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Business Comes to Copenhagen

12/17/09

The issue of transparency has become the topic du jour among those who are focusing on market-based solutions to climate change. Yesterday, at the Crowne Plaza Hotel, a group of business leaders from China offered a briefing on developing efforts to create a cap-and-trade system in the People’s Republic.  They offered a platform known as the Panda Standards that attempts to offer verifiable, trustworthy benchmarks and requirements for companies that will trade carbon credits.  The event, sponsored by the International Emissions Trading Commission, could easily have been sold as a conservative forum on the power of markets.  The sober intent of the many men and women in suits was contrary to the stereotype of progressive, climate-oriented activities.  Market-based solutions are on the table for almost every major player in the talks, and they represent an important component to making solutions reached in Copenhagen appealing to many groups and effective for all.

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