Meeting the challenges of climate change 13 October 2009

Copenhagen > Copenhagen only 54 days away > Must agree to an ambitious 2 degree deal > Must demonstrate the right policies to implement a global deal and show leadership on moving to low carbon

The EU’s role > EU is a global leader on climate change > Need to keep EU at the forefront and firmly on the path to a low carbon economy > Leading by example with diplomatic campaign

October Council Last opportunity to agree EU position: > €100 billion annually by 2020 > Global key: 50% emissions, 50% GDP > Participation by all except LDCs > Finance should be adequate, predictable and timely > Effective, fair governance

A low carbon world > Cost of action far less than inaction: climate change presents opportunities > HSBC: revenues in the low carbon sector worth $530 billion, more than global aerospace or defence industry > Low carbon and environmental industry worth £3 trillion a year - and growing

Climate change in the UK > Since 1990, UK economy grown by 48% and emissions fallen by 20% > UK low carbon industry worth £106 billion and employs 880,000 people, and has grown during downturn > The Climate Change Act, which provides a clear signal of a commitment to low carbon transition