Many negotiators and large industry groups at the COP15 climate conference in Copenhagen argue that climate action is a question of cost, but the price paid up front is worth the savings later, says the chief executive of a leading business think tank.
The cost often referred to in talks is regarding initial capital expenditures, or capex, but climate change solutions should be compared with operational costs, which would be decreased, and they should also be compared with the collateral of damage avoided cost benefits, Fiona Wain, chief executive officer of Environment Business Australia (EBA), told Reuters.com in an interview.
"If you haven’t got pollution, if you haven’t got waste, if you haven’t got greenhouse gas emissions, that’s a significant lessening of the drain on the public purse in all countries," she said.
EBA formulates policy recommendations on how to have commercial activity without collateral damage to the environment, public health and security.
Wain is hopefull that Cop15 will produce a minimum of 25 percent cuts in carbon dioxide emissions by 2020 and longer term at least 80 percent by 2050.