World's largest firms issue last-ditch call for Copenhagen deal

More than 1,000 businesses, including many of the world's largest firms, have today issued a final call for world leaders gathering in Copenhagen to deliver "a strong, legally binding deal" to tackle climate change.

Six of the world's largest green business groups – The Prince of Wales' Corporate Leaders Group, WWF Climate Savers, the US-based Ceres and Bicep groups, the Climate Group, and the Brazilian Business Council for Sustainable Development – have today issued a joint statement insisting the business community supports ambitious action to cut carbon emissions.

"There are rumours floating in and around the Bella Centre that big business would prefer caution and the status quo instead of a treaty that is bold and sets comprehensive reduction targets," the statement reads. "That perception is incorrect. More than 1,000 businesses from all continents, most of them global players, are advocating for a strong, legally binding deal that reduces carbon pollution and accelerates clean energy innovation on a global scale."

It goes on to argue that businesses want a deal that would provide incentives to invest in low-carbon R&D, protect economies from the impacts of climate change, and allow businesses to make long-term investments in clean technologies.

The coalition of groups said that together their members represent more than $11tr (£6.8tr) in market capitalisation, employ more than 20 million people and last year generated at least $2.6tr in revenue.

The statement is backed by businesses from every continent and firms that operate in some of the world's most carbon-intensive industries, as well as many household names, including Barclays, BP, British Airways, General Electric, IBM, News Corporation, Nike, Starbucks, and Virgin, to name but a few.

"One thing is for certain: today, there are many businesses delivering the
real deal," it states. "The companies participating in [these] initiatives... show that taking climate action makes business sense. The question is, if businesses can do it, why can't world leaders?"

Speaking to BusinessGreen.com, Craig Bennett of the Corporate Leaders Group on Climate Change said it was important for progressive businesses to get their message across to world leaders.

"The problem is there is no such thing as a united business community and it does not take a huge number of groups to take a critical position and predict job cuts to scare policiticians," he said. "The threat of job losses is often more scary to politicians than the promise of opportunities, which is why we must work to reassure political leaders of many businesses' support."

He added that despite the apparently slow progress of the talks, there was still a chance a deal could be struck as world leaders begin to play an increasingly prominent role. "The impression I get is that there is still a real sense that a deal can be done," he said. "A lot of it rests on the finance and if some of the industrialised countries put a bit more on the table in the final days, it could secure the deal we want."