ABSTRACT
A Europe-led business association, the World Business Council for Sustainable Development (WBCSD), and the global environmental organisation Greenpeace issued a joint statement calling for an 'international framework' to address the issue of climate change. Trade associations opposing emissions limits, such as the Global Climate Coalition, initially employed the argument that climate change mitigation would inflict significant economic damage. The most important point of corporate relevance regarding the economics of climate change is that, however the costs and benefits add up, they will be spread unevenly among different sectors of the economy, and even potentially within sectors. The Intergovernmental Panel on Climate Change (IPCC) reports advances in a wide range of technologies at varying stages of development. The evolving technology and economics of the climate issue form an important backdrop to business engagement with international negotiations. Not surprisingly, sectors with distinct technological and economic challenges have exhibited varying responses.
