Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Business leaders: Progress in Copenhagen

Business leaders: Progress in Copenhagen but 2020 emission reduction targets will need to increase

The outline of a climate change agreement in Copenhagen should be welcomed for what it has achieved, according to New Zealand business leaders.

The agreement to hold temperature increases to 2 degrees will also require all developed countries, including New Zealand, to further increase their 2020 emissions reduction targets, the Chief Executive of the New Zealand Business Council for Sustainable Development, Peter Neilson.

Mr Neilson, who attended the COP15 Climate Change Conference as a member of the World Business Council for Sustainable Development’s delegation, says the outcome so far is welcome for what has been agreed:

• Developed and developing countries agreeing to a maximum temperature rise of 2 degrees
• $100 billion per year in finance from developed countries to help less developed countries adapt to climate change
• That all countries with commitments will have their emission reduction performance open to scrutiny.

To achieve the 25% to 40% emission reductions needed to hold temperature rises to 2 degrees will require all developed countries, including New Zealand, to increase their emission reduction targets.

“President Obama has been careful to move no further than what the US Senate is likely to support,” Mr Neilson says.

“The aim during 2010 is to make a legally binding agreement. In the US any agreement needs to be ratified by a two thirds majority of the US Senate.

“While there is considerable enthusiasm for action on climate change on the east and west coasts of the US, each state has two votes in the Senate. The Senators from mid west states, which have a dependence on coal, agriculture and traditional smokestack industries, will need to be persuaded their constituents will not be adversely impacted by an agreement on climate change or the introduction of an emissions trading scheme,” Mr Neilson says.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Maritime Union: Calls For New Zealand Shipping To Resolve Supply Chain Crisis

The Maritime Union says there needs to be innovative responses to ongoing shipping congestion. Maritime Union of New Zealand National Secretary Craig Harrison says it is essential that New Zealand develops its own shipping capacity... More>>

Greenpeace: Calls Foul On INEOS Rugby Sponsorship Deal

Greenpeace is calling foul on NZ Rugby’s decision to sign a sponsorship deal with the oil and plastic polluting petrochemical giant INEOS. "In the thick of the climate crisis, it’s gutting to see NZ Rugby sign a sponsorship deal with an oil and gas polluting conglomerate... More>>

Stats NZ: Quarterly Inflation Rising Steadily Across The Board

Higher prices for transport and food have driven up inflation for the all households group in the June 2021 quarter, Stats NZ said today. The ‘all households group’ represents all private New Zealand-resident households... More>>

Real Estate: June Home Transfers Remain High
There were 44,517 home transfers in the June 2021 quarter, the highest June quarter figure since 2016, Stats NZ said today. The number of home transfers was very similar to the March 2021 quarter and was up 18,252 from the June 2020 quarter... More>>

Statistics: Household Saving Falls In The March 2021 Quarter

Saving by New Zealanders in the March 2021 quarter fell to its lowest level in two years after rising sharply in 2020, Stats NZ said today. Increases in household spending outpaced income growth, leading to a decline in household saving from the elevated levels that prevailed throughout 2020... More>>