 100 MtCO2ebetween 2005 and 2007 and further reductions in 2008.Furthermore, there are concerns that emissions tradingdoes not provide a sufficient incentive to downstreamtechnology innovation and consumer switching to lowcarbonchoices.“In a very young market, we’velearned a great deal. We’ve learnedthat markets do change behavior, andthey do affect decisions being made.”Samuel A. DiPiazza, Jr., Chief ExecutiveOfficer, PricewaterhouseCoopers InternationalHowever, the uncertainty over the long term future ofthe carbon market and the short term nature of thecurrent budgetary periods means that few companiesoperating both inside and outside Europe have taken aprice of carbon into account when investing in longtermassets such as power plants or steel mills.This working group was developed and organized byThe Climate Group. For more information, please go towww.theclimategroup.org or contact Lauren Bird atlbird@theclimategroup.com.Recommendations to policymakers• Endorse the use of markets and price signals asa tool for reducing emissions. However, carbonmarkets need to be complemented by other policymeasures to drive the deployment of solutions thatrespond less readily to carbon pricing, such as energyefficiency measures, transportation, and thedevelopment of new low-carbon technologies.• Adopt ambitious short, medium, and long-termemissions targets. Scarcity is fundamental to a capand trade program, as it creates a price that willstimulate non-marginal low-carbon investments.Ambitious targets for the short, medium and longtermis critical to ensuring this scarcity.• Employ the most effective means to maintainmarket confidence. The unpredictability of pricefluctuations and periods of extreme price volatilityand market illiquidity is a deterrent to broadermarket participation. Further work is needed toidentify the most effective and least market-distortingway to maintain market confidence untilthe market matures.• Create conditions that will enable a global carbonmarket to evolve over time. A global market is animportant goal; however, it is not necessary to designa global market from the outset. The followingmeasures can support this objective:• harmonization of rules on monitoring reportingand verification (MRV);• consistency between compliance periods; and• harmonization of rules on offset eligibility andthe encouragement of their use in all emissionstrading systems.• Build on the current project-based approach toinvestment in emission reductions. While furtherwork is needed to improve the efficiency ofthe Clean Development Mechanism (CDM) and todevelop mechanisms for rewarding private sectorfinance of projects and programs under new sectoralapproaches, immediate use of common dynamicemissions benchmarks in the CDM can be aneffective first step towards sectoral crediting.

18 Working group session summariesSummary reportTechnology pushFull commercialization of new low-carbon technologies will becrucial to sustained emission reductions.Major transitions in energy infrastructure take time,as evidenced by the move from wood to coal and thenfrom coal to oil. The move towards low-carbon economywill face similar inertia, particularly during periods ofeconomic recession when investment levels fall dramatically.Participants in the working group on Technology push,chaired by BP Group Chief Executive Tony Hayward,agreed that different technologies face different challenges– challenges which may also vary from region toregion. Clearly, no single technology is likely to solve theclimate problem.“Carbon markets are very good atdriving existing technologies intobusiness processes, but not reallygood at all at driving pre-commercialor breakthrough technologies. Carbonmarkets don’t have the time horizonfor that .”Samuel A. DiPiazza, Jr., Chief ExecutiveOfficer, PricewaterhouseCoopers InternationalHowever, there are extensive opportunities in emergingeconomies to meet growing energy demand throughrenewable energy rather than traditional fossil fuels.Small scale energy technology and decentralized ordistributed energy markets also have potential to growlocally.“There’s a lot of technology availabletoday to make a dramatic impact onenergy efficiency and also to begin toprovide a significant quantity of lowcarbonenergy.”Tony Hayward, Group Chief Executive, BPCoal provides a significant share of global power generation.About 30% of units globally have a low (24-26%)thermal efficiency compared to the potential efficiencyof about 45%. This represents a significant opportunityfor cost-effective emissions reductions.Commercializing and deploying low-carbon powergeneration technologies, such as solar power, is provingchallenging. Supporting economic deployment, includingstrengthening of the supply chain (domestically aswell as internationally) and the creation of appropriatefinancial structures and regulatory incentives wouldhelp investors build confidence. For other types of technologies,such as carbon capture and storage (CCS), publicacceptance and support are crucial, as is commercialcollaboration between power generators, pipeline operatorsand oil and gas companies. Major coal-dependentdeveloped countries are more likely to be effectivedrivers to scale up the deployment of CCS and couldbenefit from collaboration and knowledge sharing.In the transport sector, technological improvement inthe production of biofuel and the electrification of personaltransport is critical. Building the infrastructureand the capacity for mass production and deploymentis also vital to the success of new transport technology,especially electric vehicles. However, in the short tomedium-term, improvements in vehicle efficiency andengine technologies provide the biggest opportunity forcarbon reductions.Urban planning and the built environment also presentopportunities for technology to reduce emissions. In theconstruction sector, for example, the lack of regulatoryincentives in a conservative industry limits activemeasures from the private sector to lower its carbonfootprint.This working group was developed and organized byCombat Climate Change. For more information, pleasego to www.combatclimatechange.org or contact JesseFahnestock at jesse.fahnestock@vattenfall.com.

Summary report Working group session summaries 19Recommendations to policymakersContinue to incentivize businesses through markets.Business needs a clear, directional signal that themarket for emissions reductions will continue togrow globally.Transport• Deploy vehicle efficiency standards and incentives,or regulations to reduce vehicles on theroad. This would especially help to promotecarbon reduction.• Promote incentives that encourage behavioralchanges. Improved traffic flow or more fuel-efficientdriving behavior are examples of behavioralchanges that could deliver significant efficiencysavings quickly.• Invest in infrastructure to promote low-carbonvehicles such as electric vehicles over the longerterm.Power generation• Allow countries to incentivize and ‘pull’ technologiesto the market that are appropriate to theirresources and circumstances.• Advance global partnerships that ‘push’ thedevelopment of the underlying, non-applied scientificknowledge. This will help businesses launchcontext-and technology-specific commercial applications.• Promote economies of scale. At the national level,governments need to help businesses achieveeconomies of scale, perhaps through public-privatepartnerships that pool private capital, sharerisk, and offer seed funding.Power sector calls for political leadershipOn Sunday 24 May 2009, Alstom Power, Duke Energy,and Vattenfall hosted a roundtable discussion onthe vision and strategy needed to decarbonize powergeneration. The session was attended by some 20high-level business executives, senior governmentofficials and leading experts. Discussions focused onhow business and governments can work togetherto bring forward the investment and technologydevelopment needed to meet the climate challenge.CEOs at the roundtable expressed concern that evenif current policies are successfully implementedthis will result in just half the emissions reductionsnecessary to reaching the 450ppm target. Thereforea step change is urgently needed in the global policyframework. One of the most important outcomesfrom COP15 should be agreement that emissionswill be priced according to their environmental impact.Key messages from the roundtable include:• Decarbonising power generation is essential tomeeting emissions goals in 2050 and will make alarge contribution in 2030.• Confidence in the direction of travel and the stabilityof the regulatory framework is required tocatalyze the necessary private sector investments.• Long term visibility of the development in thecarbon price is critical. The carbon price must riseto a level consistent with the need to incentiviselong-term investments.• Costs of low-carbon technologies can only bedriven down through research, development anddeployment. Additional measures will be neededto supplement a carbon price and overcome barriersspecific to each technology.• Regulation benefits industry by providing aconsistent approach and level playing field, andis needed to drive investment to ensure the mostcost-effective abatement long-term. Suitable areasfor regulatory intervention include efficiencystandards – both on the demand-side and at thesource of generation; CCS for coal-fired powerplants; smart grid; sectoral approaches, etc.

20 Working group session summariesSummary reportTechnology diffusionand collaborationCollaboration between the private sector, government, and multilateralinstitutions to deploy clean technologies is critical to achievingthe necessary speed and scale.Discussions in this working group focused on the barriersto deployment of clean technologies and howthey may be overcome. Increasing technology diffusionrequires an improvement in the enabling frameworks aswell as capacity building. Indeed, it is common practicefor businesses to adapt technologies to specific marketsand ensure there are capabilities in place to usethe technologies. For example, wind turbines are oftenadapted to make them simpler and easy to operate.Technologies are diverse and sectors have differentneeds. However, participants at the Summit agreed ona common challenge: diverse standards, national codes,laws and practices in different regions, create multiplestrands of compliance needs, and limit the benefits ofeconomies of scale that would foster the rapid diffusionof existing solutions.Technology collaboration is essential to producingthe transformational change required; collaborationinvolves establishing a dialogue between government,sectors and international organizations. The EU is leadingthe climate change transformation, which can helpothers learn from their experiences. Emerging econo-mies are developing low-carbon development strategies,but the diffusion of low-carbon technologies is slowand often met with multiple barriers, such as a lack ofabsorptive capacity and political and economic signalsto encourage widespread deployment.“Don’t discount the ability of developingcountries to innovate.”Steve Lennon, Managing Director,Corporate Services, EskomCollaboration can help overcome some of the barriersto technology diffusion. Opportunities for cooperationexist not only among carbon intensive sectors (e.g. CCSdemonstration) but also within the wider economy.Solution providers such as ICT and biotechnology, forexample, can contribute significantly to emission reductionsby collaborating with other industries.This working group was developed and organized by theWorld Business Council for Sustainable Development.For more information, please go to www.wbcsd.org orcontact Matthew Bateson at bateson@wbcsd.org.Recommendations to policymakersPower generation• Involve the private sector in the development oftechnological needs assessment in developingcountries.• Increase capacity building in developing countries,including education, training, and exchangeof information and best practice, with other developingcountries.• Enhance transparency and involvement of businessstakeholders, NGOs and academic institutions.Industry• Create integrated policies that facilitate collaborationbetween sectors, companies, and NGOs.• Create long-term policy frameworks and incentivesfor the development and use of new technologies.• Streamline and harmonize standards to ensurealignment of national and international best practicesand standards, and create level playing fields.• Provide incentives for early action, includingappropriate accreditation for any early action todeploy alternative technology ahead of schedules,or indeed ahead of legislation.Buildings• Provide integrated policies that will foster systemicand solution approaches, e.g. by promotinglife cycle assessments of building and buildingmaterials to understand energy usage throughoutthe asset life.• Promote use of innovative building materials orimprovements in design through market incentivesand regulations.• Improve building codes and policies directed toretrofitting building stocks.• Improve building information and managementsystems, e.g. intelligent energy metering.

Summary report Working group session summaries 21Energy efficiencyThe current economic downturn presents an opportunity to catalyzeand accelerate energy efficiency efforts, given the immediatecost savings that can be captured.Demographic change is a key factor in tackling emissionsgrowth. Although developing countries typicallyhave lower carbon emissions per capita compared todeveloped countries, their rapidly rising populationsmean that they are expected to represent 8 out of the 9billion global population by 2050. These countries arealso urbanizing quickly, so energy efficient systems(whether in relation to power generation, the built environment,public infrastructure, consumer products, ortransportation) need to be in place to ensure that theincreased population can achieve high living standardswithout compromising efforts to tackle climate change.“We need clear and ambitious targetsto put energy efficiency at the top ofthe agenda.”Markus Reckling, Executive Vice PresidentCorporate Development, Deutsche PostImproving energy efficiency can help deliver a significantproportion of the emissions reduction required – a34% reduction in global carbon emissions by some estimates.Importantly, undertaking measures to improveenergy efficiency can often deliver the most immediateand cost-effective emissions reductions, comparedwith other carbon mitigation efforts. However, they areoften neglected in global negotiations.The current economic downturn presents an opportunityto catalyze and accelerate ongoing energy efficiencyefforts, given the immediate cost savings that can becaptured. The objectives of economic growth, job creation,climate mitigation, and energy efficiency, are wellaligned. While there are technological and financingbarriers to implementing energy efficiency measures,the more difficult challenge is changing behavior at themicro-level.Participants agreed that cities present major emissionreductions opportunities. Their higher density (relativeto rural areas) means that resources and infrastructurecan be shared across a wider population base. For developingcountries, where new cities are being built andare growing apace, opportunities to ensure that energyefficiency is integrated in city planning.At the individual level, simple behavioral changes willhelp reduce energy consumption, but these requireraised awareness and commitment.This working group was developed and organized byCombat Climate Change. For more information, pleasego to www.combatclimatechange.org or contact JesseFahnestock at jesse.fahnestock@vattenfall.comRecommendations to policymakers• Focus political attention on energy efficiencyto get business engaged in reducing emissions,even in the short-term.• At an international level, clear and transparentefficiency standards, and support for thelabeling of the energy efficiency of products,will stimulate behavioral changes in consumersand companies.• At a national level, placing energy efficiency atthe core of federal or state climate change actionplans will help governments and businessapproach the problem together at scale.• Encourage change by engaging with key partners,e.g. city governments, whose policies andpartnerships with the private sector can bemajor levers for improving efficiency economywide.• Accelerate the use of transformative technologiesthat offer immediate efficiency gains (e.g.ICT and biotechnology) to harvest emissionsreductions in the short and medium term.

22 Working group session summariesSummary reportForestry and terrestrialcarbonRobust mechanisms to achieve meaningful reductions in emissionsfrom deforestation and land use must be included in a global climatedeal.Stabilizing CO2 concentrations at 450 ppmv requires areduction in global emissions by 17GT by 2020 from thebusiness-as-usual scenario. A vital contribution to thisreduction could come from the forestry sector and landuse change – up to 50% of total carbon reduction. However,‘Reducing Emissions from Deforestation and forestDegradation’ (REDD) has not been prioritized in previousglobal climate negotiations, or in the Kyoto Protocol.The impacts of deforestation are two-fold: firstly, carbonis transferred from the living components of the planetto the atmosphere, and secondly, this transfer causes adisruption in the role of forests as carbon sinks.“Forestry and a pathway to terrestrialcarbon has to be included in COP15. Itcan’t be optional.”Rob Morrison, Chairman, CLSA Asia-Pacific MarketsCarbon markets can go some way towards providing thenecessary financing, through putting a price on forestcarbon. However, the carbon market will not be the solesolution, so other forms of innovative financing solutionsneed to be considered. Effective monitoring systems alsoneed to be put in place. A global coordination institution(possibly formed from an overlay of existing institutions)could also act as the focus point and lead driver of globalefforts. Active consideration of the welfare of local residentswhose livelihoods depend on forests will help buildsupport at a local level.This working group was developed and organized bythe Copenhagen Climate Council. For more information,please go to www.copenhagenclimatecouncil.com orwrite to us at ccc@copenhagenclimatecouncil.com.The paradigm shift to a focus on tackling climatechange through sustainable management of terrestrialcarbon is reflected in the recently-released draft ofthe post-2012 negotiation text under the UNFCCC. Keyprinciples of effective management include supportingsustainable development in both forest-rich andforest-poor countries, and supporting governments toestablish property rights and preserve human rights ofindigenous people living in affected areas, while recognizingthe importance of investments.There are many actors and players in the landscape ofland use management, including governments, agriculturalsectors, the forestry sector, and local residents.Although REDD has moved to the centre of negotiations,developing countries are still hesitant to form anyagreements. The incentives for developing countriesneed to be credible and reflect a market for ecosystemservices which includes REDD. This is especially importantfor countries that rely on agricultural crops (e.g.palm oil, sugar cane) and timber which contributes todeforestation, through incentivizing sustainable managementof land use. The rise of biofuel as an energysource also contributes to increased production of cropssuch as sugar cane.Recommendations to policymakers• Robust mechanisms to achieve meaningfulreductions in emissions from deforestationand land use must be included in a globalclimate deal. Terrestrial carbon should beincluded as a core dimension to addressingclimate change.• Global leaders need to create a new institutionor strengthen existing institutions tolead and enable coordinated efforts acrosscountries. This would include supportingpublic-private partnerships and financingmechanisms in exchange for environmentalservice.• Transparent and effective Measurement, Reportingand Verification (MRV) is essential forforestry credits and their distribution.

Summary report Working group session summaries 23Adapting to climatechange through strategicplanning and collaborationA political deal will not be possible in Copenhagen if adaptationis not adequately dealt with, including financingmechanisms for adaptation measures, particularlyfor the most vulnerable countries.Adaptation is also an important issue for business.Participants at the Summit emphasized that companieswill not be sustainable if they do not consider the effectthat climate change will have on their long-term investments,assets and value chains. Successful leaders mustbe prepared to manage their businesses under risks anduncertainty; however, the level of uncertainty related toclimate impacts and risks can be significantly reducedthrough a better understanding of climate science andthus make it easier for businesses to plan and adapt.“Adaptation is the elephant in theroom on climate change.”Steve Lennon, Managing Director, CorporateServices, EskomSo far, the negotiations on adaptation have remainedat the political level, in particular on the allocation anddistribution of funds. Participants at the Summit suggestedthat governments should engage with businessto ensure the most effective use of funds for implementationof adaptation measures.Recommendations to policymakers• Engage in research to improve climate modelingand reduce the uncertainty of futureclimate impacts. Sharing of information onlocal climate modeling, led by governmentsand supported by local business knowledge,could help in the planning and development ofadaptation measures.• An effective adaptation funding mechanism isnecessary. It must be flexible, scalable, and applicableat local, regional, and national levels.• Develop or innovate financing mechanismsfor public-private partnerships, e.g. a decentralizedsystems that support smaller financialgroups (similar to microfinance models),which in turn provides funding for adaptationsolutions. The key to successful partnershipswill be to build infrastructure, knowledge anddevelopment capacity to improve the managementof long-term climate impacts.Increasingly, whole sectors and geographies may beexposed to severe climate impacts. For example, the agriculturalsector is facing the possibility that crop yieldscould halve between now and 2020. Participants agreedthat adaptation measures, practices and investmentsneed to be scaled up significantly, and that publicprivatepartnerships may be the most effective vehicle.Existing public-private partnerships need to move frombeing community-based to larger schemes that createeconomies of scale. Effective partnerships in other sectorsmay set a useful example.This working group was developed and organized by theWorld Business Council for Sustainable Development.For more information, please go to www.wbcsd.org orcontact Matthew Bateson at bateson@wbcsd.org.

24 Working group session summariesSummary reportMeasuring andcommunicating progressStandardization in carbon disclosure will help decision-makingamong business, governments, consumers, and investors.The Bali Action Plan call for mitigation activities that canbe measured, reported, and verified (MRV), is mirroredin the private sector’s call for greater clarification andstandardization of rules on climate change disclosure.Corporate reporting and measuring systems are developingrapidly but would benefit significantly from clarificationand standardization so as to improve results forboth providers and users of information. Cities, publicsector, and other organizations, with climate strategiesare adopting similar practices and facing similar challenges.These predominantly voluntary disclosures arewelcome and vital responses by business and others tothe demand for solutions to the threats posed by climatechange.“What gets measured gets managed.Getting the facts right facilitates afocus on the business-critical risksand opportunities related to climatechange. Managers and investors alikeneed better tools for measuring carbonfootprints and to be able to quantifythe outcomes of carbon reductionstrategies.”Lise Kingo, Executive Vice President andChief of Staffs, Novo NordiskThe Greenhouse Gas (GHG) Protocol establishes a firmfoundation for measurement of GHG emissions. However,while the GHG Protocol and other monitoring andPrinciples for a global reportingstandardA uniform and transparent global reportingstandard is required that:• Reduces complexity and provides the claritythat will enable business to integrate climatechange considerations into their strategiesand long-term planning;• Produces disclosures that are consistent,comparable and reliable across sectors andgeographies;• Satisfies the information needs of government,business, investors and consumers;• Creates the common language for reportingthat is necessary for linking and harmonizingschemes; and• Provides the clarity and rigor that is necessaryfor compliance, assurance and enforcementand that is compatible with theimplementation of policies under discussionthrough the UN Framework Convention onClimate Change negotiations.On 25 May 2009, the Climate Disclosure StandardsBoard released a draft Reporting Frameworkfor public consultation that seeks toachieve these objectives.reporting schemes allow various methods to be usedfor boundary setting, emissions measurement, targetsetting and performance tracking, disclosures can varyin quality, quantity and relevance. The resulting lack ofconsistency and comparability is inconsistent with theglobal and shared nature of climate change, prevents theeffective use of information by markets and stakeholdersand discourages disclosure – companies and others areuncertain about what they should report and how anydisclosure will be used.This working group was organized by UN Global Compact.For more information, please go to www.unglobalcompact.orgor contact Lila Karbassi at karbassi@un.orgRecommendation to policymakers• Support a global reporting model whichincludes business, governments, consumers,and investors to help create the frameworkfor MRV and communication. Given the existingdisparate efforts, this may mean that aglobal model would begin as a collection ofregional measurement and reporting models.Any such system would need to ensureconsistency, comparability, and reliability,between sectors and geographies.• Promote long term policy clarity and certainty,which would help with business planningand integration of actions on climate changeinto business strategies and allow effectivelong-term planning.

Summary report Working group session summaries 25Value chainThe networked nature of business operations means that effectiveaction to reduce climate impacts will require working through thedense value chains upon which all companies and consumers rely.There is significant opportunity to accelerate anddeepen action to combat climate change by focusing oncomprehensive approaches to value chains. These buildon existing business models that can enable effectiveaction across national borders, promote innovation, andcapture opportunities for efficiency. Supply chains inmost businesses are currently managed for cost, timeand quality, and exclude parameters such as impacts onclimate, water, and waste. Furthermore, existing policiesthat relate to supply chain management have coveredstandards for labor, factories, and poverty alleviation atsource.“We [...] have a carbon imprint of cirka3 million tons […] out of a total supplychain that we influence of 300 milliontons – nearly a factor of 100 more.And it is very clear to us that we area pivotal part of that supply chain todrive changes far bigger than whatwe can save in our own shop.”Paul Polman, Chief Executive Officer,UnileverThe complex interactions between stakeholders implythat partnerships and cooperation along entire valuechains may be necessary. For example, cellulosic ethanol(a form of biomass composed primarily of inedibleplant fibers such as grass, stalks and straw) has the potentialto provide enough biofuel to replace 25% of roadtransport in the US and EU. However, to capture this opportunitywould require engagement of the entire valuechain, including farming, biomass collection, refineries,and engine design. The lack of support from any onepartner could be enough to ‘block’ progress in this area.value chain approaches and that this will greatly improvethe likelihood of meeting targets set by the agreement.This working group was developed and organized byBusiness for Social Responsibility. For more information,please go to www.bsr.org or contact Aron Cramer atacramer@bsr.org.Participants suggested that gaining visibility for climatechange and greenhouse gas emissions would requireimproved measurement and monitoring, better technology,stronger partnerships with suppliers and customers,and greater understanding of consumer needs.Participants at the Summit recognized that a globalagreement should include measures to incorporateFocus areas for business• Redesign value chain strategies to emphasizea collaborative approach to the development ofnew processes, products, and services.• Support the development of cross-industrymeasurement standards that will cover wholevalue chains, including downstream and endof-life.• Provide more transparency to consumers, andincrease engagement and education with consumersand citizens about steps they can taketo reduce climate impacts of consumption.Recommendations to policymakers• Establish a transparent international standardfor greenhouse gas measurement ofproducts and services across value chains.Any standard needs to be simple, consistent,but unrestrictive, for example setting minimumstandards and common measurementmethods.• Increase the quality and information availableto the public, including providing education toand increasing awareness of consumers, businessesand students.• When considering the adoption of low-carboninnovations, include focus on disseminatingthese technologies along supply chains andconsider the complex interactions betweendifferent stakeholders along each chain.

26 ProgramSummary report

Summary reportProgram 27

28 Outcomes of side eventsSummary reportOutcomes of side eventsAviation executives convened to agree on global sectoral approach for theindustryThe airline industry recognizes the need to reduceits carbon emissions to help fight climate changeand that the best avenue for this is through inclusionunder a global sectoral approach in the nextglobal climate treaty. That was the main messagefrom a side event hosted by SAS in conjunction withthe World Business Summit on Climate Change.Under the leadership of IATA, the industry issueda statement outlining recommended goals for theindustry as well as a policy framework to supportthese goals. The statement was also presented byIATA's Director General and CEO Giovanni Bisignaniin a plenary session during the Summit.The sectoral goals recommended by the industrycall for continued investment in fuel efficiency inthe short to medium term (1.5 percent on averageper year through to 2020), carbon neutral growth in2020 followed by absolute CO2 emissions reductionsin the long-term, resulting in a 50 percent reductionby 2050 compared to 2005 levels. Participants in themeeting highlighted that reaching these targets willrequire a multi-faceted, collaborative approach thatincludes all stakeholders in the industry, includingairlines, manufacturers, airports, air navigationservice providers etc. It will also require governmentinvestment in the modernization of air trafficmanagement and the establishment of the right fiscaland legal frameworks that promote investmentin sustainable alternative jet fuels, as well as allowsfor the use of offsets.Policy recommendations from the aviation industry:• Policy measures must be developed at a global,not national level - and included in the post-Kyotoframework - to avoid competitive distortion fromthe unilateral imposition of targets and measuresand to avert creating a patchwork of conflicting oroverlapping national and regional policies.• Emissions from aviation are best addressedthrough a global sectoral approach. Emissionsfrom aviation should be included in the post-Kyotoframework, accompanied by specific reductiontargets, but aviation should have full and unrestrictedaccess to carbon market instruments tomeet its obligations, on par with other sectors.• The airline industry supports ICAO's leadership inthe negotiating process leading up to COP15.• The new policy framework must reconcile theprinciple of common but differentiated responsibilitieswith the need for equal treatment in airtransport markets. The industry believes thatthese principles are consistent in the context ofinternational aviation and that, with some politicalleadership and innovative solutions, they canbe met.• The most cost-effective economic measures toreduce emissions should be applied. This includesmeasures within the industry but also emissionstrading, carbon funds, offsets or other similarmechanisms.

Summary report Outcomes of side events 29Showcasing the Danish exampleDenmark is one of the most energy efficient nationsin the world. At “The Danish Carbon Case”, aside event held at the Summit, nine top executivesfrom Danish companies explained how they havedeveloped a strong, global positions on this platform.Panelists were Lars Aagaard, from the DanishEnergy Association and the Danish Climate Consortium;Hanne Christensen of Rambøll; CarstenBjerg of Grundfos; Niels B. Christiansen of Danfoss;Anders Eldrup of DONG Energy; Ditlev Engel ofVestas; Lise Kingo of Novo Nordisk; Thomas Nagy ofNovozymes; and Jørgen-Tang Jensen of Velux. Eachpanelist presented their corporate case and offeredtheir view on how a new, global deal on climatechange could further foster the development anddeployment of low-carbon solutions.The main message across all presentations was thata treaty should be ambitious enough to boost thedissemination of readily available technologies suchas wind power, biotechnology, efficiency in industrialprocesses and buildings – but also push thedevelopment of new solutions.To do so, a new treaty must:• Reflect the scientific consensus (the IPCC) and befair;• Establish a clear, long-term framework;• Put a price on emissions;• Be ambitious – also in the short-term (2020);• Encourage partnerships across sectors;• Focus on energy efficiency;• Create funding for technology transfer.And finally, all panelists agreed that the financialcrisis should not halt action. As one panelist put it:“You should never miss a good crisis.”From risk to opportunity: Low-carbon solutions for a sustainable futureIt will take a transformation of the industriallandscape to achieve the deep emissions cutsrequired by 2050. This was the message from a sideevent hosted by Novozymes, Ericsson, and WWFat the World Business Summit on Climate Change.Business leaders at this event argued that whileincremental reductions are obviously important, itis essential to go beyond this to create a new industrialstructure based on low-carbon solutions thatcan have a transformational impact.Key messages to policymakers include:• Increase focus on solution industries, i.e. thoseindustries that offer transformative technologieswhich can have a net positive impact onemissions, such as those offered by the ICT,biotech, smart buildings, and renewable energyindustries.• Encourage reporting to include not only thedirect emissions of companies, but also theircontribution to reductions in other parts of theeconomy, thus allowing the solution industriesto demonstrate the positive impact of theirproducts and services.• Support the use of life cycle approaches thatfoster cradle-to-cradle strategies in businessalong all value chains, and encourage businessto use ecosystem services sustainably.No silver bullet to reducing the climate impact of road transportationAt a working session hosted by Novozymes, carmakers,experts, and technology providers, highlightedthe fact that there is no silver bullet solution to reducingemissions from road transportation, and certainlynot in the short to medium term. Emissionsfrom the transportation sector have risen rapidly inrecent years and this trend stands to continue foryears to come. Participants in the session - includingPeder Holk Nielsen of Novozymes, Tayce Wakefieldof General Motors Europe and Volker Grüntgesof McKinsey & Company - discussed technologyoptions with a view to highlighting the cost effectivenessof each option and the policy frameworksthat support them.The main conclusions were:• There is no silver bullet to reducing emissionsfrom the transportation sector and many technologieswill have to be developed and tested inparallel.• Lead time for full roll out of EVs suggest theneed for solutions that reduce emissions in theshort to medium term. Improved energy efficiencyin conventional vehicles and use of secondgeneration biofuels are low hanging fruitsthat could be harvested in this time frame.• In the long-term, EVs and vehicles that run onhigh blends of next generation bioethanol willplay a central role. Hybrids that combine electricpropulsion powered by renewable sourcesin urban areas with the flexibility and range ofthe combustion engine running on sustainablefuels look particularly promising.

30 List of participantsSummary reportList of participantsHis Excellency Secretary-General Ban Ki-moon, United Nations; Her Majesty the Queen of Denmark; His Royal Highness the Prince Consort ofDenmark; Prime Minister Lars Løkke Rasmussen, Denmark; Connie Hedegaard, Minister of Climate and Energy, Denmark; José Manuel Barroso,President of the European Commission; The Honorable Al Gore, Former Vice President, United States; Yvo De Boer, Executive Secretary, UNFCCC;R.K. Pachauri, Chairman, Intergovernmental Panel on Climate Change; Edwin Aalders, IETA; Helmy Abouleish, Sekem Group; Mario, Abreu, TetraPak; Jonathan Adashek, Masdar; Joseph Adelegan, Global Network for Environment; Cees-Jan Adema, PepsiCo; Stefan Aeschimann, Alpiq Holding;Shai Agassi, Better Place; Philip Aiken, Macquarie Capital Advisers; Richie Ahuja, Environmental Defense Fund; Mehmet Akat, Embassy of the Republicof Turkey; Abdulrahman Al Hadlg, Embassy of Saudi Arabia; Thani Al Zayoudi, Masdar; Nils Smedegaard Andersen, A. P. Møller-Mærsk;Thorsten Ansorg, Noble Carbon Credits; Jun Arima, Ministry of Economy, Japan; Monica Araya, Yale Center for Environmental Law and Policy;Tod Arbogast, Dell; Yilmaz Argüden, Arge Consulting; Peter Armstrong, OneWorld; Adam Aston, Business Week; Ralph Ashton, Terrestrial CarbonGroup; Panagiotis Athanasopoulos, Public Power Corporation; Rosland Audun, Norwegian Pollution Control Authority; Jan Babiak, Ernst and YoungGlobal; Mahesh Babu, IL&FS Eco-Smart; Robert Bailis, Yale University; Gary Baldwin, CITRIS; Matthew Baldwin, European Commission; HowardBamsey, Department of Climate Change, Australia; Shumeet Banerji, Booz & Company; Ron Banks, AlphaQ; Martha Barcena, Embassy of Mexico;Thomas Baruch, CMEA Capital; Matthew Bateson, World Business Council for Sustainable Development; Thomas Becker, Ministry for Climateand Energy, Denmark; Ole Beier Sorensen, ATP; Elizabeth Belenchia, Carroll Properties Corporation; Gunnar Bengtsson, Volvo; Kenneth Bengtsson,ICA; Bogdan Benko, Embassy of the Republic of Slovenia; Kamel Bennaceur, Schlumberger; Drew Bennett, Energy Crossroads; Torkil Bentzen, ClimateConsortium Denmark; Guy Bigwood, MCI; Li Bin, National Development and Reform Commission, People’s Republic of China; Claus Bindslev,Bindslev AS; Jens Birk, Ministry of Foreign Affairs, Denmark; Kristian Birk, Nordic Council of Ministers; Giovanni Bisignani, IATA; Carsten Bjerg,Grundfos; Anders Bjerrum, Ministry of the Environment, Denmark; Thor Bjorgolfsson, Novator; Hanne Inger Bjurstrøm, Ministry of the Environment,Norway; Rasmus Bjørnø, Ministry of Foreign Affairs, Denmark; Cate Blanchett, Sydney Theatre Company; Peter Blom, Triodos Bank; DavidBlood, Generation Investment Management; Philip Bloomer, Oxfam; Markus Blume, Bavarian State Parliament; Sidsel Bogh, Monday Morning;Enrico Bombardieri, MBD Energy Limited; Ettore Bonaldi, Global Wood Service; Deputy Mayor Klaus Bondam, City of Copenhagen; Lars Bonde,TrygVesta; Christine Bosse, TrygVesta; Andrew Brandler, CLP Holdings; Svein Richard Brandtzæg, Hydro; Kim Brangstrup, Nordenergie Renewables;David Bresch, Swiss Re; Samir Brikho, AMEC; Ole Brink-Nielsen, Dansk Shell; Jørg Willy Bronebakk, Royal Norwegian Embassy; Ernst A. Brugger, TheSustainability Forum Zürich; Peter C. Brun, Vestas Wind Systems; Lasse Bruun, Compassion in World Farming; Daniel Bryant, PepsiCo; Michael Buckley,CNBC; Christopher Bunting, International Risk Governance Council; Chris Burgess, Vodafone; Tom Burke, Rio Tinto; Murat Sungur Bursa, ZorluEnergy; Hans Bünting, RWE Innogy ; Lars Bytoft, Danish Society of Engineers (IDA); Morten Bæk-Sørensen, Ministry of Climate and Energy, Denmark;Jakob Askou Bøss, DONG Energy; Jim Cain, Kilpatrick Stockton LLP; James Cameron, Climate Change Capital; Kim Carstensen, WWF International;Arne Cartridge, Yara International; Edgar Chavez, Global Energy News Paper; Zefeng Chen, ZhongDe Waste Technology; Paul Cheng, Ajia Partners;Joseph Chow, State Street Corporation; Viktor Christen, Embassy of Switzerland; Aimee Christensen, Christensen Global Strategies; Hanne Christensen,Rambøll; Michael Starbæk Christensen, Prime Minister’s Office, Denmark; Stig P. Christensen, COWI; Niels B. Christiansen, Danfoss;Ian Christmas, World Steel Association; Rae Kwon Chung, Ministry of Foreign Affairs Trade; Jørgen M. Clausen, Danfoss; Lars Clausen, DONG Energy;Denis Cochet, Alstom Power; Tony Coleman, ArkX Investment Management Limited; Jason Collins, European Australian Business Council; Pat Concessi,Deloitte; Claus Conzelmann, Nestlé; Koen Coppenholle, ArcelorMittal; Laurent Corbier, Areva; Leslie Cordes, United Nations Foundation; RobertCorell, H. John Heinz III Center for Science, Economics and the Environment; Vivienne Cox, BP Alternative Energy International; Aron Cramer,Business for Social Responsibility; Jacqueline Cramer, Minister of Environment, Netherlands; James Croyle, SCS Energy; Lisbet Creutz, Rambøll;Peter Cunningham, Rio Tinto; Joao Pedro da Silveira Carvalho, Embassy of Portugal; Benny Dalgaard Loft, Novozymes; Oluf Damsgaard Henriksen,Coloplast; Bronwyn Darlington, Rise Up; Asger Daugbjerg, Monday Morning; Ole Daugbjerg, Danfoss; Jane Davidson, Welsh Assembly Government;Simon Davies, KPMG; Gerald Davis, Eikosphere Foundation; Tony Davis, Vale; Sean de Cleene, Yara International; Jan Ernst De Groot, KLM - RoyalDutch Airlines; Abraham De Klerk, Sasol Limited; Jomique de Vries, Accenture; Achim Georg Deja, TIMA International; Jos Delbeke, European Commission; Anaïs Delbosc, Caisse des Dépôts; Jan Dell, CH2M HILL; Stefan Denig, Siemens; Graeme Dennis, Clayton Utz; Henry Derwent, IETA;Paul Dickinson, Carbon Disclosure Project; Andy Dickson, Impact International; Samuel A. DiPiazza, Jr., PricewaterhouseCoopers; Michael Dithmer,Ministry of Economic and Business Affairs, Denmark; Kevin Dobby, IATA; Yulia Dobrolyubova, Russian Regional Environmental Centre;Stephan Dolezalek, Vantage Point Venture Partners; Marcos Domakoski, MDD Papeis; Christophe Dossarrps, United Nations Development Programme;Paul Druckman, HRH The Prince of Wales Accounting for Sustainability Project; Pierre Ducret, Caisse des Dépots; Bruce Duguid, The CarbonTrust; Niall Dunne, Saatchi & Saatchi S; Villy Dyhr, DONG Energy; Sarah Eastabrook, Alstom Power; Mohamed El-Ashry, UN Foundation; AndersEldrup, DONG Energy; John Elkington, Volans; Ditlev Engel, Vestas Wind Systems; Charlotte Ersbøll, Novo Nordisk; Per Falholt, Novozymes;Alexandre Fernandes, Brasil Equity Participacoes; Suzana Ferreira, Caixa Geral de Depósitos; Manuel Flam, Ministry for Energy, France; Tim Flannery,Copenhagen Climate Council; Helmut Fluhrer, Meteo System; Stephen Fong, Swire Properties; Mats Forsberg, CityMail; Kjell Forsén, VaisalaOyj; Peter Forstmoser, The Sustainability Forum; Chloe Fox, South Australian Government; Søren E. Frandsen, Aarhus University; Christoph Frei,World Energy Council; Lykke Friis, University of Copenhagen; Ole Frijs-Madsen, Ministry of Foreign Affairs; Jan Frøshaug, Monday Morning; ChengyuFu, China National Offshore Oil Corporation; Luiz Fuchs, Embraer Aviation Europe; Tomoko Fujitsu (Ikeda), E-Square; Hiroshi Fujiwara, InternetResearch Institute; Yoichi Funabashi, Asahi Shimbun; Anita Furu, Prime Minister’s Office, Denmark; Magnus Furugård, GES Investment ServicesInternational; Claude Fussler, United Nations Global Compact; Li Gao, National Development and Reform Commission, People’s Republic of China;Nicky Gavron, Greater London Authority; François Geerolf, EDF; Jeppe Gents, European Commission; Alan Gerrard, Unilever; John Robert Gibson,John Swire & Sons; Ralf Giercke, Stadtwerke Lübeck; Fabiana Hartkon Giraldi, DONG Energy; Sylvie Giscaro, Carbon Disclosure Project; Richard Gledhill,PricewaterhouseCoopers; Yannick Glemarec, United Nations Development Programme; Anthony Gordon, Och-Ziff; Mahesh Babu Govindaswamy,IL&FS Ecosmart; Peter Graf, SAP; Søren Greve, Dansk Shell; Conor Grew, Office of the Honorable Al Gore; James Griffiths, World Business Councilfor Sustainable Development; Dietrich Gross, Jupiter Oxygen Corporation; Wolfgang Leo Große Entrup, Bayer; Lars Grundberg, Embassy of Sweden;Elaine Grunewald, Ericsson; Harry Grynberg, URS/Windesal Team; Volker Grüntges, McKinsey & Company; Anne Guérin-Moëns, Alstom Power; PeterGunning, Russell Investments; Deepanjali Gupta, Indian Youth Climate Network; Yogesh K. Gupta, Embassy of India; Lois Guthrie, Carbon DisclosureProject; Juan Marco Gutierrez Wanless, Grupo Kuo; Tarjei Haaland, Greenpeace; Helena Hagberg, Banco Fonder; Andreas Halberschmidt,DONG Energy Sales; Steen Halbye, Halbye Kaag JWT; H. Harish Hande, SELCO Solar Light; John Hankins, Calgary Economic Development Board;Niels Bergh Hansen, DONG Energy; Stephen Harper, Intel Corporation; Michael Harrison, The Timberland Company; Barrie Harrop, Windesal Limited;Winfried Häser, Deutsche Post DHL; Frederic Hauge, Bellona Foundation; Jennifer Haverkamp, Environmental Defense Fund; Justin Hayward,Cambridge Investment Research; Tony Hayward, BP; Peter Head, Arup; Lars Hende, Maersk Oil; Stephan Herbst, Toyota Motor Europe; Helmut Herdt,Städtische Werke Magdeburg; Niels Hermansen, DNP Denmark; Oliver Herrgesell, RTL Group; Tone Hertzberg, Ministry of the Environment, Denmark;David Hill, Department of Energy and Climate Change, United States; Jeremy Hobbs, Oxfam International; Simone Hochstrasser, Myblueplanet;Robin Hodess, Transparency International; Jan Hoff, Novo Nordisk; Mark Nicholas Hoffman, McKinsey & Company; Peter Holk Nielsen, Novozymes;Wang Hongmei, China Mobile Communications Corporation; Søren Houmøller, 1st Mile; Lyell Howard, BHP Billiton; Steve Howard, TheClimate Group; John Howchin, Norges Bank Investment Management; Gareth Hughes, Beetle Capital Partners; Lars Hummelmose, Ministry of ForeignAffairs, Denmark; Saleem Huq, IIED; Pertti Ikonen, Embassy of Finland; Tony Iles, ATKINS; Helge Israelsen, Post Danmark; Chiaki Ito, FujitsuLimited; Michael Izza, The Institute of Chartered Accountants; Bryan Jacob, The Coca-Cola Company; Aman Jain, AIESEC International; AnnegretheJakobsen, Novozymes; Marcos Jank, Unica Sugar Cane Industry Association; Janos Pasztor, United Nations; Mats Jansson, SAS Group; CássiaSimons Januário, Vestas Wind Systems; Michael Jay, House of Lords; Flemming Jensen, SAS Scandinavian Airlines Danmark; Jan Wammen Jensen,European Commission; Leif Jensen, VKR Holding; Niels Due Jensen, Grundfos; Christoph Jessen, Embassy of Germany; Marcel Jeucken, PGGM Investments;Joe Hayes, Embassy of Ireland; Lars J. Johansen, Monday Morning; Mette Johnsen, Novozymes; Diane Jones, United Nations; Whit Jones,Energy Action Coalition; Karen Jordan, National Grid; Lars Josefsson, Vattenfall; Philippe Joubert, Alstom Power; Chul Ki Ju, Global Compact KoreaNetwork; Helle Juhler-Verdoner, Alstom Power; Erika Jørgensen, World Food Programme; Hans Duus Jørgensen, Dansk Energi; Helle Bank Jørgensen,PricewaterhouseCoopers; Giedre Kaminskaite-Salters, DFID, United Kingdom; Daniel Kammen, University of California, Berkeley; Ari Kaperi, Nordea;Catherine Karagianni, TeliaSonera; Tetsuo Karaki, Fujitsu Limited; Abyd Karmali, Merrill Lynch; Karim Kawar, Kawar Group; Georg Kell, UnitedNations Global Compact; Anne Kelly, Ceres; William Kelly, NetJets Europe; Harriet Kemp, BELRON; Mark Kenber, The Climate Group; Gary Kendall,SustainAbility; Srgjan Kerim, United Nations; Viva Kermani, Centre for Social Markets; Ari Kernerman, Kernerman Publishing; Nadia Khattab, EgyptianNatural Gas Holding Company; Uday Nabha Khemka, SUN Group; Walter B. Kielholz, Swiss Re; Jinseog Kim, LG Electronics; Sir David King,Smith School of Enterprise and the Environment, Oxford University; Henry King, Unilever; Lise Kingo, Novo Nordisk; Andrew Kluth, HalcrowGroup; Alan Knight, Single Plante; Odin Knudsen, J. P. Morgan; Tom Knutzen, Danisco; Caio Koch-Weser, Deutsche Bank Group; Jesper Koefoed,KPMG Denmark; Lisbeth Kohls, ICA; Mitsuru Komiyama, JICPA; Seiichi Kondo, Embassy of Japan; Christian Kornewall, World Business Council forSustainable Development; Idar Kreutzer, Storebrand; Peter K. Kristensen, Dalhoff Larsen & Horneman; Anders Kristoffersen, Novozymes; Ole Krog,Confederation of Danish Industry; Patrick Kron, Alstom; Erwin Kubesch, Embassy of Austria; Alan Yau Tak Kwok, Ove Arup & Partners Hong Kong;Michael Ka-Yue Kwok, Arup International Consultants; Rob Lake, APG Asset Management; Georges Lamazière, Embassy of Brazil; Bjarne Grav-

Summary report List of participants 31en Larsen, ATP; Philippe Lavielle, Danisco Genencor; Tessa Laws, Rosenblatt Solicitors; Andrew John Lawson, MBD Energy Limited; Luigi Lazzareschi,Sofidel SPA; Colin le Duc, Office of the Honorable Al Gore; James P. Leape, WWF International; Mads Lebech, Industriens Realkreditfond; Alison Ledger,Insurance Australia Group; Manfredi Lefebvre-d’Ovidio de Clunieres di Balsorano, Silversea Cruises; Patrice Lefeu, Europe Plus Foundation;Gerd Leipold, Greenpeace International; Kolja Leiser, The Sustainability Forum Zürich; Steve Lennon, Eskom Holdings; Zhengmao Li, China MobileCommunications Corporation; Liyan Li, National Development and Reform Commission, People’s Republic of China; Xiaofu Li, Chinese Embassy;Christina Liaos, UK Trade & Investment; Bo Lidegaard, Prime Minister’s Office, Denmark; Mikael Lilius, Fortum Corporation; Kai Lintunen, FinnishForest Association; Kerstin Lindvall, ICA; Benoit Lioud, Mercuria Energy Trading; Song Lisong, China National Offshore Oil Corporation; Maria Lohman,Awecore; Thierry Lombard, Lombard Odier Darier Hentsch & Cie; Michael Lord Hastings of Scarisbrick, KPMG; James Lovegrove, TechAmericaEurope; Thomas Lovejoy, H. John Heinz III Center for Science, Economics and the Environment; Tony Lovell, Soil Carbon Australia; Youqing Lu, AluminiumCorporation of China (Chinalco); Marianna Lubanski, Innovation Center Denmark, Silicon Valley; Lars Lundberg, Prime Minister’s Office,Denmark; Peter Lundy, Embassy of Canada; Zdenek Lycka, Embasssy of the Czech Republic; Geoff Lye, Oxford University; Jeanette Fangel Løgstrup,Codan Forsikring; Øystein Løseth, Nuon; Joan MacNaughton, Alstom Power; Henrik Overgaard Madsen, Det Norske Veritas; Nick Main, Deloitte;Samer Majali, Royal Jordanian; Håvard Vaggen Malvik, Statkraft; Rawya Mansour, Mansour Manf. & Distr. Group of Companies; Tony Manwaring,Tomorrow’s Company; Ian Marchant, Scottish and Southern Energy; Andrei Marcu, Bennett Jones; Bruce Marshall, Marshall Hydrothermal;Jürg Martin, MSM Group; Clara Martinez Alberola, European Commission; Jan Mattsson, UNOPS; Shaun Mays, Climate Change Capital; TerenceP. McCulley, Embassy of the United States of America; Alan McGill, PricewaterhouseCoopers; Timothy McGraw, Delta Air Lines; Anna McMorrin,Welsh Assembly Government; Carmel McQuaid, Marks and Spencer; Malini Mehra, Centre for Social Markets; Per Meilstrup, Copenhagen ClimateCouncil; Jock Mendoza-Wilson, System Capital Management; Prasad Menon, The Tata Power Company; Andreas Merkl, ClimateWorks Foundation;Frederic Michel, News Corporation; John Miles, Arup; Alan Miller, International Finance Corporation; Mark Mills, Office of the Honorable Al Gore;Sabine Miltner, Deutsche Bank; Sharyn Jane Minahan, Embassy of Australia; Jens Moberg, Better Place Europe; Andrea Mochi Onory di Saluzzo, Embassyof Italy; Arne Mogren, Vattenfall; Sven Mollekleiv, Det Norske Veritas; Michael Molitor, University of New South Wales; Ernest J. Moniz, MIT;Jennifer Morgan, E3G; Yoichi Mori, JICPA; William Morin, Applied Materials, Inc.; Rob Morrison, CLSA Asia-Pacific Markets; Finn Mortensen, ClimateConsortium Denmark; Irene Mortensen, Grundfos; Michelle Moskowitz, University of California, Berkeley; Dolana Msimang, Embassy of South Africa;Thomas Mueller-Kirschbaum, Henkel AG & Co.; Herman Mulder, Eikosphere Foundation; Lettemieke Mulder, Unilever; Egil Myklbust, WorldBusiness Council for Sustainable Development; Bjarke Møller, Monday Morning; Jørgen Møller-Rasmussen, Dalhoff Larsen & Horneman; Lars Mørk,Danske Bank; Peter Mørkeberg Hinsby, Rambøll; Sam Nader, Masdar; Thomas Nagy, Novozymes; Claude Nahon, EDF; Jan-Christoph Napierski, Ministryof Foreign Affairs, Denmark; Jan Narlinge, The Boeing Companyt; Youssef Nassef, UNFCCC; Michael Naylor, Forrester Partners; Paola Nazzaro,Telecom Italia; Gavin Neath, Unilever; Niels Eirik Nertun, SAS Group; Luis Neves, Deutsche Telekom; Casper Nervil, Scandinavian Int. ManagementInstitute; Patric Neumann-Opitz, Fraport; Jeanne Ng, CLP Holdings; Luke Nicholson, More Associates; Kåre Riis Nielsen, Novozymes; PeterHolk Nielsen, Novozymes; Anna Nilsson, Swedbank; Tracy Nilsson, PE International; Ulla Nilsson, Arla Foods; Indra K. Nooyi, PepsiCo; Lasse Nord,Norsk Hydro; Anders Nordeng, Mandag Morgen Norge; Jacqueline Novogratz, Acumen Fund; Christophe Nutall, United Nations Development Programme;Birgit Nørgaard, Grontmij | Carl Bro; Michael Obermayer, Fjord Capital Partners; Joseph Odhiambo, Environment Canada; Sean O’Driscoll,Glen Dimplex Group; Rainer Ohler, Airbus; Hirohito Ohno, Asahi Shimbun; Kerem Okumus, Regional Environmental Center Turkey; Hans Ollongren,SAS Group; Svend Olling, Ministry of Foreign Affairs, Denmark; Henrik Plougmann Olsen, City of Copenhagen; Patrick O’Meara, Business in the Community;Jeremy Oppenheim, McKinsey & Company; Robert Orr, United Nations; Tsuyoshi Otani, Tokyo Electric Power Company; Philippe Paelinck,Alstom; Marcello Palazzi, Progressio Foundation; Joe Paluska, Better Place; Dennis Pamlin, WWF; Michèle Pappalardo, Ministry for Energy, France;Girish Paranjpe, Wipro Technologies; Peter Parry, Bain & Company; Jose Pascowitch, Visão Sustentável; Shilpa Patel, International Finance Corporation;Valerie Patrick, Bayer Corporation; Lindene Patton, Zurich Financial Services; Anders Cajus Pedersen, GSM Association; Claus Stig Pedersen,Novozymes; Knud Pedersen, DONG Energy; Peter David Pedersen, E-Square; Bob Pegler, GCCSI (Global CCS Institute); Lars Pehrson, Merkur CooperativeBank; Nicolai Peitersen, Ethical Economy; Nick Pennell, Booz & Company; Jukka Pertola, Siemens Denmark; Miguel Pestana, Unilever; Neil Petchers,NORESCO; Jukka Pertola, Siemens Denmark; Brian Petersen, Copenhagen Airports; Andrew Pidden, CLSA Singapore; Thomas Pietsch, StädtischeWerke Magdeburg; Lise-Lotte Olsen Pirovano, Danish Embassy Buenos Aires; Eli Pollak, Energy Crossroads; Paul Polman, Unilever; Bea ThangaratnamPonnudurai, Engen Petroleum; Martin Porsgaard, SAS Group; Chris Posma, Focus Communication; Jeroen Posma, Focus Communication; WendyPoulton, Eskom; Matzen Priya, Novo Nordisk; Peder Michael Pruzan-Jørgensen, Business for Social Responsibility; Robert Purves, EnvironmentBusiness Australia; Zhang Qin, National Development and Reform Commission, People’s Republic of China; Bérengère Quincy, Embassy of France;Stephane Racine, Evolution Consortium; Erik Rasmussen, Monday Morning; Frank Rasmussen, DONG Energy; Jørgen Buhl Rasmussen, CarlsbergGroup; Lars Rasmussen, Coloplast; Ernst Rauch, Munich Reinsurance; Lars Rebien Sørensen, Novo Nordisk; Markus Reckling, Deutsche Post; MohamedReda, Allied Soft; Marianne Reedtz Sparrevohn, Vattenfall; Regitze Reeh, Dansk Shell; Philippe Renaudat, Alstom Danmark; Kalle Reponen,Metso Corporation; Stefan Reichenbach, Thomson Reuters; Lynton Richmond, KPMG; John Ridley, Ocean Nourishment Corporation; Jens Riese, McKinsey& Company; Steen Riisgaard, Novozymes; Juergen Ringbeck, Booz & Company; Reto Ringger, SAM Sustainable Asset Management; AllisonRobertshaw, Zennstrom Philanthropies; Nick Robins, HSBC; Patricia Roboostoff-Splinter, Vantage Point Venture Partners; James E. Rogers, DukeEnergy; Lars Rohde, ATP; David Rosenberg, Hycrete; David Rosenheim, JamBase; Audun Rosland, Norwegian Pollution Control Authority; JørgenRosted, FORA; Nick Rowley, Kinesis; Sergey Ryabov, Metinvest; Christian Rynning-Tønnesen, Norske Skog; Hannu Ryöppönen, Novo Nordisk;Masamitsu Sakurai, Keizai Doyukai; Eero Salovaara, Embassy of Finland; Nigel Salter, SalterBaxter Design; Alan Salzman, Vantage Point VenturePartners; Richard Samans, World Economic Forum; Hendro Sangkoyo, School of Democratic Economics; Gabriele Sartori, Thiess; Bruno Sauter, Officefor Economy and Labour, Zurich; Andrea Sburlati, Johnson Controls; Tormod André Schei, Statkraft; Orville Schell, Asia Society; Jan Høst Schmidt,European Commission; Lykke Schmidt, Novo Nordisk; Antje Schwesig-Simac, ICLEI - Local Government for Sustainability; Veit Schwinkendorf, RolandBerger Strategy Consultants; Rudolf Schwob, F. Hoffmann-La Roche; Jeff Seabright, The Coca-Cola Company; Benno Seiler, City of Zürich; MasaoSeki, Sompo Japan Insurance; Assistia Semiawan, PT PLN (Persero); Jan Serup Hylleberg, Danish Wind Industry Association; Alan Shaw, Codexis;Mirza Shawkat Ali, Bangladesh Department of Environment; Wang Shengjie, Chinese Embassy; Lawrence Shi, ZhongDe Waste Technology; ZhengrongShi, Suntech Power; Kunihiko Shimada, Ministry of the Environment, Japan; Jongmin Shin, LG Electronics; Min Chul Shin, Korea Green Foundation;Jean-Pierre Sicard, Caisse des Dépôts; Jacob Simonsen, United Nations Development Programme; Paul Simpson, Carbon Disclosure Project;Hardiv Harris Situmeang, PT PLN (Persero); Johny Sjam, PT Indosat; Viktor Skarshevskyy, Metinvest; Kim Nøhr Skibsted, Grundfos; Henrik Skovby,Dalberg; Thomas Smedsrud, Mandag Morgen Norge; Steffen Smidt, Ministry of Foreign Affairs, Denmark; Arnie Smith, Fluor Corporation; MalgorzataSnarska, Ministry of Environment, Poland; Erik Solheim, Minister of the Environment, Norway; Claus Sonberg, SAS Group; Fridrik Sophusson,Landsvirkjun; Sir Martin Sorrell, WPP; Jorge Soto, Braskem; Brad Sparks, KPMG; Elisabeth Spehar, United Nations; Mikael Stamming, Öresundskomiteen;Zeno Staub, Vontobel Group; H.E. Carsten Staur, Ministry of Foreign Affairs, Denmark; Paul Steele, IATA; Jena-Francois Steels, MercuriaEnergy Trading; Anne Steffensen, Ministry of Foreign Affairs, Denmark; David Stevenson, World Food Programme; Björn Stigson, World BusinessCouncil for Sustainable Development; Peter Stigson, Mälardalen University; Susanne Stormer, Novo Nordisk; John Stowell, Duke Energy; ThomasStreiff, The Sustainability Forum Zürich; Philip Strong, Reflex Marine; Marc D Stuart, EcoSecurities; Roland Stulz, The Sustainability Forum; Carl-Henric Svanberg, Ericsson; Hans Peter Svendler, Realdania; Graeme Sweeney, Shell Group; Preben J. Sørensen, Deloitte; Naoki Tabata, RHJ InternationalJapan; Jørgen Tang-Jensen, VELUX; Faith Taylor, Wyndham Worldwide; Steven Tebbe, NetJets Europe; Carola Teir-Lehtinen, Fortum Corporation;Carin Ten Hage, TNT; Michael Thaler, TLR Energy; Gareth Thomas, BERR/DFID, United Kingdom; Simon Thomas, Trucost; Carsten Krogsgaard Thomsen,DONG Energy; Mikkel Thrane, SAS Group; Sir Crispin Tickell, Oxford University; Sophia Tickell, SustainAbility; Joseph Tomusange, Embassy ofUganda; Jon Townley, Welsh Assembly Government; Libby Townshend, British Embassy; Terry Townshend, Globe International; Moses Tsang, AjiaPartners; Peder Tuborgh, Arla Foods; Chris Tuppen, BT; Michael Ullmer, National Australia Bank Group; Jens Ulltveit-Moe, Umoe; Jukka Uosukainen,Ministry of the Environment, Finland; Zoritsa Urosevic, World Tourism Organisation; Per Valstorp, Novo Nordisk; Marc Van Craen, Embassy of Belgium;Nicky van Dijk, Wolters Kluwer; Ruben Van Doorn, TNT; Sander Van Eijkern, SAM Sustainable Asset Management; Eelco van Heel, RockwoolInternational; Conrad van Oostrom, OVG Real Estate; Niek Van Zutphen, Embassy of the Netherlands; Mary Varkados, Alstom Power; Axel Vassen,Lanxess; Natalie Vaupel, World Food Programme; Douw Vermaak, South African Embassy; Thomas Videbæk, Novozymes; Anuradha Vittachi, One-World UK; Johan Nic Vold, Gassnova; Conrad von Kameke, Monsanto Europe NV; Hugo von Meijenfeldt, Ministry of Housing, Spatial Planning andEnvironment, Netherlands; Fiona Wain, Environment Business Australia; Ché Wall, Lincolne Group; Greg Wall, Generation Investment Management;Tino Wallaart, Ministry of Housing, Spatial Planning and Environment, Netherlands; Alastair Walton, European Australian Business Council;Shancheng Wang, National Development and Reform Commission, People’s Republic of China; Shengrong Wang, China Power International Development;Yanzhong Wang, Guizhou CDM Technical Consultation; Zhongying Wang, National Development and Reform Commission, People’s Republicof China; Dominic Waughray, World Economic Forum; Kristian Wederkinck Olesen, Climate Consortium Denmark; Adam Werbach, Saatchi andSaatchi S; Jorgan Wettbo, United Development Consultants; Bruno Weymuller, TOTAL; Peter Wheen, Ocean Nourishment Corporation; Jack Whelan,Environment Business Australia; Jon Williams, PricewaterhouseCoopers; Nigel Winser, Earthwatch Institute; Timothy Wirth, United Nations Foundation;Tracy Wolstencroft, Goldman Sachs; Mark Woodall, Climate Change Capital; Carol Ann Wu, Hopewell Holdings Limited; Changhua Wu, TheClimate Group; Sir Gordon Wu, Hopewell Holdings; Sonny Wu, GSR Ventures Management; Li Xiaolin, China Power International Development;Hangsheng Xie, Embassy of the People’s Republic of China; Zhenhua Xie, National Development and Reform Commission, People’s Republic ofChina; Yasuyo Yamazaki, Sun-Based Economy Association; Geun-hyeong Yim, Embassy of the Republic of Korea; Peter C. Young, European Institutefor Risk Management; Simon Zadek, AccountAbility; Ueze Elias Zahran, Copagaz; Maurizio Zanini, Ministry of Foreign Affairs, Italy; Herbert-MichaelZapf, International Post Corporation; Michael Zarin, Vestas Wind Systems; Fanyong Zeng, International Engineering Consultation; YingweiZhang, Guizhou Development and Reform Commission; Yue Zhang, Broad Air Conditioning; Zhen Zhang, Chinese Embassy; Xiangyu Zhao,China Youth Climate Action Network; Linda Zhong, ZhongDe Waste Technology; Stephanie Ziersch, South Australian Government; John Zysman,University of California, Berkeley; Morten Holm Østergaard, Prime Minister’s Office, Denmark; Mads Øvlisen, Copenhagen Business School.

32Summary report

Summary report 33CEOS SEEK GLOBAL DEAL TO CURBPOLLUTION. WORLD LEADERS URGEDTO PROVIDE GUIDANCE ON EMISSIONTARGETS AHEAD OF DECEMBER MEET-ING TO REPLACE KYOTO PROTOCOL26 MAY 2009THE WALL STREET JOURNAL EUROPEBAN KI-MOON PROMOTES “CLEANER,GREENER” GLOBAL ECONOMY24 MAY 2009XINHUA NEWS AGENCYEXECUTIVES URGED TO BACK NEWCLIMATE CHANGE TREATY25 MAY 2009THE NEW YORK TIMESACT NOW ON CLIMATE CHANGE, GOREURGES GLOBAL LEADERS24 MAY 2009AGENCE FRANCE PRESSEUN CALLS ON BUSINESS TO CREATE‘GREEN’ ECONOMY25 MAY 2009THE TIMES

34 About the convenerSummary reportWe cannot afford to seeCopenhagen failThe job is not done. Helping COP15 to become successful is – still- the mission of the Copenhagen Climate CouncilThe idea of convening more than 500 corporate leadersat the World Business Summit on Climate Change inCopenhagen, and showcasing powerful support for thepolitical decision makers meeting six months later inthe very same building, was simple and powerful. Fromthe onset, it was one of the main strategic pillars of thesmall group of men and women who decided to form theCopenhagen Climate Council (CCC) in 2007.At the same time, the Summit was a shining example ofthe uniqueness of the CCC: Bringing together stakeholdersacross borders and mindsets, creating collaborationbetween six of the world’s leading climate change/businessinitiatives – and staging an engaging and creativeevent.Now that the Summit is over, the members of the CCCwill spend the next six months making sure that themessage from Copenhagen in May is heard and understoodby those who make the decisions. The job is notdone until an ambitious, new, global treaty is agreed.Insisting that climate change is not only a risk, but alsoan opportunity for society, business, and the planet,the objective is still to support a successful UN ClimateChange Conference (COP15) in Copenhagen in December.When the Council was launched in 2007, Sir RichardBranson, CEO of Virgin and founding member of theCCC, stated with precision that “...we cannot afford tosee Copenhagen fail.” At the Summit, in May two yearslater, his words were echoed by the Danish Minister forClimate and Energy, Connie Hedegaard, when she said:“...the only growth we can afford is green growth.”Working closely with the host of COP15The Summit was convened with the full support of theDanish government, the host of COP15, and the CCC willcontinue to work in close collaboration with the government,assisting Connie Hedegaard and Prime MinisterLars Løkke Rasmussen in the decisive final six monthsleading up to COP15.In this final phase, the CCC will work to further developconcise and concrete recommendations and advise thegovernment on some of the key stumbling blocks in thenegotiations leading up to COP15. Through its membersoutstanding network of high level global leaders inbusiness, science, and policy, the CCC will identify keydecision makers around the world and make sure thatthey are familiar with the the Copenhagen Call and theweight behind it.During the UN Conference in December, the CCC willagain demonstrate its convening power and send a clearsignal to negotiators that business calls for action andpolitical leadership. At present, a COP15 event is beingprepared, based on the outcomes of the Summit in May.Parallel to this, the CCC will issue another five essays inits Thought Leadership Series, with the aim of creatinga new understanding of key issues in the low-carboneconomy. Future topics will be adaptation, carbon sequestration,energy systems in developing countries, andthe role of cities.Reaching outCommunication is a defining characteristic of theCouncil’s work, and in the second half of 2009, the CCCwill reach out to the broader public and future generationswith a new website, a book, and a film. The website– PlanetCall.org – is targeted at students, encouragingthem to support the call for action and to share ideas,insights, and solutions, through web communities andsocial networking sites. The book will support this bypainting a mosaic picture of how the world might lookin the near future if all parties collaborate to solve theclimate problem. Finally, a TV-documentary will takeviewers through the world of climate change, focusingboth on the impact and the solutions.In December, the members of the CCC hope to see agreementon a new and truly historic collaboration between192 governments on solving the planet’s biggest challenge.There is no more important task.As the chairman of the CCC, scientist and author TimFlannery, described in his opening speech at the Summit:“...we are not just contributing to yet another treaty buta treaty that is going to alter the composition of the veryair we breathe. It will, hopefully, by averting dangerousclimate change alter the future experience felt by all lifeon earth.”For more information please visit:www.copenhagenclimatecouncil.com

Summary report About the convener 35”We call on people from all walks of life to join us to secureour common future. Leadership by business, science, and thewider community, must be harnessed to achieve an effectiveglobal treaty in Copenhagen…”The Copenhagen Climate Council Manifesto, November 2007The members of theCopenhagen Climate CouncilFOUNDER: Erik Rasmussen, DenmarkEditor-in-Chief and Chief Executive Officer,Monday MorningCHAIR: Tim Flannery, AustraliaWriter and scientistShai Agassi, Israel, United StatesFounder and Chief Executive Officer, Better PlaceCarsten Bjerg, DenmarkChief Executive Officer, GrundfosDavid Blood, United KingdomSenior Partner, Generation InvestmentManagementSir Richard Branson, United KingdomFounder and Chief Executive Officer, Virgin GroupJames Cameron, United KingdomVice Chairman, Climate Change CapitalSubhash Chandra, IndiaChairman, Zee Entertainment EnterprisesLimitedJørgen Mads Clausen, DenmarkChairman, DanfossSamuel A. DiPiazza, Jr., United StatesChief Executive Officer, PricewaterhouseCoopersInternational LimitedAnders Eldrup, DenmarkChief Executive Officer and President, DONG EnergyDitlev Engel, DenmarkChief Executive Officer, Vestas Wind SystemsDr. Yoichi Funabashi, JapanEditor-in-Chief, The Asahi ShimbunLord Michael Jay, United KingdomGlobe International Advisory Board memberDaniel M. Kammen, United StatesProfessor and Co-Director, Berkeley Institute of theEnvironmentGeorg Kell, United StatesExecutive Director, UN Global CompactUday Khemka, IndiaVice Chairman, SUN GroupSir David King, United KingdomScientist and Director of the Smith School of Enterpriseand the Environment, Oxford UniversityLise Kingo, DenmarkExecutive Vice President and Chief of Staffs,Novo NordiskDr. Thomas Lovejoy, United StatesScientist and President of the H. John Heinz III Centerfor Science, Economics and the EnvironmentDr. James Lovelock, United KingdomScientist, inventor, and authorRob Morrison, AsiaChairman, CLSA Asia-Pacific MarketsRob Purves, AustraliaChair of Environment Business Australia and boardmember WWF InternationalJames E. Rogers, United StatesChairman, President and Chief Executive Officer,Duke EnergyDr. Zhengrong Shi, ChinaChairman and Chief Executive Officer, Suntech PowerBjörn Stigson, SwedenPresident, World Business Council for SustainableDevelopmentWill Swope, United StatesVice President and General Manager of CorporateSustainability, IntelSir Crispin Tickell, United KingdomDirector of the Policy Foresight Programme, James MartinInstitute for Science and Civilization, Oxford UniversityMoses Tsang, Hong KongChairman and Managing Partner, Ajia PartnersJens Ulltveit-Moe, NorwayChief Executive Officer, Umoe GroupLi Xiaolin, ChinaChairwoman and Chief Executive Officer, China PowerInternational Development

Summary report Next steps 37Next stepsTaking the outcomes forwardThe Summit took place at a critical juncture, six months priorto the UN Climate Change Conference (COP15) in Copenhagen.Whilst the results of the meeting – policy recommendationsand practical proposals to forge a way to a green recovery– have been fed into the negotiation process via the host ofCOP15, the Danish Government, the most promising proposalswill be taken forward and further developed at other key meetingson the international calendar.July September NovemberGreenland Ministerial Dialogue onClimate ChangeDate: 30 June – 3 July 2009Location: Ilulissat, GreenlandOrganizers: The Danish Government/ Danish Ministry for Climate andEnergyNordic Climate Solutions - NorthernEurope's meeting-place on energy,transport, and the business of climatechangeDate: 8 – 9 September 2009Location: Copenhagen, DenmarkOrganizers: Monday Morning / NIDABNetorkingIndia Economic SummitDate: 8 – 10 November 2009Location: New Delhi, IndiaOrganizer: World Economic ForumLaunch of the Swedish EU presidencyprogramDate: 1 July 2009Location: Stockholm, SwedenOrganizers: Swedish Government / EUCommissionWorld Economic Forum ”SummerDavos” in Asia: Relaunching GrowthDate: 10 – 12 September 2009Location: Dalian, ChinaOrganizer: World Economic ForumInternational parliamentarian conferenceon climate changeDate: 24 – 25 November 2009Location: Copenhagen, DenmarkOrganizer: GLOBE International35th G8 SummitDate: 08 – 10 July 2009Location: L’Aquila, ItalyOrganizers: Italian Government / G8The 64th session of the UnitedNations General Assembly – Headsof state meeting on climateDate: 22 September 2009Location: New York City, USAOrganizers: United NationsDecemberCOP15Date: 7 – 18 December 2009Location: Copenhagen, DenmarkOrganizers: UNFCCC / DenmarkMeeting of the Major EconomiesForum on Energy and ClimateDate: 9 – 10 July 2009Location: La Maddalena, ItalyOrganizer: U.S. GovernmentGlobal Compact Board MeetingDate: 24 July 2009Location: New York, USAOrganizer: The Global Compact BoardThe 2nd UN Private Sector Forum:Climate ChangeDate: 22 September 2009Location: New York, USAOrganizers: United Nations / BusinessPartnershipsG20 meeting - follow-up on agendaDate: 24 – 25 September 2009Location: Pittsburgh, Pennsylvania,USAOrganizers: US Government / Groupof 20The Copenhagen Business DayDate: 11 December 2009Location: Copenhagen, DenmarkOrganizers: World Business Councilfor Sustainable Development /International Chamber of Commerce /Confederation of Danish Industry2009 Climate Leaders SummitDate: 15 December 2009Location: Copenhagen, DenmarkOrganizers: The Climate Group, UNDO,California, Quebec and NRG4SDOpposite page: Sir Crispin Tickell, Director of the Policy Foresight Programm, James Martin Institute for Science and Civilization, Oxford University; Anders Eldrup, Chief ExecutiveOfficer and President, DONG Energy; Sam DiPiazza, Chief Executive Officer, PricewaterhouseCoopers International; James Rogers, Chairman, President and Chief Executive Officer,Duke Energy; David Blood, Senior Partner, Generation Investment Management. © Copenhagen Climate Council / Peter SØrensen.

The DifferenceBetween aRisk and anOpportunityIs How SoonYou Discover ItAs Scandinavia’s leading independent think tank,Monday Morning enables key decision makers tonavigate and operate in an increasingly fragmentedand complex society. Never has the world faced somany urgent and interconnected challenges.This calls for shared understanding and solutions.Monday Morning identifies the most important eventsand trends and transforms these into strategicknowledge, empowering our clients with a competitiveedge. Navigating under ever changing circumstancesit is not just a matter of what you know, but how soonyou act on it. We call this Leadership Navigation.www.mm.dkFrom Risk to Opportunity

Summary report About PlanetCall 39Ban Ki-Moon calls onyouth to “shame us intoaction”Youth calls on COP15 for action to safeguard our planet.A Copenhagen Climate Council initiative.What is PlanettCall?. PlanetCall is the single best onlineplatform for youth to unite and engage with those passionateabout safeguarding the planet. The website is alsothe best place for youth to go for solutions and to influencethose responsible for the formation of a successfulnew climate treaty in Copenhagen in December.PlanetCall is an initiative of the Copenhagen ClimateCouncil and Monday Morning. It aims to demonstratethat the next generation has ambitions for a cleanerworld and the imagination to help build it. The initiativewas launched at the World Business Summit on ClimateChange by U.N. Secretary-General Ban Ki-moon and DanishMinister for Climate and Energy Connie Hedegaard.“You can say ‘Help us make the futuresafer and more sustainable’ and youcan urge your governments to supporta fair and effective agreement. Remindthem of their moral responsibility. Getinvolved. Get mobilized. Inspire uswith your passion, even shame us intoaction.”His Excellency Ban Ki-Moon, SecretaryGeneral, United Nationsand technologies available. A PlanetCall book is also inthe making, presenting a blueprint for a new sustainablesociety.In order to begin discussions, selected groups of expertsand business people have been invited to give short videotalks on planetcall.org. Videos of R.K. Pachauri, ConnieHedegaard, Tim Flannery, Peter Head, and Shai Agassiwill soon appear on the site, with others to follow.Delivering results. PlanetCall offers the opportunity tosign the PlanetCall Declaration. The Copenhagen ClimateCouncil and Monday Morning will present thesesignatures along with a selection of calls to the DanishGovernment, host of COP15, and to the United Nationsin December 2009. This will stress next generation´sdemands for and willingness to support a new globalclimate change treaty.This project is supported by businesses and foundations,including Realdania, Grontmij | Carl Bro, LEGO, Arup, andthe Danish Association of Engineers (IDA).For more information please visit: www.planetcall.orgThe audience included representatives of youth associations,all members of PlanetCall´s Advisory Board:AIESEC, China Youth Climate Action Network, EnergyAction Coalition, Energy Crossroads, and India YouthClimate Network.An ideal complement to the Summit. The CopenhagenClimate Council and Monday Morning believe thatyouth can help accelerate the movement towards a newindustrial revolution and a low-carbon economy by demonstratingtheir willingness to adopt new solutions andencourage the efforts of business and science.A call to action. PlanetCall.org offers the opportunityto post a call. Calls are proposed solutions, thoughts, orcomments. A call is a declaration that others can buildon. These calls can also be sent to social networking sites.Visitors to PlanetCall.org can explore what the futurecould be if we implemented the most advanced ideasThe PlanetCall Declaration“The future of humankind depends on the actionsof THIS generation. We are (#) youth havingcommitted ourselves to reduce carbon emissionsnow, and we encourage all nations to sign an ambitiousglobal climate treaty at the U.N. ClimateChange Conference (COP15) in Copenhagen inDecember 2009. Only through significant actionthat takes the recommendations of the IntergovernmentalPanel on Climate Change (IPCC) intoaccount can we ensure that OUR future will beprosperous, clean and secure for us, our childrenand our home, the Earth. Act now, sign thePlanet Call statement, forward it to your friends,make your voice heard, and let us together createthe future we desire and require so that we areremembered as the (#) faces of courage, wonder,and hope.”

Légende 3140 SponsorsSummary reportSponsorsMain Sponsor"The World Business Summit represents one of the clearest indications of the changein attitude towards the climate challenge that has been taking place within thebusiness community over the last couple of years. I am convinced that the call fromCopenhagen to take action, will contribute to catalyzing the bold political decisionsthat we need to transform our fossil based societies."Anders Eldrup, President and Chief Executive Officer, DONG EnergyStrategic Partner"Climate Consortium Denmark has participated in the World Business Summit onClimate Change in order to strengthen awareness of Danish competences and solutionsin the cleantech area nationally as well as internationally. For Denmark, as anexporting country, it has been a golden opportunity to show international leadersDanish business competences in the area, of climate and energy and the hope is thatthe summit will create the basis of future investments in Danish climate and energyfriendly technology. Furthermore the World Business Summit sends a clear signal tothe Danish business community that even though we are a small nation we can stillbe a frontrunner within green technology, and lead the way in solving some of theworld’s most pressing challenges."Finn Mortensen, Executive Director, Climate Consortium DenmarkGreening Partner“We're happy to be part of the initiative, bringing the aviation industry together intoa high-profile event like the World Business Summit on Climate Change. We participatedin a process with IATA in order to assemble the airline industry’s constructiverecommendations for policymakers to achieve a sustainable global solution for aviationin time for COP15 in Copenhagen in December. At the Summit, we convened themain players in our industry and demonstrated that we are seriously committed toa sustainable future. It is important to us that the message that the need for a globalframework that encompasses our industry will be heard by decision-makers and bythe public. I am convinced that aviation will continue to play a natural and vital rolein bringing people and markets together – both socially and economically. Aviationhas a crucial importance for continued globalization.”Mats Jansson, Chief Executive Officer, SAS GroupLégende 1Légende 2Summit Partners“The World Business Summit on Climate Change sends a clear signal to governmentthat business would welcome their leadership and stands ready to respond. Governmentsare the only ones who can ensure the legal framework the private sector needsto do what it is able to do best – innovate in a cost-effective way to ensure de-carbonizedpower generation. The Summit provided the unique opportunity for business toformulate and deliver a common message to governments who will make these keydecisions and establish the regulatory framework for the future. Climate change is aglobal problem with no local solutions. Therefore, Alstom Power believes that it is ourcommon responsibility to act today. The Summit – and in particular the developmentof ‘The Copenhagen Call’ – confirmed the genuine desire of business to work togetherto provide the solutions to address this truly global issue. All participants agreed thatwhat is now required is political leadership that will enable business to deliver.”Philippe Joubert, Executive Vice President, Alstom, and President, Alstom Power

Summary report Sponsors 41“Climate change is happening right now and things are only expected to get worsein the future. Luckily, we have the technologies to help counter this threat at ourdisposal already today – and accordingly, we have a responsibility to act. Biotechnologyis one of those technologies that offer a tremendous opportunity to mitigate GHGemissions cost effectively here and now. I hope that our participation in the WorldBusiness Summit on Climate Change helped to get this message across to policymakersgathering at COP15 in December 2009. There is no more time to waste.”Steen Riisgaard, Chief Executive Officer, Novozymes“At Novo Nordisk, we want to demonstrate that the transformation to a carbon-neutraleconomy is not only possible, but offers a promise of economic growth for societyand profitable returns for business. We have demonstrated in practice many examplesof innovations towards carbon-neutral business solutions. And we have conveyed aclear message that government, business and science must work together: Given along-term, stable framework, a clear target and policies and incentives to stimulateinitiatives from business, we as businesses will and can deliver the solutions that willenable us to meet the targets. The Copenhagen Call marks an important milestonefor the two years of work in the Copenhagen Climate Council. What we saw duringthe Summit is that climate is now recognized as a strategic issue. And it may well bea lever to begin to talk sustainability in a broader context in executive teams and onboards. It is important to remember that for many business leaders this is a new agendaand a new reality they have to face. That is what made the Summit unique – that iswhere I think we all felt a sea change happening in that very moment.”Lise Kingo, Executive Vice President and Chief of Staffs, Novo NordiskSummit Sponsors"Gathering leaders from responsible and engaged companies to discuss the climatechallenges was an excellent and necessary initiative. It is the companies which aregoing to bring forward the possible solutions and thus commit ourselves to more sustainableinnovation and production in future. It has been a good opportunity for usbusiness people to be in dialogue with each other and with politicians and organizationsabout visions and actions which are reaching further than COP15 in December. Iam convinced that the event has inspired even more people to participate in the fightagainst climate changes."Carsten Bjerg, Chief Executive Officer, GrundfosMasdar, wholly owned by the Mubadala Development Company (Mubadala), is AbuDhabi’s multi-faceted initiative in the development and commercialization of renewableenergy and sustainable technology. Masdar addresses the entire value chain ofrenewable energy and sustainability through its various business units that includeUtilities and Asset Management, Carbon Management, Property Development, Industriesand Masdar Institute of Science and Technology. It also hosts a global platformfor collaboration for the renewable industry annually in Abu Dhabi under the bannerof the World Future Energy Summit. Masdar is developing a portfolio of solutionsthat includes a range of carbon monetisation and renewable utilities projects both inAbu Dhabi and abroad. In parallel, the company is investing in a number of innovativecleantech companies to further develop and deploy their technologies; it has alsoformed partnerships with several companies, some of which have resulted in jointventures on large scale projects. The biggest project currently underway is MasdarCity, a carbon-neutral, zero-waste cleantech hub fully powered by renewable sourcesof energy. Abu Dhabi is leveraging its substantial resources and experience in globalenergy markets into the technologies of the future. The key objective of Masdar isto assist in the economic diversification of Abu Dhabi; positioning it as a world-classresearch and development hub for new energy technologies and maintaining theEmirate’s position in future energy markets.

42 ProgramSummary report

Summary reportProgram 43AcknowledgementsOur partnersCopenhagen Climate CouncilThe Summit was prepared in collaboration with ourpartners who showed great dedication to our sharedmission. We wish to thank:Combat Climate ChangeArne Mogren, Head of Climate Policy, VattenfallJesse Fahnestock, Climate Policy Advisor, VattenfallThe Climate GroupMark Kenber, Policy DirectorMadeleine Cobb, Knowledge Center ManagerLauren Bird, Senior Press OfficerHolly Lenton, Event and Communications AssistantUN Global CompactLila Karbassi, Office and Financial ManagerMatthias Stausberg, SpokespersonWorld Business Council for Sustainable DevelopmentMatthew Bateson, Managing Director, Energy andClimateAndrea Brown, Energy and ClimateAntonia Gawel, Energy and ClimateMaria Mendiluce, Energy and ClimateWorld Economic Forum’s Climate Change InitiativeDominic Waughray, Senior Director, Head of EnvironmentalInitiativesBrindusa Fidanza, Global Leadership Fellow, EnvironmentalInitiatives; Manager, Global Agenda Council onClimate ChangeBusiness for Social ResponsibilityAron Cramer, Chief Executive OfficerPeder Michael Pruzan-Jørgensen, Managing Director,EuropeRyan Schuchard, Manager, Environmental Researchand InnovationWe would also like to thank Lois Guthrie at the CarbonDisclosure Project, Henry Derwent at IETA, andAbyd Karmali at the Carbon Markets and InvestorsAssociation.The World Business Summit on Climate Change wasconvened by The Copenhagen Climate Council.The Summit was organized by the Council´s Secretariat,based in the Copenhagen office of MondayMorning, founder of the Council and Scandinavia’sleading independent think tank, in close collaborationwith Tim Flannery, Chairman of the Council.The SecretariatErik Rasmussen, Founder, Chief Executive Officer andEditor-in-Chief Monday Morning, er@mm.dkPer Meilstrup, Climate Director, pm@mm.dkNick Rowley, Strategic DirectorLaura Storm, Project Director, lss@mm.dkJohannah Christensen, Project Director, jc@mm.dkScott Willis, Project Director & Editor - Thought LeadershipSeriesJustin Gerdes, Web Editor, jge@mm.dkSarah Pickering, Communications Manager,spi@mm.dkIzabela Butenko-Olesen, Event ManagerChristian Eika Frøkær, Project CoordinatorMorten Hyllegaard, Program ManagerAnne Sofie Bendtson, DesignerAdrien Bory, Project AssistantHanne Lyng Christensen, Team SecretaryCharlotte Trap-Kinberg, Project CoordinatorMeik Wiking, Project ManagerSummit assistantsAnna Holst Jensen, Isabella Frenning, Theis StoltzeKaspersen, Veronica D’SouzaMonday Morning teamLars Jannick Johansen, Director and Chief OperatingOfficerMorten Christensen, Chief Financial OfficerAll images in this report © Copenhagen ClimateCouncil / Peter Sørensen.

Légende 1Légende 2Légende 31Copenhagen Climate Council SecretariatMonday MorningValkendorfsgade 13, P.O. Box 1127DK-1009 Copenhagen KPhone: +45 3393 9323Telefax: +45 3314 1394Mail: ccc@copenhagenclimatecouncil.comwww.copenhagenclimatecouncil.comThis publication has been produced on FSC approved paper by KLS Grafisk Hus A/SThe Copenhagen Climate Council is a global collaboration between international business and science founded by the leading independent thinktank in Scandinavia, Monday Morning. The members of the Copenhagen Climate Council have come together to create global awareness of theimportance of the UN Climate Change Conference, in Copenhagen, in December 2009.The process is supported by the Danish government, host of COP15.Strategic PartnersMain sponsorGreening PartnerSummit PartnersSummit sponsorsMedia PartnersGRAMSTRUP.DK ⁄MANDAG MORGEN