Business Sustainability Conference Introduces
New Climate Economy to Asia
The New Climate Economy, which calls for global action to improve economic growth at the same time as reducing carbon emissions, will be a dominant topic at the first International Conference for Business Sustainability in Kuala Lumpur, Malaysia on 22 & 23 April this year. Consistent with the objectives of the Blue Economy, championed by the Blue Asia Group, one of the conference organisers, the economic imperative recognises that rapid technological innovation and new investment in infrastructure are making it possible today to tackle climate change at the same time as improving economic performance. Read More
Report on the New Climate Economy
The International Conference on Business Sustainability in Kuala Lumpur, Malaysia on 22 and 23 April 2015 will highlight the New Climate Economy and what it means for Asia Pacific. The United Kingdom is one of a number of countries pushing this new approach globally. Likewise the UK’s Climate Change and Energy Network in South East Asia will be supporting the Blue Asia Group’s efforts through this event and in the region.
Here’s an introduction to the New Climate Economy, launched in 2014:
The report finds that there are now major opportunities to achieve strong growth with lower emissions in three key sectors of the global economy – cities, land use and energy. To achieve this growth, governments and businesses need to improve resource efficiency, invest in good-quality infrastructure, and stimulate technological and business innovation.
Cities: Building better connected, more compact cities based on mass public transport can save over US $3 trillion in investment costs over the next 15 years. These measures will improve economic performance and quality of life with lower emissions.
Land use: Restoring just 12% of the world’s degraded lands can feed another 200 million people and raise farmers’ incomes by $40 billion a year – and also cut emissions from deforestation.
Energy: As the price of solar and wind power falls dramatically, over half of new electricity generation over the next 15 years is likely to be from renewable energy, reducing dependence on highly polluting coal.
Resource efficiency: Phasing out the $600 billion currently spent on subsidies for fossil fuels (compared to $100 billion on renewable energy) will help to improve energy efficiency and make funds available for poverty reduction.
Infrastructure investment: New financial instruments can cut capital costs for clean energy by up to 20%.
Innovation: Tripling research and development in low-carbon technologies to at least 0.1% of GDP can drive a new wave of innovation for growth.
The report finds that competitive markets and consistent government policy signals are essential for businesses and investors to create low-carbon jobs and growth. By establishing a strong carbon price and a level playing field through an international climate agreement, governments can unlock new investment and innovation.
“Major companies, smart investors and a new generation of entrepreneurs are already demonstrating how markets can drive low-carbon growth,” said Jeremy Oppenheim, Global Programme Director of the New Climate Economy project. “But inconsistent policy in many countries is now creating uncertainty, hurting investment and job creation. Businesses and investors need clearer market signals.”
Better Growth, Better Climate sets out a detailed 10-point Global Action Plan of practical recommendations that can achieve greater prosperity and a safer climate at the same time. These measures will all lead to net benefits to the economy, even before their climate benefits are considered.
For updates on the KL Conference on Business Sustainability, including the full line-up of speakers and associated events, go to www.sustain-abilitty-showcase.com