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Business Leaders Set Sights on Cancun for World Climate Summit

13 September, 2012

The first annual World Climate Summit (WCS) in Cancun will host business leaders such as Richard Branson and Ted Turner and give them a unique opportunity to host discussions during the UN Climate Change Summit. The WCS will be held December 4-5,midway through the UN conference.

According to International Business Times,those in attendance at the WCS will focus on ways to move the world economy to a low carbon economy at a rapid rate. The conference will be attended by over 300 of the world’s largest firms. Organizers of the WCS said that the summit marks the start of a 10 year framework that will bring together business,finance and government leaders with the goal of facilitating the transition to a low carbon economy.

“As world leaders drive towards a global agreement on climate change,investors in the world's capital markets cannot afford to simply sit and wait," said Paul Clements-Hunt,head of the UNEP Finance Initiative.

"Investors and other financial institutions are determined to work with policymakers to catalyse new low carbon markets worth trillions of US dollars,” he continued,“The World Climate Summit will bring finance,business and negotiators together to help make those future low carbon markets a reality."

The WCS selected Cancun as their destination because of the UN conference taking place between November 29th and December 10th. It also helps to further establish Mexico as a leader on climate change,which has been one of the major emphasises of the current Mexican government. PRO Mexico,a Mexican government institution dedicated to strengthening Mexico’s participation in the international economy,is one of the major partners along with the UNEFP. However,the WCS wants to make it clear that business leaders are taking responsibility for the environment as much as governments are.

"Business is not waiting for governments to act," WCS said on its website. "Even without the optimal policy environment,businesses are investing in energy efficiency,in the research,development and the deployment of clean technologies at scale,and are designing innovative financing mechanisms to support investments."

The business leaders are expected to focus on encouraging low carbon businesses and establishing collaborations to support climate change goals. Using existing solutions,like energy efficiency,the leaders hope to establish a platform to make these changes worldwide.

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