Copenhagen, 15 December 2009 – BIAC strongly believes it is crucial to reach a balanced and effective agreement at the Copenhagen Climate Change conference that would provide business with an acceptable and predictable framework to stimulate investment and encourage technological development. Recognising the importance of resolute and concerted international action to address climate change, BIAC has contributed the business perspective to OECD analysis, which provides essential analytical input to international climate change discussions.

On Thursday, 17 December, the OECD Secretary General Angel Gurría will deliver the official OECD statement to COP15 delegates, and then lead the OECD Side Event, a high-level panel discussion on cost-effective policies to mitigate and adapt to climate change based on the OECD analysis on the economics of climate change (For more information see: www.oecd.org/env/cc/cop). Discussions at the COP-15 side event will focus on how to scale up and effectively deliver the financing needed to support climate change and how to successfully implement cost-effective policy mixes.

Invited participants include ministers from OECD and non-OECD countries, highlighting the importance of close co-operation between OECD and major emerging economies. One key focus area of the OECD analysis is the importance of building support and setting incentives for global action. BIAC will be represented on the high-level panel by Mr. Russel Mills of Dow Chemicals, an active member of the BIAC Environment Committee. The BIAC Secretariat and numerous BIAC members will also be present in Copenhagen, including at the OECD side-event.

As an international organisation with economic focus, the OECD has played and should continue to play an important role in providing economic analysis of climate change policies underlining the importance of a mix of policy instruments, which is both environmentally efficient and cost-effective. Policy makers from both OECD and non-OECD countries need fact-based information so that they can base their decisions on sound economic analysis.

BIAC encourages policy makers to work towards a successful and balanced agreement that will include action to address climate change by major emitters and foster investment, innovation and open markets so that business can make its contribution most effectively to tackling this major global challenge.