Jose Luis Blasco, Head of Sustainability Advisory Services at KPMG in Spain:
Now, that most of the diplomats from 192 nations have already arrived in Copenhagen, we would presume that the UN’s previous objective to deliver a new climate treaty to replace the Kyoto Protocol, will end in a political agreement – demanding – but not yet legally binding.
Narrator:
During the last weeks, many of the key players involved in the climate negotiations have already communicated clear GHG reduction targets. We should distinguish between the quantified emission reduction commitments made by developed countries from those made by developing countries. The latter are referred to as NAMAs and are voluntary commitments which refer to concrete actions and project activities.
For developing countries, the following NAMA’s have recently been communicated:
Jose Luis Blasco, Head of Sustainability Advisory Services at KPMG in Spain:
President Barack Obama’s decision to attend the end of the conference, not in the middle, was taken as a sign that an agreement was getting closer.
More than any other UN treaty in the past, this Summit will clearly have the largest impact on the private sector.
So for the two weeks we will give you frequent updates on what is happening at this Summit. We will analyze the consequences for the business world and share with you our views.