Jose Luis Blasco, Head of Sustainability Advisory Services at KPMG in Spain:
Hello, today is the 11th of December. We are at the front door of the Confederation of Industries in Denmark. Today is the Business day; how can business help at the Copenhagen Summit?
We are at Business Day, after Yvo de Boer’s speech. I think that he was very challenging to business. What is your opinion about Yvo’s questions but also the reaction of the business sector?
Eric Israel, Head of Sustainability Advisory Services at KPMG in the U.S.:
Well first of all I think that business is used to challenges so the question that Yvo had for businesses was right on. I think what he was questioning was basically its leadership. The challenge is really that we have to come up with new and inspiring leadership and I think he was also questioning whether the current business model is still the model that will deliver the things, the expectations that would come out of this.
So, you know, you can be very defensive and say that you have done already many good things but the bigger picture is really that a fundamental change in the business models is necessary. And that was his underlying questions.
I am impressed with what business has done so far but it is good enough in order to get us to the carbon reduction emission in 2050 because that is really the measurement of success. There are high expectations on business. Because I think this is something that governments can’t do by themselves, NGOs can’t do it also by themselves. Business is probably in a position in order to make that fundamental change. But at the same time business is also waiting for governments to come up with that climate in order to make the change. I think it is the chicken and the egg because sometimes we are a little risk averse but in this case I think it really pays off if business becomes more brave and more focused on what it can do in order to work with this challenge.
Jose Luis Blasco:
What do you expect from this Business Day?
Eric Israel:
I expect this Business Day that we don’t discuss too much about the science of climate change. It is really about what business can do. I think the focus is clear. It is to come up with the reductions of carbon emissions. I expect business to come up with a fast approach; about what can we do in the short term but also come up with the big ideas that will help us to further reduce carbon emissions for the longer term.
Jose Luis Blasco:
Thank you Eric.