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Issues debated ahead of UN COP 15 meeting

18 Nov 2009

The climate change agenda and role of the finance professional was the main focus of discussion at ACCA's roundtable in Brussels on 9 November.

The event, which took place in the lead-up to the UN's December meeting of the COP 15 conference in Copenhagen, provided a current assessment of climate change mitigation practices and greenhouse emissions accounting, as well as an analysis of what needs to be done in order to meet the objectives of the COP 15.

Brendan Murtagh, ACCA president, addressed an audience comprising representatives from the European Commission, European Parliament, green NGOs and other stakeholders involved in the fight against climate change, as well as an impressive line-up of speakers that included Pavel Misiga, DG Environment's head of unit environment and industry, Mairead McGuinness MEP, and Chris Tuppen, BT's chief sustainability officer.

In his speech, Murtagh acknowledged ACCA's pioneering role in sustainability during the past two decades and highlighted carbon accounting as a key focus area for the coming year. Roger Adams, ACCA executive director - policy, further outlined the need for companies to be seen to be 'measuring and reporting things such as physical, regulatory and strategic risks with respect to climate change'.

Chris Tuppen, meanwhile, put forward the case for an international carbon reporting standard. Referring to national standards as 'unhelpful', he explained how an internationally-recognised standard would make it easier for global companies with significant emissions to meet necessary targets.

While the roundtable speakers were doubtful that the COP 15 meeting would bring about a legally binding agreement, they were optimistic about a future political agreement that would pave the way for legally binding targets.

Download ACCA's position paper, The UN Climate Change Conference, 2009 (COP 15)