The document proposes there should be work on the following aspects:
- A credible system of measurement, reporting and verification of emissions, which is vital to measuring progress against the objectives of an effective climate treaty
- Measures to deliver a robust greenhouse gas emissions market in order to provide the most effective, efficient and equitable emission reductions
- Additional policy measures to deliver a step-change in energy efficiency, including the promotion of wide deployment of low-carbon technologies, and also to stimulate new markets for low-carbon goods and services
- A framework for developing countries to accelerate the large-scale deployment of clean technologies through robust funding solutions, leading to the adoption of emission reduction commitments. The Clean Development Mechanism (CDM) must be revised to ensure it facilitates financial support and technology transfer to developing countries on the scale required
- An adaptation strategy and funding mechanism to assist the poorest countries and people who are particularly vulnerable to the effects of climate change
- A mechanism to reduce emissions from deforestation and forest degradation (REDD) in developing countries, which should ensure long-term financial flows
- A comprehensive global approach to emissions from international aviation and shipping
2009 is a critical year in the fight against climate change, since the negotiations in the Copenhagen Conference aim to choose a new framework for climate change that will succeed the Kyoto Protocol. In December 2007, BBVA singed the Bali Communiqué, an initiative linked to Copenhagen, whose aim was to show the willingness of international business leaders to tackle the problem of climate change and work to find solutions within the current binding legal framework of the United Nations. The assumption of these commitments at the highest level shows BBVA’s effort to manage its environmental footprint, as enshrined in the Global Eco-Efficiency Plan 2008-2012). This ambitious plan includes six specific objectives associated with the mitigation of the BBVA Group’s environmental footprint and lines of action divided into six areas. |
