Deloitte: Executives must view business through a new lens due to climate change
As Japan prepares to publish its 2020 goals for greenhouse gas emissions, businesses need to be prepared to manage the upside and the downside. How they do this is one of the top of mind issues Deloitte member firm leaders are discussing at the Deloitte Touche Tohmatsu Annual World Meeting, being held in Tokyo this week. As part of its preparation for the meeting, which focuses on client service excellence, 50,000 Deloitte member firm client service representatives from around the world contributed to a web-based discussion on how best to advise clients on top-of-mind businesses issues, including climate change, sustainability, and how companies can effectively manage the implications of the fast-approaching carbon regulation requirements. Momentum for development of North American carbon markets continues to grow, driven in part by the upcoming Conference of the Parties meeting in Copenhagen (COP 15) in December 2009, the commitments and actions of the Obama administration, and by the steady progress of the Western Climate Initiative. According to a recent report by Deloitte United States, Confronting the Carbon Challenge: Business implications of the developing North American carbon markets, a U.S. cap-and-trade system is on the horizon, and is projected to achieve revenues of $80 billion per year as a result.
