BANCAJA HABITAT is one of 150 leading global companies to demand a legally binding United Nations framework for tackling climate change.
Bancaja Habitat is among 150 companies to have signed the Bali communiqué. On a global business level, this unprecedented initiative involves major companies from the US, Europe, Australia and China. The initiative, spearheaded by the University of Cambridge alongside the Prince of Wales’ UK and EU Corporate Leaders Groups on Climate Change, has already had a major impact on governments involved in the meetings in Bali to push for solutions on tackling climate change.
The declaration reveals the true weight of scientific evidence and highlights the serious risks that climate change poses on a social, environmental and economic level, urging for an immediate answer to the problem.
This move signals an unprecedented call to action for all those in the global business communities. Leaders from the business world claim that the benefits of firm immediate action in response to climate change outweigh the costs of inaction. Furthermore, those companies involved claim that the shift towards a low-carbon economy will create important business opportunities.
The 150 companies who signed the communiqué agreed on the need to reduce greenhouse-gas emissions and felt it was necessary to reach an ambitious, international and comprehensive agreement led by the United Nations to draw up a legally-binding framework for reducing the emission of greenhouse gases. Only then will companies strive to set about investing in low-carbon technology, leaving them safe in the knowledge that the threat of climate change is firmly in hand. This is a crucial move since there still remains a debate among the international community on whether the most appropriate way of dealing with climate change is will or obligation.
Furthermore, these leading companies maintain that the general objectives and targets set on reducing carbon emissions should be drawn up principally through the application of science. This idea goes against previous theories established by the business world in particular which highlighted competitive spirit and costs as the two indicators in the limit of reducing carbon emissions. Today, business leaders are increasingly aware that the evidence shown by the Intergovernmental Panel for Climate Change (IPCC) calls for a reduction of at least 50% in emissions by the year 2050.
At the recent meeting in Bali, companies urged Heads of State to embrace this opportunity and to agree to a plan consisting in comprehensive negotiations to ensure that a new agreement will come into force in 2012, when the Kyoto Protocol expires.
Further information on the Bali Communiqué and the companies involved can be found at:
