Key messages from the Poznan Global Business Bay, delivered at the Ministerial Breakfast on Friday, 12 December 2008 

1. Climate change is a fundamental issue for business. It will have major impacts on business strategies and operations . We therefore have legitimate and strong views on the policy framework needed to address this problem.

2. Business actions are vital for the transition to a low-carbon economy. Our actions are particularly relevant for certain issues:

• Energy efficiency
• Technology
• Deployment of existing technologies.
• Development of needed breakthrough technologies such as CCS.
• Transfer of technologies to developing countries.
• Carbon markets and financial flows.
• New policy mechanisms such as sectoral approaches.

3. Solutions to climate change will require a dedicated public-private partnership to design and implement the policy frameworks and actions that are necessary for success.

However, we have not yet found the appropriate platforms and processes for this interaction. The present intergovernmental negotiations at the COPs are not structured for such a partnership.

4. Climate change must be solved in an integrated manner with other key issues in society such as:

• Economic development to alleviate poverty.
• Energy security and affordable access to energy.
• Job creation.
• Protection of biodiversity.
  Co-benefits with climate change actions are important drivers and these connections have become even clearer as we face a financial and economic crisis.

5. The financial crisis has not changed our view that a new global climate agreement is needed in Copenhagen next year. Instead, the crisis is driving the search for more energy-efficient and low-carbon economies with green jobs being created to deliver this.

6. Government representatives at the Poznan Global Business Day called for more business involvement in the process of defining solutions and policies on climate. We confirm our willingness to work with governments and to bring concrete business proposals needed to tackle the key issues for a new climate agreement.

7. Clarity on the future policy framework will underpin timely and decisive actions by business. Some of the elements business is looking for in a new climate agreement include:

• Long-term predictability for our investments
• Clear medium-term targets.
• Actions by all countries.
• Steps towards a global carbon market with a global price for carbon.
• Technology programs for deployment and development. In particular we need to recognize the long-term nature of technology breakthroughs such as CCS.
• Recognition that actions on climate change can distort competition across country borders.
• Resolution of the role of Sectoral Approaches as a new policy mechanism.
• Protection of Intellectual Property Rights (IPRs), which is vital for innovation and the proper functioning of our international economic system.

8. Well-functioning markets are key for business. But we must recognize that they have their limitations. We need both market mechanisms and good regulation to achieve a low-carbon economy.

9. Business understands that adaptation to climate change will be needed, but we are on a steep learning curve to understand the implications for our operations, strategies and investments.

10. The recent reports from the International Energy Agency (IEA) and other bodies point to worsening trends in greenhouse gas emissions. Business recognizes the urgent need to take action.

There are many areas, such as energy efficiency, that are ready for immediate implementation.

But there is also an urgent need to upgrade Research and Development programs on crucial breakthrough technologies like CCS without which the long-term vision of reducing CO2 emissions by 50 per cent by 2050 cannot be realized.

Business stands ready to work with governments to define a new public-private partnership for action on climate change.