Business and political leaders gathering for the World Economic Forum annual meeting in Davos this week must capitalize on the momentum generated in Bali, where agreement was reached that all countries should cut their carbon emissions, said international agency Oxfam today.
Business and political leaders gathering for the World Economic Forum annual meeting in Davos this week must capitalize on the momentum generated in Bali, where agreement was reached that all countries should cut their carbon emissions, said international agency Oxfam today.
“The outcome of the UN climate meeting in Bali was heartening but without a clear range for global
emissions cuts, the deal may fail to keep us from the brink of a 2°C rise, which is dangerous change.
Similarly, the new adaptation fund is welcome but with estimated adaptation costs exceeding $50 billion
annually, rich countries must start putting serious money forward,” said Director of Oxfam Great Britain, Barbara Stocking, who is attending the Forum.
“A concerted push from Davos participants could help to concentrate minds and ensure that warm words
transform into real action, now. The private sector must support a global binding agreement, as well as reduce its own emissions and help to support technology transfer to developing countries.”
Oxfam is concerned that the proposed emissions cuts will not be not enough to keep global warming below
2°C and that plans to increase use of biofuels fail to take into account the potential impact on poor people's livelihoods, food security, biodiversity and land rights.
Stocking: “We are concerned about the potential impact of rising food prices and increased food insecurity
on people in developing countries. The combined effects of erratic weather, increased energy and input
prices, changing consumption patterns in emerging markets like China and India, and a rush for biofuels is pushing food prices up and poor people will suffer most.”
Other issue on the agenda at Davos will include World Trade Organization negotiations, currently at a stalemate. Trade Ministers will meet informally on the sidelines of Davos on Saturday to discuss whether a deal is possible this year.
Stocking: “Poor countries need fairer trade rules. The meeting on Saturday may be able to unlock the
negotiations but the process should be more transparent and inclusive. A deal should not be pushed through
for the sake of it. Rich countries need to change their attitudes and put development at the center of their concerns.”
As the turbulence on financial markets led to increasing speculation of the potential for a global recession,
Stocking said: “We hope that companies do not draw back from meeting their environmental and social
responsibilities in the face of potential market turbulence or slowed growth. Investments in these areas should not be viewed as an optional extra for good times only. They should be seen as an integral part good business practice.”
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| Global warming - Greenhouse effect 
