Calling for change

In 2008, we stepped up our advocacy efforts, calling for governments to introduce effective measures to reduce CO2 emissions.

We have the same message for governments everywhere as they prepare for Copenhagen. Firstly, that a stable, long-term regulatory framework, including an international cost of emitting CO2, is urgently needed. Secondly, that different types of energy users will require different policy instruments: emissions trading systems, for example, for power stations or industrial facilities; measures for transportation that encourage greater vehicle efficiency; more efficient modes of transport; and fuels that emit less CO2 on a “well-to-wheel” basis. Thirdly, that renewable power sources like wind and solar need simple, stable and credible targets for their share of electricity supply. Finally, that these changes need to happen fast. They cannot be delayed by the current recession.

CO2 Capture and Storage (CCS) is a critical area where governments need to provide support for demonstration projects. In 2008, we helped build and lead an ad hoc coalition of companies, NGOs and think tanks to encourage the European Union to find an effective way to fund the 10–12 CCS demonstration projects it aims to have in operation by 2015. In December, the EU agreed to grant these projects credits in the EU Emissions Trading Scheme (ETS).

In other policy areas, we are also helping build the coalitions of companies, governments and non-governmental organisations (NGOs) needed to support effective change. For example, we are supporting the efforts of the Global Legislators Organisation (GLOBE) in the run-up to Copenhagen and remain part of the US Climate Action Partnership.

We are also providing input to regulators in California as they develop a Low Carbon Fuel Standard to regulate “well-to-wheel” CO2 emissions from vehicles. In 2008, we collaborated with a number of environmental NGOs and consultancy McKinsey & Company on a global study of different GHG measures to reduce GHG emissions. By showing how many different measures will be needed and the significant costs of many (including CCS), it underlines the need for political commitment and an international policy framework now. The study is being discussed with policy makers in the lead-up to Copenhagen.